Wednesday, November 27, 2024
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Assisted Living

AcquisitionsAssisted LivingIllinoisNews

Blueprint Brokers Sale of 136-Unit Community in Joliet, Illinois

by Jeff Shaw

JOLIET, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 136-unit assisted living and memory care community in the Chicago suburb of Joliet. The two-building campus features dedicated assisted living and memory care buildings that were built in 1999 and 2007, respectively. The seller made approximately $1.3 million of capital expenditure investments since 2016. The buyer was a local owner-operator. The seller and price were not disclosed. Giancarlo Riso, Lauren Nagle, Brooks Blackmon and Amy Sitzman led the Blueprint team.

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AcquisitionsAssisted LivingNewsTexas

LifeCare Properties Sells 112-Unit Blake at New Braunfels in Texas to Inspired Healthcare Capital

by Jeff Shaw

NEW BRAUNFELS, Texas ­— LifeCare Properties (LCP) has sold The Blake at New Braunfels to Inspired Healthcare Capital for an undisclosed price.  The Blake at New Braunfels is a 112-unit assisted living and memory care community in New Braunfels, northeast of San Antonio in the heart of Texas Hill Country. Built in 2021, the Class A property features 71 assisted living units and 41 memory care units. Blake Management Group will continue to operate the property under the new ownership. Cody Tremper and his team at Berkadia Seniors Housing & …

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AcquisitionsAssisted LivingMichiganNews

JLL Negotiates Sale of Two-Property Portfolio in Metro Detroit

by Jeff Shaw

TROY and ROCHESTER HILLS, Mich. — JLL has arranged the sale of Anthology of Troy and Anthology of Rochester Hills, two seniors housing communities totaling 184 units in the Detroit metro area. A partnership between MedCore and American House acquired the assets for an undisclosed price. American House will operate both communities.  The now-renamed American House Somerset and American House Hampton Village are two-story assisted living and memory care communities with 93 and 91 units, respectively. They were completed in 2017 and 2018, respectively.  Jay Wagner, Rick Swartz and Jim …

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AcquisitionsAssisted LivingNewsPennsylvania

Blueprint Negotiates Sale of 114-Unit Community Near Philadelphia

by Jeff Shaw

PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 114-unit assisted living and memory care community in the suburbs of Philadelphia. Ownership acquired the 1988-built community in 2018 with a plan to execute an investment and repositioning strategy. Ownership subsequently invested significant capital to renovate and modernize the community. However, a subsequent influx of new competitive supply caused a persistent drag on occupancy and rate growth, according to Blueprint. The challenges were then exacerbated by the pandemic and its lasting inflationary impact on operating expenses. The …

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AcquisitionsAssisted LivingMinnesotaNews

SLIB Negotiates Sale of 20-Unit Diamond Willow Assisted Living in Alexandria, Minnesota

by Jeff Shaw

ALEXANDRIA, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Diamond Willow Assisted Living & Memory Care, a 20-unit community in Alexandria, approximately 130 miles northwest of Minneapolis. Built in 2006, the 15,483-square-foot community sits on nearly three acres of land. A private equity firm divesting of a geographic outlier sold the asset to a nonprofit looking to expand in Minnesota. The price was not disclosed. Jason Punzel, Vince Viverito, Brad Goodsell and Jake Anderson led the transaction for SLIB.

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AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentMemory CareOperationsVideosWebinars

Webinar: Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment

by Sarah Daniels

The June 27 webinar “Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment” covered the difficulties and opportunities in seniors housing, including the impact of rising interest rates, the rise of regional operators and best practices for meeting regulatory requirements. The panel of industry experts also shared insights on managing troubled assets and adapting to post-pandemic challenges in the healthcare real estate industry. Despite concerns about affordability and rising insurance costs, there were signs of growth and opportunity in the sector. Speakers emphasized the …

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Assisted LivingDevelopmentNewsNorth Carolina

Waltonwood Senior Living Plans 95-Unit Community in Raleigh, North Carolina

by Jeff Shaw

RALEIGH, N.C. — Waltonwood Senior Living has released plans for Waltonwood Lead Mine, an assisted living and memory care community set to open in Raleigh in fall 2025.  The community will feature 95 units, including 65 for assisted living and 30 for memory care. The site is near Crabtree Valley Mall and the North Hills area, which Waltonwood selected to provide convenient access to local amenities and services. Partners on the project include Cline Design Architects, Lighthouse Engineering, Hauser Creech Structural Engineers, Singh Development and Choate Construction.

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AcquisitionsAssisted LivingNewsTexas

Berkadia Brokers Sale of 112-Unit The Blake at New Braunfels in Texas

by Jeff Shaw

NEW BRAUNFELS, Texas — Berkadia has arranged the sale of The Blake at New Braunfels, a resort-style, 112-unit assisted living and memory care community in New Braunfels, a suburb of San Antonio.  Berkadia Seniors Housing & Healthcare, led by Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties.  Scottsdale, Arizona-based Inspired Healthcare Capital was the buyer. The price was not disclosed. The Blake at New Braunfels is a new vintage, Class A community …

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AcquisitionsAssisted LivingNewsPennsylvania

Prestige Group Brokers Sale of 220-Bed Former High School in Milton, Pennsylvania

by Jeff Shaw

MILTON, Penn. — The Prestige Group Realty Advisors has brokered the sale of Rockwell Center, a 220-bed assisted living community in Milton, a small borough in Central Pennsylvania. In the early 1980s, a local real estate entrepreneur born and raised in Milton purchased a former Milton high school and repositioned the property into a 220-bed assisted living facility. The building, being a former high school, was equipped with an auditorium with ample seating and a full stage. For over 40 years the facility was run by the founder and then …

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AcquisitionsAssisted LivingNewsVirginia

Berkadia Negotiates Sale of 77-Unit Community in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Berkadia has arranged the sale of a 77-unit assisted living and memory care community in Richmond. The seller was a publicly traded REIT. A private equity group acquired the property for an undisclosed price and has installed Commonwealth Senior Living as the operator. The new owner plans to implement a renovation plan, scheduled for completion in the first quarter of 2025. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.

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