SANTA ROSA BEACH, Fla. — Watercrest Senior Living Group and The St. Joe Company have welcomed its first residents to Watercrest Santa Rosa Beach Assisted Living and Memory Care. Located on the Florida Panhandle, the property features 75 assisted living units and 32 memory care units in a 92,000-square-foot building.
FOREST GROVE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Grove and The Gardens, a 92-unit assisted living and memory care community in Forest Grove, approximately 25 miles west of Portland. A family retiring from the industry sold the property to a regional owner-operator for $15.7 million. The community was built in 1996, with memory care added in 2000. The facility is approximately 63,000 square feet and is situated on approximately 2.7 acres of land plus an additional one-acre lot. The buyer plans to remodel …
BLOOMINGTON, Minn. — Lifespace Communities plans to open a healthcare center expansion at Friendship Village of Bloomington later this month. The project adds 16 assisted living apartment homes and five memory care suites to the senior living community, bringing the total communitywide capacity to 42 assisted living apartments and 32 memory care suites. The three-story building is equipped with a secure memory care courtyard. This phase is part of a larger $114.5 million communitywide expansion and redevelopment initiative. The overall project also includes a new independent living building with 93 …
MASSACHUSETTS — Oxford Finance LLC has provided a $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. The proceeds were used for the acquisition of two assisted living/memory care facilities located in Massachusetts totaling 214 units. Further details were not disclosed.
EL PASO, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing communities — SunRidge of Cambria, Cielo Vista and Desert Springs — in El Paso totaling 167 units of assisted living and memory care. The communities were built in 1995, 1998 and 2000 and maintained 89 percent, 87 percent and 90 percent occupancy, respectively, at an early point of the onset of COVID-19. The seller is a debt and equity capital provider looking to divest of a non-core market, while the buyer is a …
HIGH SPRINGS, Fla. — Evans Senior Investments (ESI) has negotiated the sale of Plantation Oaks of High Springs, a 66-unit assisted living and memory care community in High Springs, approximately 20 miles northwest of Gainesville. An independent owner-operator sold the community to a regional owner-operator for $9.2 million, or $139,000 per unit. The buyer secured a loan from the in-place lender on the property. Originally built in 1988 with a 36-unit expansion in 2014, Plantation Oaks of High Springs is licensed for 52 assisted living beds and 20 memory care …
CODY, Wy., and GREAT FALLS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living. The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed. Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the transactions.
KERRVILLE, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Villagio of Kerrville, a 36-unit seniors housing community in Kerrville, approximately 65 miles northwest of San Antonio. The community has maintained occupancy levels more than 90 percent and operational margins around 30 percent over recent historical periods (adjusted for COVID-19). The community is well located near Kerrville’s primary retail corridor and less than three miles from two large hospitals — Peterson Regional Medical Center and the Kerrville State Hospital. Local senior demographics are projected to grow significantly …
TUCSON, Ariz. — Marcus & Millichap has arranged the sale of Carlton Village Senior Care Community, an 80-bed assisted living community in Northwest Tucson. The community was built in 2018. The price of $5.6 million equates to $70,000 per bed. Alex Snyder and Hamid Panahi, seniors housing investment specialists in Marcus & Millichap’s Tucson office, represented the seller, a seniors housing developer. The buyer was a Tucson-based owner-operator. The community combines the scale of a large assisted living operation with the communal setting of high-acuity care homes, creating a quasi-campus …
PORT RICHEY, ZEPHYRHILLS AND CASSELBERRY, FLA. — Colliers International has negotiated the $13.7 million sale of a three-property assisted living facility portfolio in Port Richey, Zephyrhills and Casselberry. Florida Seniors Properties Inc. sold the portfolio, which was 66 percent occupied at the time of sale. The prices were not disclosed. Best Care Senior Living LLC acquired The Cottages in Port Richey, which is located about 37 miles northwest of downtown Tampa. A joint venture between 201 Sunset Drive LLC and 6701 Dairy Road LLC acquired Westbrook Manor in Zephyrhills and …
