GRESHAM, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Gresham, an eastern suburb of Portland. This undisclosed property features a total of 135 units. The community was built in 1988 and expanded in 1998. The facility is approximately 103,090 square feet and is situated on approximately 4.1 acres of land. The seller is a Portland based owner-operator divesting of its only senior living community. The buyer is a regional owner-operator seeking to grow its Pacific Northwest portfolio. The …
Assisted Living
OKLAHOMA CITY — HarborChase has completed HarborChase of South Oklahoma City, a luxury seniors housing community. The property offers assisted living and memory care services, as well as respite stays. A grand opening will be held at the property on Thursday, March 12, led by Willie Ferguson, the community’s executive director.
WEATHERFORD, Texas — Civitas Senior Living and PremCap Senior Living have opened West Fork at Weatherford, located west of the Dallas-Fort Worth Metroplex. The 75,800-square-foot community offers 70 assisted living apartments and 19 memory care suites. The community is located near Weatherford’s historic downtown and directly adjacent to Medical City Weatherford.
GREELEY, Colo. — Live Oak Bank has provided an $8.1 million loan for Greeley Village, a 71-unit assisted living and memory care community in Greeley, approximately 50 miles north of Denver. The borrower is KSL Seniors, a developer/owner with communities in Colorado, Utah, Idaho and Oregon. The 51,000-square-foot community opened during in fourth-quarter 2019. Cadence Senior Living operates the property. The three- to five-year, floating-rate loan refinanced a construction line of credit, providing a bridge-to-permanent financing solution. It also allowed the borrower to recapture a line of credit capacity to …
FERN PARK, Fla. — Maitland-Based Strive Senior Living has opened its first community, Strive at Fern Park, approximately eight miles north of downtown Orlando. The property features 79 assisted living and 46 memory care units. Strive Senior Living is managing the community in partnership with KR Management, a Clearwater-based operator. The Agency for Health Care Administration approved the license, effective Feb. 14 and the first residents moved in Feb. 19.
HUNTINGTON, N.Y. — Sunrise Senior Living has completed construction of Sunrise of Huntington, located in the Suffolk County town of Huntington on Long Island. The community can accommodate up to 108 residents and offers assisted living and memory care services. “According to a recent independent study, the population of seniors over 85 years old, in Suffolk County specifically, has increased by 56 percent over the past 13 years,” says Jenifer Salamino, senior vice president of operations for Sunrise Senior Living. Sunrise held a ribbon-cutting ceremony on Wednesday, Feb. 19, for …
MILWAUKEE — Senior Living Investment Brokerage (SLIB) has arranged the sale of St. Clare Terrace, a 59-unit assisted living community in Milwaukee. The community was built in 1964 and operates under the Residential Care Apartment Complex (RCAC) designation. The 67,000-square-foot property sits on 2.4 acres, and was 64 percent occupied at the time of sale. St. Clare was placed into receivership when the previous nonprofit owner-operator was unable to service outstanding bonds. Shortly after the building was placed in receivership, an experienced operator was hired to manage the community until …
MACEDONIA, Ohio — CBRE has arranged a refinancing for American House Macedonia, a 100-unit assisted living and memory care community in Macedonia, approximately midway between Cleveland and Akron. The borrower is a joint venture between Harrison Street and REDICO, which have partnered on over 25 seniors housing communities together. The operator, American House Senior Living Communities, is an affiliate of REDICO. Originally built in 2015, the community consists of 70 assisted living units and 30 memory care units. It is situated on a four-acre site less than a mile west …
PORTLAND, Ore. — Norris & Stevens has brokered the sale of Laurelhurst House, a 38-unit assisted living community in Portland. LHH Property acquired the 22,612-square-foot property from Laurelhurst House LLC for $4.6 million. The property was 100 percent occupied. The seller was the original developer, which built the three-story community in 2000. Todd VanDomelen and David Chatfield of Norris & Stevens represented the seller in the transaction.
BOUNTIFUL, Utah — CareTrust REIT Inc. (NASDAQ:CTRE) has acquired Barton Creek Senior Living, a 62-unit assisted living facility located on the campus of Lake View Hospital in Bountiful, a suburb of Salt Lake City. The acquisition price of the off-market transaction was not disclosed. The Barton Creek facility has been added to CareTrust’s existing master lease with seniors housing operator Bayshire LLC. For the seller, the nonprofit South Davis Community Hospital Campus, the sale was part of a strategic decision to focus on its adjacent higher-acuity operations. The property will …