COLUMBIA and MYRTLE BEACH, S.C. — Berkadia has arranged the sale of two assisted living and memory care communities in South Carolina. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano, and Ross Sanders, closed the 156-unit transaction on behalf of a publicly traded REIT. The properties, located in the Columbia and Myrtle Beach MSAs, were purchased by a regional owner-operator. The price was not disclosed.
ALABAMA — Helios has structured the sale and acquisition financing of an assisted living and memory care community in Alabama. A Mississippi-based regional owner-operator, Veritas InCare, sold the asset to a local owner-operator. The price and other details were not disclosed. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to use its existing lending relationships to fund the purchase. Helios stepped in to assist the buyer and structured a financing package with a regional lender that recapitalized the buyer’s existing community …
MERIDIAN, Idaho — Senior Living Investment Brokerage (SLIB) has arranged the sale of Copper Springs Senior Living, an assisted living and memory care community in Meridian, just west of Boise. The community consists of 95 units and 105 beds was built in 1969 with remodeling done in 2013. The property totals 49,664 square feet on approximately five acres of land. The seller is a REIT divesting to exit operations in the state of Idaho. The buyer is an Idaho-based owner-operator expanding their footprint in the state. The price was not …
GREENVILLE, S.C. — Kauhale Health has acquired The Parker, an assisted living and memory care community in Greenville. The Parker will be rebranded as Kauhale Pettigru. Situated in Pettigru Historic District one mile from downtown Greenville and Greenville Zoo, the 66,765-square foot property sits on 3.5 acres. The property was constructed in 2001 and was renovated over the last 36 months, including both common areas and more than one third of the units. The community offers 75 assisted living and 17 memory care private suites, all of which are private-pay units. …
OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 52-unit assisted living and memory care community in Oklahoma City. The sale was part of a larger portfolio of more than a dozen geographically disparate, older-vintage communities that Blueprint is brokering for a national developer and investor. Opened in 2000, the was 99 percent occupied but “stood to benefit from a refresh to sustain and further drive operating performance,” according to Blueprint. A regional owner-operator acquired the asset for an undisclosed price. Giancarlo Riso, Amy Sitzman …
BOISE, Idaho — Lument has provided a $9 million bridge loan to finance three The Cottages-branded communities in metro Boise: Alpine Meadows, The Cottages of Boise, and The Cottages of Lochsa Falls. Lument will carry the loan directly on its balance sheet. Rob McAdams, a director based in Denver, led the transaction for Lument. The transaction is structured as a single loan secured by the three assets and includes financing the acquisition of Alpine Meadows, a 34-bed assisted living facility in Meridian, and refinancing existing debt of the Boise and …
MERCER ISLAND, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 50-unit assisted living and memory care community in Mercer Island, located in Lake Washington just east of Seattle. The property was built in 1990. Its name was not disclosed. The seller was a private real estate fund. The buyer is a Northwest-based owner-operator looking to expand its portfolio in Washington. The new owner plans to remodel the community Jason Punzel and Daniel Geraghty handled the transaction for SLIB.
TENNESSEE — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant assisted living community in Tennessee. The buyer plans to convert the asset into a behavioral health facility. Upon the seller securing the specialized zoning entitlements for inpatient behavioral use, Blueprint’s team took the asset to market and procured an offer from a behavioral healthcare owner-operator that originally planned to purchase the asset, deploy capital improvements, and license the building as an inpatient substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare …
RIO RANCHO, N.M. — JLL Capital Markets has arranged a refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, a suburb north of Albuquerque. JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company. The amount of the loan was not disclosed. Fairwinds Rio Rancho totals 211,213 square feet. It was built in 1997 and renovated in 2019. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer led the JLL team.
MACEDONIA, Ohio — Walker & Dunlop Investment Sales (WDIS) has arranged the sale of American House Macedonia, a 100-unit assisted living and memory care community in the Northeast Ohio city of Macedonia. Sonida Senior Living Inc. (NYSE: SNDA) acquired the community for $10.7 million, bringing the total number of the company’s Ohio properties to 11. The seller was not disclosed. The asset, built in 2015, experienced operational challenges due to the COVID-19 pandemic, according to Walker & Dunlop. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop …