SAN DIEGO — Blueprint has arranged the sale of the Cloisters of the Valley, an assisted living community in the hills of Mission Valley, an affluent northern submarket of San Diego. The seller was an owner-operator seeking to retire. Bayshire Senior Living, a growing regional owner-operator with three other communities in the greater San Diego area, acquired the property. The property consists of 70 beds in 35 units. The purchase price was $7.3 million, or just over $207,000 per unit. The Blueprint team consisted of Jacob Gehl, Humair Sabir and …
Assisted Living
BREWSTER, Mass. — OREC Securities, the investment banking affiliate of Lancaster Pollard, has arranged the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community is a five-star rated facility with 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not …
ReNew, Merrill Gardens Form Joint Venture to Operate Bulk of Former New Senior Portfolio
by Jeff Shaw
SEATTLE and TOLEDO, Ohio — Merrill Gardens, a Seattle-based owner-operator, has formed a joint venture with ReNew, a Toledo-based REIT. The two companies will co-own 26 of the 28 seniors housing properties that ReNew is acquiring from New Senior Investment Group.