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Independent Living

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LTC Acquires $195M Portfolio in Wisconsin 

by Hayden Spiess

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. has completed the acquisition of a portfolio of senior living communities located in Wisconsin for $195 million. Totaling 520 independent living, assisted living and memory care units, the portfolio includes Hamilton House Senior Living in Cedarburg; Eagle Point Senior Living in Appleton; Kettle Park Senior Living in Stoughton; Reena Senior Living in Fort Atkinson; and Cardinal View Senior Living in Middleton. Together, the communities have an average age of six years.  LTC funded the senior housing operating portfolio (SHOP) acquisition with a line of …

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Wisconsin-Community
AcquisitionsAssisted LivingIndependent LivingMemory CareNewsWisconsin

SLIB Arranges Sale of 125-Unit Community in Wisconsin

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 125-unit community located in Wisconsin.  The property, which was 90 percent occupied at the time of sale, features independent living, assisted living and memory care residences.  Jason Punzel, Jake Anderson and Ryan Saul of SLIB brokered the transaction on behalf of the undisclosed seller. 

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AcquisitionsAssisted LivingIndependent LivingMemory CareMinnesotaNews

Oppidan Sells Minneapolis Community for $140M

by Hayden Spiess

MINNEAPOLIS — Oppidan Investment Co. has sold a senior living community located in Minneapolis for $140 million, according to a recently published certificate of real estate value.  Ventas, doing business as VLSHRE PILLARS LLC, was the buyer.  Oppidan originally opened the community, The Pillars of Prospect Park, in May 2020. Situated with proximity to the University of Minnesota campus, the property totals 283 apartments, including 133 independent living, 106 assisted living and 44 memory care units. Amenities at the community include an onsite bistro, salon spa, chapel, fitness center, golf simulator …

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsTexas

Clearwater Living Adds 121-Unit Community in Dallas to Management Portfolio

by Hayden Spiess

DALLAS — Clearwater Living has added a newly developed senior living community located in Dallas to its management portfolio.  Totaling 121 apartments, the property offers independent living, assisted living and memory care options. Residences include studio, one- and two-bedroom units.  Formerly known as Anthology of Highland Park, the community will now be operated as Clearwater Highland Park. Amenities at the property include a fitness center, salon, theater, creative studio, landscaped terraces, indoor and outdoor gathering spaces and access to physical, occupational and speech therapies.  Clearwater’s portfolio now totals 16 communities across …

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DevelopmentIndependent LivingNewsTexas

EGRE Opens 140-Unit Redeveloped Community in Metro Fort Worth

by Hayden Spiess

TARRANT COUNTY, Texas — EGRE, a developer that specializes in transforming older and distressed assets, has opened Manor Independent Living in Tarrant County, within the Fort Worth metro. EGRE recently completed a redevelopment of the property, which totals 140 units for adults age 55 and older.  Monthly rental rates at the property, which was previously a skilled nursing facility with low occupancy, begin at $1,499 and include utilities. Amenities at the property include three restaurant-style meals daily for an additional $400 monthly; health, wellness and recreational programs; a gym; game room; …

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Hankin Group Announces $67M Expansion at Community in Metro Philadelphia

by Hayden Spiess

EXTON, Pa. — Vertically integrated real estate company Hankin Group has announced plans for a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia.  Upon completion, the expansion will add 117 independent living residences to the property, which currently totals 107 assisted living and memory care units, with 9,000 square feet of amenity space.  The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access …

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AcquisitionsAssisted LivingIndependent LivingNewsTexas

Berkadia Brokers Sale of 124-Unit Community in Austin

by Hayden Spiess

AUSTIN, Texas — Berkadia has brokered the sale of Village on the Park Onion Creek, a 124-unit independent and assisted living facility located in South Austin. A publicly traded REIT acquired the property for an undisclosed price.  Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano of Berkadia Seniors Housing & Healthcare arranged the sale on behalf of the seller, Bridgewood Property Co., the original developer.  Bridgewood’s wholly owned management company, The Aspenwood Co., will continue to operate the property on behalf of the new owner. 

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Focus Healthcare Partners Underway on $28M Renovation at Independent Living Property in New York

by Hayden Spiess

PORT WASHINGTON, N.Y. — Focus Healthcare Partners is currently underway on a $28 million renovation project at an independent living property in Port Washington.  Focus Healthcare recently acquired the community, which is being rebranded as The Sinclair at Port Washington. Previously, the community was operated as The Harborside. The property’s new name pays homage to author Sinclair Lewis, who lives in Port Washington during the early 1900s.  Planned upgrades include a new wellness center, apartment renovations, refreshes to interior common spaces, a new culinary program, a movie theater, expanded outdoor recreation …

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Distinctive Living Acquires Ownership of South Florida Community in Joint Venture

by Hayden Spiess

NAPLES, Fla. — Senior living operator, developer and investor Distinctive Living has acquired ownership of Seascape at Naples, a community located in Naples, in a joint venture with an undisclosed global investment firm.  Totaling 198 units, Seascape at Naples features independent living, assisted living and memory care residences. Amenities at the property, which Distinctive Living manages, include a heated pool, bistro, salon, spa, fitness center, outdoor courtyard and walking paths.  According to the company, having partial ownership will allow Distinctive Living to fully integrate its proprietary operation solutions.  “Seascape at Naples …

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Company NewsIndependent LivingLegal IssuesNewsSkilled Nursing

NHI Issues Notice of Non-Compliance to Tenant NHC 

by Hayden Spiess

MURFREESBORO, Tenn. — National Health Investors (NYSE: NHI), has issued a formal, written notice to an affiliate of National HealthCare Corp. (NYSE: NHC) that the tenant is in default under its master lease with NHI.  According to NHI, NHC is in non-compliance with multiple non-monetary provisions of the master lease agreement, which dates back to October 1991. The affiliate of NHC occupies 32 of NHI’s skilled nursing facilities and three of the company’s independent living facilities.  According to an SEC filing by NHC, the company’s lease agreement with NHI includes a …

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