Iowa

MASON CITY and INDIANOLA, Iowa — JLL Capital Markets has arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. The facilities, Vintage Hills in Indianola and Country Meadow Place in Mason City, total 118 units combined. Jaybird already managed both properties prior to the acquisition. JLL secured two loans totaling $17.9 million, or $151,436/unit, representing greater than 80 percent of the total purchase price. One loan was facilitated through a regional bank, while the other utilized the HUD/FHA …

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MASON CITY, Iowa — Evans Senior Investments (ESI) has arranged the sale of Country Meadow Place, a 56-unit assisted living and memory care community in Mason City, approximately midway between Des Moines and Minneapolis. An independent owner seeking to exit the industry sold the property to its existing operator for $13 million, or $232,142 per unit. The community was originally built in 1985 as a 36-unit memory care community. In 2013, Country Meadow was acquired and five years later underwent a 20-unit assisted living expansion.  At the time of marketing, …

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WEST DES MOINES, Iowa — Highmark Senior Living, a Hubbell Realty Co. affiliate, has taken over management of a portfolio of Edencrest senior living communities throughout Iowa. Edencrest communities offer studio, one-bedroom and two-bedroom units. Highmark Senior Living manages six communities with more than 290 residents and roughly 235 employees throughout Iowa. Edencrest communities include: Edencrest at Beaverdale, Edencrest at Green Meadows, Edencrest at The Legacy, Edencrest at Riverwoods, Edencrest at Siena Hills, Edencrest at Timberline, and Edencrest at Tuscany.

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BETTENDORF, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Iowa Masonic, a 79-bed skilled nursing facility and 40-unit independent living community in the Davenport suburb of Bettendorf. The seller was a local nonprofit that sought to sell in order to turn the business over to a company with experience that could ensure the long-term viability of the facility. The buyer was a private owner with additional communities in Iowa. The price was not disclosed. Ryan Saul and Nick Cacciabando of SLIB handled the transaction.

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IOWA and KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in Iowa and Kansas. Both communities were originally constructed in the mid- to late 90s, were purpose built for assisted living, and are located in markets with strong senior demographics, according to Blueprint. Blueprint marketed the opportunity as a component of two larger portfolios that totaled 23 seniors housing communities throughout the Southeast, Midwest and Mid-Atlantic. The buyer was a regional owner-operator. The seller, price, and names and locations of the communities …

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KANSAS, IOWA and NEBRASKA — Tutera Senior Living & Health Care has added 10 communities in Kansas, Iowa and Nebraska to its management portfolio. The new assets expand the company’s footprint by more than 20 percent and total 443 units of assisted living, memory care and residential care. Tutera is retaining all employees at the newly added communities to ensure continuity of care for residents.  The 10 communities are: IOWA  •          Anamosa – Pinicon Place Senior Living •          Carroll – Rolling Meadows Senior Living •          Clarinda – Eiler Place Senior Living •          Council Bluffs …

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LENOX, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vintage Park, a 40-unit assisted living and memory care community in Lenox, 25 miles north of the state border with Missouri. The community totals 3,000 square feet on four acres of land. The seller is a local owner and operator looking to exit the seniors housing sector. The buyer is a joint venture between an East Coast investor and a growing Midwest operator. The price was not disclosed. This property is the second acquisition in the state …

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OTTUMWA and FORT MADISON, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities totaling 96 units in Iowa. The properties are located in Ottumwa, just north of the Missouri border, and Fort Madison, just across the Mississippi River from Illinois. The facilities were built in 2007 and 2008. The properties are 40,939 and 38,947 square feet, and are situated on approximately 6.95 and 8.26 acres of land. The buyer was an Iowa-based owner-operator that plans to invest in enhancing the …

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OSAGE, CHARLES CITY and CLEAR LAKE, Iowa — SVN Senior Housing has arranged the sale of a three-property, 130-unit assisted living portfolio in Iowa. T The properties were located in the communities of Osage, Charles City and Clear Lake and were stabilized at the time of sale. A private investment group sold the assets to an Iowa-based investment group with properties in Iowa, Minnesota and Wisconsin. Jennifer Espeland and John Klement led the SVN team in the transaction.

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