CHICAGO — Blueprint has brokered the sale of an affordable seniors housing community located in metro Chicago. Developed in the mid-2000s, the assisted living property operates under the Illinois Supportive Living Program. A Chicago-based owner and operator acquired the property for an undisclosed price. Connor Doherty and Ryan Kelly of Blueprint advised the seller in the transaction.
CHICAGO and PHILADELPHIA — A joint venture between Bain Capital and Capitol Senior Housing has sold a 344-unit senior living portfolio located in the Chicago and Philadelphia metros. The portfolio comprises two properties near Philadelphia and two properties located in the North Shore suburbs near Chicago. Jay Wagner, Rick Swartz, Aaron Rosenzweig and Jim Dooley of JLL Capital Markets represented the seller in the transaction. The buyer was not disclosed.
SUCCASUNNA, N.J. — Senior Living Investment Brokerage has arranged the sale of a nine-acre entitled development site located in Succasunna an unincorporated community located in Roxbury Township, roughly 45 miles northwest of New York City. According to SLIB, the site is approved for the development of a senior living community totaling 175 units of independent living, assisted living and memory care. A private owner sold the property to a New Jersey-based developer for an undisclosed price. Dave Balow and Toby Siefert of SLIB brokered the transaction. “This transaction allows the Seller …
FAIR LAWN, N.J. — Finance and investment management firm PCCP has provided a $66.9 million loan for the development of a new active adult community located in Fair Lawn, roughly 25 miles northwest of New York City. Sterling Properties and Danbro Properties received the financing. Dubbed Plaza Greene, the community will total 145 residences across four stories, with 127 market-rate apartments and 18 affordable units. The development will also feature 24,000 square feet of retail space, anchored by a 22,300-square-foot Sprouts Farmers Market. Completion of construction is scheduled for 2027. Based …
BEDFORD, DANVILLE and ROANOKE, Va. — Bowery Investment Partners has acquired three senior living communities in Virginia. The communities include Cardinal Senior Living at Bedford, Cardinal Senior Living at Danville and Cardinal Senior Living at Roanoke. Together, the properties total 164 assisted living and memory care units. Moving forward, the communities will operate as Riverstone Senior Living at Bedford, Riverstone Senior Living at Danville and Riverstone Senior Living at Roanoke. Viva Senior Living has been chosen to operate the communities on behalf of Bowery.
By Hayden Spiess CHICAGO — New players are increasingly drawn to the seniors housing sector due to strong market fundamentals and the industry’s proven performance. Limited new inventory and high occupancies, along with a robust population of aging individuals and rent growth, are generating healthy returns for investors. “The fundamentals have never been stronger,” says Tom Errath, managing director and head of research at Harrison Street Asset Management (HSAM). Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign …
EAST ISLIP, N.Y. — Benchmark Senior Living and National Development have acquired a property in East Islip on Long Island, with plans to develop a new seniors housing community at the site. The community, Benchmark at East Islip, will total 90 units, with 64 assisted living and 26 memory care apartments. Expected to open in 2028, the property will comprise roughly 88,000 square feet. Amenities at the community will include multiple dining venues, a theater, fitness center, salon and landscaped outdoor spaces. Benchmark currently operates 70 senior living communities throughout New …
BALTIMORE — Capital Funding Group (CFG) has provided $318.8 million in financing across two transactions for a skilled nursing operator. The transactions include $288.8 million in acquisition financing for a portfolio of 22 skilled nursing facilities totaling 1,884 beds, as well as a $30 million working capital line of credit for the borrower’s full skilled nursing portfolio. The portfolio totals 40 properties and 4,224 beds across Missouri, Kansas and Ohio. Andrew Jones and Catherine Mansel of CFG originated the acquisition financing, and Jeff Stein and Jim Ginty originated the working capital …
SCOTTSDALE, Ariz. — Berkadia has arranged the sale and financing of Acoya Shea, a senior living community located in Scottsdale. Opened in September 2023, the property totals 147 units. Dave Fasano, Ross Sanders, Cody Trember and Mike Garbers of Berkadia brokered the sale on behalf of the seller, Harrison Street Asset Management. Austin Sacco, Garrett Sacco, Steve Muth and Alec Rosenfeld of Berkadia advised the undisclosed buyer on the financing. Cogir Senior Living will continue to operate the community on behalf of the new ownership. Amenities at the property include multiple …
BOCA RATON, Fla. — Investment management firm Bridgepoint Group has entered into an agreement to acquire Florida-based Kayne Anderson Real Estate for roughly $1.4 billion. The deal is scheduled to be completed before the end of this year, subject to shareholder and regulatory approvals. Founded in 2007, Kayne Anderson Real Estate invests in alternate real estate sectors, including student housing, seniors housing, multifamily and self-storage. The company maintains approximately $22 million in assets under management, including debt. Since entering the seniors housing space in 2013, Kayne Anderson Real Estate has invested …
