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AcquisitionsAffordable HousingCaliforniaNews

Avanath Capital Purchases Grove Senior Apartments in Garden Grove, California for $19.8M

by Jeff Shaw

GARDEN GROVE, CALIF. — Irvine, Calif.-based Avanath Capital Management has purchased The Grove Senior Apartments, a seniors housing property located at 12721 Garden Grove Blvd. in Garden Grove. Meta Housing sold the asset for $19.8 million. The Grove, which is currently 100 percent occupied, features 85 units, a fitness center, club room, courtyard and bus stop directly in front of the property. Rents range from $840 to $1,729 per month for units ranging from 542 to 815 square feet. While Avanath is headquartered in Irvine and has more than 10,000 …

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CaliforniaFinanceNews

Lument Provides $28M Fannie Mae Refinancing for La Vida Del Mar in Solana Beach, California

by Jeff Shaw

SOLANA BEACH, Calif. — Lument has provided a $28 million Fannie Mae refinancing for La Vida Del Mar, a 105-unit assisted and independent living community in Solana Beach, approximately 20 miles north of San Diego. The borrower is Senior Resource Group and its equity partner, Collins Development Co. Doug Harper of Lument’s Western region seniors housing and healthcare production team led the transaction. The loan features a 10-year term, five years of interest-only payments and 30-year amortization. In addition to refinancing existing debt, the closing provided cash-out proceeds.

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AcquisitionsCaliforniaCCRCNews

Bayshire Senior Communities Acquires Two Brookdale Properties in Southern California

by Jeff Shaw

CARLSBAD and RANCHO MIRAGE, Calif. — Bayshire Senior Communities, a boutique senior living owner and operator, has acquired Brookdale Carlsbad and Brookdale Rancho Mirage, renaming the two communities as Bayshire Carlsbad and Bayshire Rancho Mirage. Both properties are continuing care retirement communities, each featuring 90 independent and assisted living units, 24 memory care units and 45 skilled nursing units. Carlsbad is located north of San Diego, and Rancho Mirage is part of the Inland Empire Bayshire is an owner-operator headquartered in Escondido, a suburb of San Diego.

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AcquisitionsCaliforniaNewsOperations

Pegasus Adds Two Former Brookdale Communities Near Sacramento to Operational Portfolio

by Jeff Shaw

ELK GROVE and ROSEVILLE, Calif. — National operator Pegasus Senior Living has added two Brookdale communities, located in the Sacramento suburbs of Elk Grove and Roseville, to its portfolio of communities. The additions bring Pegasus’ total portfolio to 38 communities. Both offer assisted living and memory care services. Elk Grove Park totals 88 units while Sterling Court features 101 units.

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Affordable HousingCaliforniaDevelopmentNews

Vendaval Plans 400-Unit Affordable Community in Moreno Valley, California

by Jeff Shaw

MORENO VALLEY, Calif. — Vendaval Corp. has unveiled plans for an affordable housing community for seniors and veterans in Moreno Valley, approximately 65 miles east of downtown Los Angeles. The property is situated on seven acres and will include more than 400 units. A name for the community was not released. Additional facilities will include entertainment venues, restaurants and other amenities totaling 30,000 square feet to support both residents and the surrounding community. The development will be self-sustaining, and programs will be free. Revenues from the apartment rentals and retail …

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AcquisitionsAssisted LivingCaliforniaNews

SLIB Arranges $7.8M Sale of FountainWood Lodge Community in Orangevale, California

by Jeff Shaw

ORANGEVALE, Calif. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of FountainWood Lodge, a 90-unit assisted living and memory care community in Orangevale, a suburb of Sacramento. The community was built in 1981 and has undergone several renovations. The 63,930-square-foot building is located on six acres of land. The seller is a nonprofit owner-operator. A regional owner-operator acquired the property for $7.8 million. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB handled the transaction. “FountainWood Lodge has a great reputation in the local market, and the buyer …

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AcquisitionsCaliforniaNevadaNewsWashington

Aegis Living, Blue Moon Capital Buy Seniors Housing Portfolio in Western US from Healthpeak for $350M

by Jeff Shaw

BELLEVUE, Wash. and BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT). Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector. The portfolio is located in Washington, California and Nevada, totaling 702 units of assisted living and memory care. The acquired …

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AcquisitionsCaliforniaNewsSkilled Nursing

Ensign Group Acquires 297-Bed Skilled Nursing Portfolio in Southern California

by Jeff Shaw

SAN DIEGO, FULLERTON and HAWTHORNE, Calif. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Southern California on a triple-net lease basis. The properties include Golden Hill Post Acute, a 99-bed facility in San Diego; St. Catherine Healthcare, a 99-bed facility in Fullerton; and Camino Healthcare, a 99-bed facility in Hawthorne. This acquisition brings Ensign’s growing portfolio to 231 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.

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AcquisitionsAssisted LivingCaliforniaNews

Kisco Buys 139-Unit Aria Park of Woodbridge in Irvine, California

by Jeff Shaw

IRVINE, Calif. — Kisco Senior Living has acquired Atria Park of Woodbridge, a 139-unit seniors housing community in Irvine, approximately 40 miles southeast of downtown Los Angeles. Healthpeak sold the 103,000-square-foot property for an undisclosed price. The seller recently completed a $9 million renovation at the community that converted some assisted living units into a memory care neighborhood. In addition to taking over management duties from Atria Senior Living, Kisco plans to rename the community Woodbridge Terrace of Irvine as part of the results of a resident poll. The executive …

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AcquisitionsCaliforniaNews

Auerbach Funds Acquires 70-Unit Foothill Village Community in Angels Camp, California

by Jeff Shaw

ANGELS CAMP, Calif. — A partnership between Auerbach Funds and Prado Senior Living, an affiliate of Mello Group LLC, has acquired Foothill Village, an independent living, assisted living and memory care community in Angels Camp, approximately 80 miles southeast of Sacramento. The new owners plan to renovate the 70-unit community, including the addition of new dining outlets, outdoor amenities and a lounge that overlooks the Sierra Nevada Mountains. “We were able to acquire the asset off market during the height of COVID-19 pandemic,” says Peter Auerbach, founder and managing partner …

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