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Trilogy Health Services Announces Expansion Plans in Indiana, Kentucky, Michigan, Ohio

by Jeff Shaw

LOUISVILLE, Ky. — Trilogy Health Services has announced an investment plan to develop and expand senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio.  The investment aims to help address the growing demand for senior living accommodations and services. The plan includes expanding facilities across several states and developing a new campus. Trilogy will kick off its patio home expansions this summer in Sylvania, Ohio, with 26 new independent living patio homes for seniors at The Lakes of Sylvania. The expansion is projected to start in July …

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AcquisitionsIndianaNewsSkilled Nursing

ESI Brokers Sale of Two Skilled Nursing Facilities in Indiana

by Jeff Shaw

PLYMOUTH and LOGANSPORT, Ind. — Evans Senior Investments (ESI) has arranged the sale of two skilled nursing communities that were family-owned and operated in Northern Indiana.  Pilgrim Manor, located in Plymouth, was built in 1969, with a significant renovation in 2012. The facility offers 78 skilled nursing beds, including 40 private rooms. Despite experiencing financial challenges and a 73 percent occupancy rate at the time of sale, the facility maintained an four-star CMS rating. Chase Center, situated in Logansport, opened in 1978. The facility offers a total of 101 skilled …

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AcquisitionsIndianaNewsOhio

Berkadia Negotiates Sale of 247-Unit Midwestern Portfolio

by Jeff Shaw

INDIANA and OHIO — Berkadia has arranged the sale of two recently developed, Class A senior living communities offering independent living, assisted living and memory care services in Indiana and Ohio.  Berkadia Seniors Housing & Healthcare, led by Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers, closed the 247-unit transaction on behalf of Indianapolis-based Leo Brown Group. The buyer was a long-time owner of senior living communities. Leo Brown Group developed the properties, which Traditions Management operates.The assets were built in 2020 and 2021.

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AcquisitionsIndianaKentuckyNewsOhio

Walker & Dunlop Negotiates Sale of 700-Unit Midwestern Portfolio

by Jeff Shaw

OHIO, KENTUCKY and INDIANA — Walker & Dunlop Investment Sales has arranged the sale of the Magnolia Springs Portfolio, consisting of seven communities and nearly 700 units across Ohio, Kentucky and Indiana. The seller was an institutional owner-operator while the buyer was a publicly traded REIT. The communities are 10 years old on average. The buyer plans to strategically invest capital into the physical plant of each community to take advantage of strong submarket supply and demand fundamentals. Josh Jandris, Brett Gardner and Alex Vice led the Walker & Dunlop …

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CCRCDevelopmentFinanceIndianaNews

Ziegler Arranges $32M Financing for Hoosier Village Campus Expansion in Zionsville, Indiana

by Jeff Shaw

ZIONSVILLE, FORT WAYNE and COLUMBUS, Ind. — Ziegler has arranged $32 million in bank financing for BHI Senior Living, a faith-based nonprofit organization established in 1904 that owns and operates 10 market-rate continuing care retirement communities (CCRCs) across the states of Indiana, Ohio and Michigan. The financing is secured by three of BHI’s communities in Indiana: Hoosier Village in Zionsville, The Towne House in Fort Wayne and Four Seasons in Columbus. The portfolio comprises 384 independent living units, 524 assisted living units, and 225 skilled nursing units. BHI will finance …

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Affordable HousingAssisted LivingDevelopmentIndianaNews

Evergreen Real Estate Group Completes $30M Assisted Living Community in Valparaiso, Indiana

by Jeff Shaw

VALPARAISO, Ind. — Evergreen Real Estate Group has completed Green Oaks of Valparaiso, a $30 million assisted living community for low-income seniors in Valparaiso, a city in northwest Indiana.  The three-story project includes 120 units and is located at 2550 W. Morthland Drive. All residences are reserved for seniors age 62 and older, with incomes at or below 60 percent of the area median income. A financial assistance program is available for qualified applicants. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as the general contractor on …

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AcquisitionsAssisted LivingIndianaNews

Blueprint Brokers Sale of Two-Property Portfolio in Northwest Indiana

by Jeff Shaw

MICHIGAN CITY and MERRILLVILLE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two communities in Indiana.  The two assisted living and memory care communities are located in Michigan City and Merrillville, both located on the south shore of Lake Michigan southeast of Chicago. The portfolio totals 119 units. Blueprint positioned the portfolio as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid Waiver reimbursement rate enhancements that were passed in July of 2023. The buyer, seller and price were …

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Affordable HousingDevelopmentIndianaNews

Evergreen Real Estate Group Completes 120-Unit Affordable Assisted Living Community in Goshen, Indiana

by Jeff Shaw

GOSHEN, Ind. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana.  Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased.  Located at 282 Johnson St., the $30 million project replaces a vacant, three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story …

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AcquisitionsIndianaNews

Blueprint Brokers Sale of Community in Indianapolis for Behavioral Health Conversion

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Indianapolis. The buyer, seller, price and details on the property were not released, but the new owner plans to convert the property to an inpatient substance use disorder clinic. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsAssisted LivingIndianaNews

Ziegler Negotiates Sale of 41-Unit BrightStar Senior Living Fort Wayne in Indiana

by Jeff Shaw

FORT WAYNE, Ind. — Ziegler, as exclusive financial advisor to Marquee Capital (formerly Berengaria Development), has arranged the sale of BrightStar Senior Living Fort Wayne. The community offers 41 units of assisted living and memory care in Fort Wayne. Marquee Capital developed the property, which BrightStar Senior Living has operated since it opened in 2018. The 3.25-acre asset is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne. Lutheran Life Villages (LLV) purchased the property and took over operations. LLV is a local, faith-based, nonprofit organization …

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