LEXINGTON, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Legacy Reserve at Fritz Farm in Lexington. The property opened in 2017 and comprises 114 independent living, 38 assisted living and 15 memory care units. Atlas Senior Living sold the asset, which was 98 percent occupied. KIRCO was the buyer and will keep Atlas on as the operator. The price was not disclosed.
PENDLETON COUNTY, Ky. — Senwell Senior Investment Advisors has arranged the sale of a 60-bed skilled nursing facility in Pendleton County. The facility was family owned since the 1960s. Prior to the COVID-19 pandemic, the building was fully occupied with a waitlist. While the pandemic presented challenges, the facility was slowly increasing its occupancy month over month. The undisclosed buyer owns facilities in the same geographical footprint. Ben Bohland facilitated the transaction.
ELIZABETHTOWN and RICHMOND, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Acadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown. Acadian Cove offers 49 units of assisted living and was built in 2009. Willow Creek feature 65 units of assisted living and memory care and was built in 1998. The seller was a REIT divesting to focus on liquidating capital for other investments. The buyer was a Northeast-based operator looking to add to its growing Midwest portfolio. The price was not disclosed. Daniel Geraghty …
JACKSON, Ky. — Strawberry Fields REIT has acquired a skilled nursing facility located in Jackson, a small city of fewer than 3,000 residents approximately 90 miles southeast of Lexington. The Landmark of Breathitt County Rehabilitation & Nursing Center (formerly operated as the Nim Henson Geriatric Center) is a 120-bed facility that was built in 1971. The facility is the only skilled nursing property available in Breathitt County and was most recently renovated in 2021. Upon purchase, the facility was added to the Landmark master lease. A&M Healthcare Investments, which operates …
PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas. An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price. CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller. …
LOUISVILLE, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Forest Hills Commons, a 119-unit assisted living and memory care community in Louisville. Built in 2019, Forest Hills is located 14 miles from downtown Louisville on 4.4 acres. The seller is a regional owner-operator exiting the state of Kentucky. The buyer is a Midwest-based owner-operator looking to add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Daniel Geraghty handled the transaction on behalf of SLIB. “The seller developed this asset …
HEBRON, Ky. — Woda Cooper Cos. and Housing Services Alliance have completed Sparrow Ridge, an affordable seniors housing community in Hebron, just across the Ohio River from Cincinnati. The 96 units are reserved for residents over age 55 who earn between 30 and 80 percent of the area median income (AMI). Development costs were estimated at $18.9 million. The affordable development was made possible in part by $1.5 million in Low-Income Housing Tax Credits (LIHTCs) allocated by Kentucky Housing Corporation (KHC). Affordable housing investor CREA LLC purchased the tax credits …
COVINGTON, Ky. — Fairstead has completed a $4.5 million overhaul of Colony Apartments, a 43-year-old affordable seniors housing community in Covington, located just across the Ohio river from Cincinnati. Residents of the 137-unit complex received home upgrades, including new kitchens, bathrooms, cabinetry, energy-efficient appliances and lighting, as well as lower monthly utility bills. Fairstead also partnered with local organizations to bolster on-site support services at the property. Financing for the rehabilitation of Colony Apartments came from the Kentucky Housing Corp., Capital One and Boston Financial. “Kentucky Housing Corp. was proud …
BOWLING GREEN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sales of two seniors housing communities totaling 92 units in Bowling Green. The assets include the 61-unit Chandler Park Assisted Living and the 31-unit Chandler Memory Care. The properties are 2.5 miles from each other. The seller is a commercial real estate development company based out of Bowling Green. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint throughout the Midwest. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the …
NEW YORK CITY — JLL Capital Markets has arranged $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast. JLL worked on behalf of the borrowers, Sculptor Real Estate and its operating partners, to secure two separate nonrecourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the undisclosed seller in the marketing and sale of the portfolios. …
