LAKE CHARLES, La. — Evans Senior Investments (ESI) has arranged a stock sale for a two-property skilled nursing portfolio in southwest Louisiana. The transaction was completed on behalf of an independent owner. Built in 1970 and 1972 and situated just 10 miles from one another in the Lake Charles area, the two communities comprise a total of 350 beds. Prior to the COVID outbreak, the portfolio maintained an average occupancy rate of 72 percent. A few months into the pandemic, Hurricane Laura devastated the area, causing both communities to require …
CENTER POINT and JONESVILLE, La. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 244 licensed beds in Center Point and Jonesville. The properties are located approximately 40 miles away from each other and approximately midway between New Orleans and Shreveport in the central part of the state. The seller was CommCare. Omega Healthcare REIT alongside its operator, Venza Care, acquired the assets for an undisclosed price. Brooks Blackmon and Lauren Nagle led the Blueprint team.
NEW ORLEANS — Liberty Senior Living has announced Sai Raj Kappari as the executive director of The Carrollton, a senior living community in New Orleans. Kappari’s received a doctorate in pharmacy at Jawaharlal Nehru Technological University and completed a residency at Krishna Institute of Medical Sciences in India. Kappari then decided to earn his master’s degree in gerontology at the University of Southern California, Los Angeles. After he earned his master’s, Kappari worked in gerontological research for several years, presenting at various conferences. In 2020, he moved to Louisiana and …
WEST MONROE, La. — Marcus & Millichap has brokered the sale of Rosemont of West Monroe, a 30,000-square-foot assisted living and memory care facility in West Monroe, approximately midway between Shreveport and Jackson, Mississippi. Rod Llanos in Marcus & Millichap’s Houston office specializing in investment sales of seniors housing properties had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was also a limited liability company. Chris Shaheen, Marcus & Millichap’s broker of record in Louisiana, assisted in closing this transaction. …
NEW ORLEANS — Liberty Senior Living has opened The Carrollton, a seniors housing adaptive reuse of a former courthouse in New Orleans. The community features 73 assisted living and 20 memory care units. The project renovated 16,000 existing square feet, while adding 85,000 more. Construction of Carrollton Courthouse and the adjacent jailhouse were commissioned by Jefferson Parish in 1854 and completed in 1855. Architect Henry Howard designed the property in the Greek Revival style. The Carrollton Courthouse served as the seat of government for Jefferson Parish until it was annexed …
HAMMOND, La. — Phoenix Senior Living (PSL) has completed an independent living at The Phoenix at Hammond in the New Orleans suburb of Hammond. PSL opened the community in 2021 with assisted living and memory care services available. PSL realized the town is underserved in the independent senior living space, so added 24 independent living apartments, which are now open. First Guaranty Bank is the lending partner for this project.
LOUISIANA — VIUM Capital has provided $36.3 million in financing for a portfolio of five skilled nursing facilities in Louisiana. The bridge loan refinances several tax-exempt bond issuances and bank term loans for the nonprofit borrower. VIUM partnered with a local bank to provide the funds. The long-term goal is to replace the financing with HUD-insured loans in the future.
BATON ROUGE, La. — Live Oak Bank has closed a $33.5 million loan for Claiborne Senior Living. The financing facilitated a partner buyout for a Class A, 213-unit independent living, assisted living and memory care community, built in 2017 and located in Baton Rouge. Claiborne Senior Living took over management of the property at the beginning of 2021, and has since added net 41 residents through November 2021. Locust Point Capital partnered with Claiborne to complete the capital stack, providing a preferred equity investment. Approximately $1.8 million in loan proceeds …
HARAHAN, La., and CHARLOTTESVILLE, Va. — Quality Senior Living Partners (QSLP), a LongueVue Capital portfolio company, has sold two senior living communities: The Blake at Colonial Club in Harahan and The Blake at Charlottesville in Charlottesville. Each community features 118 units of assisted living and memory care. The buyer and price were not disclosed. In 2017, LongueVue partnered with the team of senior living industry executives at QSLP, a Pensacola, Fla.-based developer, owner and operator of upscale senior housing communities, to expand its resort-style communities to underserved markets.
CHICAGO — Evans Senior Investments (ESI), a Chicago-based broker, has assisted a Louisiana-based owner-operator in its exit from the long-term care industry. The portfolio consisted of three separate transactions for all five of the seller’s communities. The combined purchase price for all three transactions was $99 million, or $137,000 per functional bed/unit. Four of the five communities were built between 1996 and 2011, and the vast majority of beds were private resident rooms. The first tranche of the portfolio consisted of one skilled nursing facility located in Rayne, Louisiana. The …
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