OKLAHOMA CITY — Lument has arranged a $10.7 million loan to facilitate the acquisition of Bellevue Health & Rehabilitation, a 119-unit, 150-bed skilled nursing facility (SNF) in Oklahoma City. Bill Wilson, managing director with Lument in Kansas, led the transaction for Lument. To provide funding for the acquisition, Wilson tapped Lument’s debt syndications team, led by Steve McGee and Sangjin Na, to place the loan with a community bank. Proceeds from the loan were utilized by the long-time operator to acquire 100% ownership of the facility. Prior to the acquisition, …
SHAWNEE, Okla. — Marcus & Millichap has brokered the sale of Belfair of Shawnee, a 31,000-square foot memory care property in Shawnee, a suburb of Oklahoma City. A limited liability company sold the asset to another limited liability company for an undisclosed price. Rod Llanos, a first vice president 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. Steve Greer, Marcus & Millichap’s broker of record in Oklahoma, assisted in closing the …
TULSA and OKLAHOMA CITY, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of two memory care communities totaling 54 units in Tulsa and Oklahoma City. Built in 2015 and 2016, the communities were fully stabilized in 2018 and 2019, were resilient through the pandemic and sharply rebounded to near 100 percent occupancies at the time of marketing in mid-2022. The buyer was a Texas-based owner-operator focused on standalone memory care in the region. Blueprint also assisted the buyer with debt placement through an existing bank relationship. The …
JAY, Okla. — Plains Commercial has arranged the sale of Monroe Manor, a seniors housing community in Jay, a small city in the northeast corner of Oklahoma. Monroe Manor is a 1960s vintage skilled nursing facility licensed for 98 beds that was expanded in the early 1990s. The seller is an Oklahoma-based operator that was looking to exit the industry and retire. The buyer is an Illinois-based owner-operator that had previously operated in Oklahoma and was looking to re-enter the state. The sale involved a unique HUD deed restriction that …
OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 38-unit memory care community in an affluent neighborhood of Oklahoma City. The seller was a private equity fund seeking to exit its only standalone memory care property. Built in 2010, the community had strong historical occupancy, but was negatively impacted by the COVID-19 pandemic and was in the early stages of a performance rebound. The community was positioned as a value-add opportunity for buyers to capitalize on the strong demographics and surprising scarcity of standalone memory …
CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based brokerage firm, has arranged the sale of five communities totaling 440 units across two separate transactions. In the first acquisition, SLIB arranged the sale of four communities in Kokomo, Ind.; Pueblo, Colo.; Stillwater, Okla.; and Cheyenne, Wyo. The assets total 351 units and the portfolio averages 87 percent occupancy. The seller was a long-standing provider of seniors housing with a portfolio of over 30 communities. The buyer was a regional private equity group focused on the seniors housing space that aligned …
TULSA and CUSHING, Okla. — Plains Commercial has arranged the sale of three skilled nursing facilities in Tulsa and Cushing. The portfolio totals 243 licensed beds. Two of the buildings were built in the 1960s and 1970s, and had undergone extensive renovations in recent years. The third was built in 1997. The portfolio was legacy owned, having been very rarely available on the market in its operating history. The seller is a local operator that sought to exit the industry. The buyer is one of the largest skilled nursing operators …
TULSA, BROKEN ARROW, MUSKOGEE and TAHLEQUAH, Okla. — Longview Senior Housing has expanded its relationship with 12 Oaks Senior Living to manage four additional assisted living and memory care communities in Oklahoma. 12 Oaks has assumed management of The Grove at Midtown in Tulsa, Cedar Ridge Senior Living in Broken Arrow, Azalea Gardens Memory Care in Muskogee and Heritage Grove at Tahlequah. These communities augment six Texas senior living properties 12 Oaks is currently managing for Longview Senior Housing.
BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …
EDMOND, MUSTANG and MOORE, Okla. — Green Courte Partners (GCP), a private equity firm based in Chicago, has acquired three active adult cottage communities in the Oklahoma City metro. The properties include Chateaux at Mon Abri in Edmond, Laurel Springs in Mustang and Grace Pointe Living in Moore. The portfolio contains 315 cottages and a 35-unit apartment building. The acquisition increases GCP’s national age-restricted housing portfolio to 17 communities containing approximately 2,600 units. The firm’s wholly owned operating platform, True Connection Communities, operates all 17 assets. “We are increasingly attracted …