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 …
Oklahoma
MOORE, MUSTANG and EDMOND, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three active adult communities in the Oklahoma City suburbs of Moore, Mustand and Edmond. The seller was Walters Construction Co., which developed the properties between 2010 and 2021. The portfolio features 350 units, including a recent 35-unit expansion at the Moore community. With the exception of that expansion, the communities were fully occupied at the time of sale. The buyer and price were not disclosed.
1031 Crowdfunding Acquires Memory Care Portfolio as Opportunity Fund Reaches Full Subscription
IRVINE, Calif. — 1031 Crowdfunding, an Irvine-based real estate investing platform, has fully subscribed its $16.9 million 1031CF Portfolio 1 DST. This is the company’s sixth investment in senior living care facilities. The fund was used to acquire two memory care communities. Iris Senior Living is the operator of both properties, which are located in the Dallas-Fort Worth and Oklahoma City metro areas. The facilities include a combined 88 beds and 76 units, and are currently 91 percent occupied. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to …
TULSA, Okla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Arbors, a 20-unit assisted living community in Tulsa. The 15,688-square-foot property was built in 1997 on approximately two acres of land. The seller is a regional owner based in Tulsa. The buyer is a Oklahoma-based private owner, looking to expand its portfolio, and plans to convert the facility to skilled nursing with a hospice specialty. Jason Punzel and Nick Cacciabando of SLIB handled the transaction. The price was not disclosed.
OKLAHOMA and TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A memory care communities. The properties were built in the Oklahoma City and Dallas metro areas, delivering in 2016 and 2018. The portfolio totals 76 units. Both assets leased-up rapidly and demonstrated consistent upward trending operational performance throughout the COVID-19 pandemic, with occupancies exceeding 95 percent while generating $5.9 million in total revenue and $1.9 million in EBITDAR representing a 32.5 percent operating margin. The developer/operator sold the properties to a new partner in …
QUAIL CREEK, Okla. — Evans Senior Investments (ESI) has arranged the sale of Quail Creek, a 103-unit assisted living and memory care community in the Oklahoma City suburb of Quail Creek. A private equity investor sold the asset to a regional operator for $6.5 million, or $63,000 per unit. Built in 1999, the community is licensed for 116 beds and the community’s resident base is 100% private pay. At the time of marketing, the community was averaging 41 percent occupancy on total revenue of $1.8 million. Due to the low …
LAKE WORTH, Fla., and TULSA, Okla. — Ziegler has arranged a total of $37.8 million in bridge financing for Columbia Pacific Advisors (CPA), a Seattle-based investment firm. The two loans will refinance existing debt on two of the borrower’s seniors housing properties, The Landing at Lake Worth in Lake Worth and The Linden at Stonehaven Square in Tulsa. Each community offers assisted living and memory care services and consists of 134 total units. CPA developed and opened the Lake Worth Community in late 2018 and opened the Tulsa community in …
ALTUS, Okla. — Plains Commercial has arranged the sale of English Village Manor, a skilled nursing facility in Altus, approximately 150 miles southwest of Oklahoma City. Originally built in 1973, the facility is currently licensed for 128 beds in approximately 36,900 square feet of space. The seller is a regional owner-operator that decided to cull its portfolio and focus on facilities closer to the corporate office. The buyer is one of the largest skilled nursing operators in Oklahoma, with several other facilities in the area. Daniel Morris with Plains Commercial …
SilverPoint Senior Living Takes Over Operations at Fountainbrook Assisted Living in Midwest City, Oklahoma
MIDWEST CITY, Okla. — SilverPoint Senior Living has assumed operations of Fountainbrook Assisted Living, a 74-unit community located in the Oklahoma City suburb of Midwest City. “As SilverPoint has continued to expand throughout Texas, it made sense to continue our growth to Oklahoma,” says Shawn Corzine, CEO at SilverPoint. Fountainbrook is located just northeast of Tinker Air Force Base on the north side of Highway 40, off of 15th Street, and is minutes away from SSM Health St. Anthony Hospital.
TULSA, Okla. — Berkadia Seniors Housing & Healthcare has arranged $5.6 million in financing for a 54-unit, 111-bed skilled nursing facility located in Muskogee County, located southeast of Tulsa. Jay Healy of Berkadia Seniors Housing & Healthcare secured the loan on behalf of the undisclosed borrower. The loan was refinanced through HUD’s 232/223(f) program. The $50,100-per-bed, 35-year loan represented 50 percent of the property’s value. The project was originally constructed in 1974 and features 58 ventilator beds. Historical occupancy has averaged 75 percent. “The 232/223(f) Program presented the sponsor a …