HAILEY, Idaho — Seattle-based BearRock Investments LLC has purchased Silvercreek Living, an assisted living community in Hailey, for $6.4 million. The buyer plans to convert the property into workforce housing. Hailey is a small city of fewer than 10,000 residents south of the Sun Valley-Ketchum metro area in Central Idaho. Located on McKercher Boulevard, the 24,600-square-foot asset consists of two 12,000-square-foot buildings, each offering 16 studio apartments and a large commercial kitchen. Paul Kenny of Paul Kenny & Matt Bogue Commercial Real Estate represented the buyer and undisclosed seller in …
BRADENTON and VENICE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Bradenton and Venice, both located on the Gulf Coast south of Tampa. The properties feature a combined 211 units of assisted living and memory care. The Bradenton asset was built in 1989, while Venice asset was constructed in 1998. The Bradenton property totals 74,786 square feet on approximately 7.62 acres of land while the Venice property totals 74,445 square feet on approximately 4.06 acres of land. The buyer is Florida-based …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has participated in the origination of over $52 million in mezzanine loans. The financings are secured by three portfolios of 26 properties comprising 3,050 skilled nursing beds and 186 assisted living units in Virginia, Missouri, and California. CareTrust’s participation in the Virginia and Missouri mezzanine financings was done alongside a co-lender: the Northwind Group. Northwind’s healthcare portfolio includes investments in nearly 200 skilled nursing facilities and senior living communities. CareTrust provided $35 million in mezzanine loan proceeds in connection with the …
BRIGHTON, Mass. — 2Life Communities, a Brighton-based owner-operator, has promoted Zoe Weinrobe to chief of real estate. In her previous role as director of real estate, Weinrobe led the creation of nearly 400 affordable apartments at 2Life while also overseeing the renovations of 2Life’s Golda Meir and Coleman Houses in nearby Newton. As chief of real estate, Weinrobe will lead the organization’s real estate development. 2Life is currently developing multiple large-scale projects including its middle-income housing model Opus Newton, a redevelopment of the J.J. Carroll Apartments in Brighton with the …
BOSTON — HumanGood, the nation’s seventh-largest nonprofit, has completed its affiliation with Pleasant Spring Communities, which oversees Springhouse and Mount Pleasant Home and has provided senior living in Boston for more than a century. The plan was announced in August, but required regulatory and lender approval before it could be consummated. “Now approved, the affiliation between HumanGood and Pleasant Spring Communities will enable Springhouse and Mount Pleasant Home to enhance their operational efficiencies, streamline processes, and introduce innovative programs that further enrich the lives of residents while also providing more opportunities …
MASON CITY, Iowa — Evans Senior Investments (ESI) has arranged the sale of Country Meadow Place, a 56-unit assisted living and memory care community in Mason City, approximately midway between Des Moines and Minneapolis. An independent owner seeking to exit the industry sold the property to its existing operator for $13 million, or $232,142 per unit. The community was originally built in 1985 as a 36-unit memory care community. In 2013, Country Meadow was acquired and five years later underwent a 20-unit assisted living expansion. At the time of marketing, …
CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver. The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity. “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Oaks of West Kittering, a skilled nursing facility in Dayton. The community was built in 1973 and features 118 licensed beds. A regional owner-operator sold the property as part of its shift to other asset classes. An owner-operator with a presence in Ohio purchased the facility for an undisclosed price. Connor Doherty and Ryan Kelly led the Blueprint team.
WEST DES MOINES, Iowa — Highmark Senior Living, a Hubbell Realty Co. affiliate, has taken over management of a portfolio of Edencrest senior living communities throughout Iowa. Edencrest communities offer studio, one-bedroom and two-bedroom units. Highmark Senior Living manages six communities with more than 290 residents and roughly 235 employees throughout Iowa. Edencrest communities include: Edencrest at Beaverdale, Edencrest at Green Meadows, Edencrest at The Legacy, Edencrest at Riverwoods, Edencrest at Siena Hills, Edencrest at Timberline, and Edencrest at Tuscany.
MONUMENT, Colo. — WellAge has named Lauren Hart as executive director of Jackson Creek Senior Living in Monument. Hart’s career journey includes roles as a business office manager in memory care and assisted living, advancing to human resources director at a skilled nursing facility, and subsequently serving as associate executive director at a Brookdale Senior Living community. Hart received an undergraduate degree in human resource management and an MBA in business administration from the University of Phoenix, graduating in 2022.