BEAVERCREEK, Ohio — Ziegler has advised Confluent Senior Living on the sale of a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Confluent Senior Living is a subsidiary of Confluent Development, which is a full-service real estate investment and development firm. Community First Solutions purchased the community for an undisclosed price and took over operations. Community First is a nonprofit health and human services organization.
TAYLORSVILLE, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Truewood Taylorsville, a 106-unit assisted living facility with 112 licensed beds in Taylorsville, just south of Salt Lake City. Truewood Taylorsville was built in 1975 and renovated in 1995 and 1996. The community totals 68,970 square feet on approximately four acres. The seller is a REIT divesting to focus on core markets within its portfolio. The buyer is a private owner growing its portfolio in Utah. The price was not disclosed The buyer intends to expand the …
GAITHERSBURG, Md. — Kisco Senior Living has opened The Carnegie at Washingtonian Center, a seniors housing community in Gaithersburg, approximately 20 miles northwest of Washington, D.C. Located adjacent to the city’s bustling Washingtonian Center area, the property offers 302 one- and two-bedroom units of independent living, assisted living and memory care. The building rises seven stories on 8.5 acres.
FLORIDA and SOUTH CAROLINA — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner, operator and investor, has agreed to acquire eight senior living communities in northern Florida and South Carolina. Totaling 555 units of assisted living and memory care, Sonida will pay $103 million for the portfolio. The seller was not disclosed. “With this planned acquisition, Sonida will further broaden its high-quality and regionally focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects,” says Brandon Ribar, president and CEO. The eight communities …
MINNEAPOLIS — Berkadia has arranged the refinancing of The Pillars of Prospect Park, a 283-unit seniors housing community in Minneapolis. Austin Sacco and Steve Muth of Berkadia Seniors Housing & Healthcare secured bridge financing through a national bank on behalf of Harrison Street and Oppidan. The amount of the financing was not disclosed. The three-year bank loan features three years of interest-only payments. The property affords convenient access to downtown Minneapolis, the University of Minnesota Medical Center and Midland Hills Country Club. The Pillars of Prospect Park was built in …
FORT WAYNE, Ind. — Priority Life Care (PLC), a Fort Wayne-based third-party operator, has hired Dennis Murphy as the company’s first-ever chief investment officer (CIO). In conjunction with this hire, PLC announces the launch of its new growth fund aimed at expanding its footprint and enhancing its senior living communities. Murphy will lead capital raise initiatives, oversee underwriting, manage investor relations and direct asset management and the execution of all new joint ventures. With over 16 years of expertise in seniors housing, Murphy’s background spans accounting, financial planning and analysis …
NEWPORT BEACH, Calif. — JLL has arranged $52 million in refinancing for Atria Newport Beach, a seniors housing community located at 393 Hospital Road in Newport Beach. The borrower is a partnership between a national REIT and Atria Senior Living. Aaron Rosenzwieg and Dan Baker of JLL Capital Markets arranged the financing. MidCap Financial provided the floating-rate, first-mortgage loan. Built in two phases with the north building fully renovated in 2023 and the south building purpose-built and opened in 2021, the three-story buildings offer a total of 168 studio, one- …
PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has acquired MorningStar at Arcadia in the Biltmore neighborhood of Phoenix. The property consists of 78 assisted living suites across studio, one-bedroom, and two-bedroom floorplans as well as 30 memory care suites. The community was purchased in a special situation transaction via auction facilitated through a federal receivership. The venture is planning a targeted capital expenditure program at the asset to facilitate a series of enhancements aimed at improving resident experience, …
NEW HOPE, Minn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Saint Therese of New Hope, a continuing care retirement community in New Hope, a suburb northwest of Minneapolis. The seller is Saint Therese, a Minnesota-based nonprofit that originally built the community. The campus originally opened to the community in 1967. Starting in 1979, the property underwent extensive senior living expansion and renovation projects over the years. The community features 221 independent and assisted living units and 168 licensed skilled nursing beds, totaling 389 seniors housing and …
BEDFORD, Va. — Impact Senior Living, an affiliated SRI Management company, has taken over operations of Carriage Hill Retirement in Bedford, located between Lynchburg and Roanoke approximately 150 miles west of Richmond. Set on over 15 acres offering views of the Blue Ridge Parkway, Carriage Hill Retirement specializes in assisted living and memory care. The number of units was not disclosed.