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AcquisitionsNewsPennsylvaniaSkilled Nursing

Blueprint Negotiates Sale of 1,000-Bed Skilled Nursing Portfolio in Pennsylvania

by Jeff Shaw

PENNSYLVANIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing portfolio totaling more than 1,000 beds in Pennsylvania. A public REIT and its operating partner sold the two campus locations, which alsofeature independent living, personal care and memory care beds. Although specific names and locations were not disclosed, the properties are concentrated in northeast and central Pennsylvania. The portfolio was marketd as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid reimbursement rate enhancements recently passed …

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AcquisitionsAssisted LivingNewsTexas

SLIB Brokers Sale of 62-Unit Community in Carrollton, Texas

by Jeff Shaw

CARROLLTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 62-unit assisted living and memory care community in Carrollton, a suburb of Dallas. The community totals approximately 40,000 square feet on a 3.6-acres plot. The seller is a private equity group with a regional seniors housing portfolio. The Dallas-based buyer is a private investment group with a national seniors housing portfolio partnering with a local operator. The price was not disclosed. Matthew Alley and Jeff Binder of SLIB handled the transaction. “SLIB was able to help …

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CaliforniaCCRCFinanceNews

Ziegler Arranges $61.3M in Bond Financing for Aldersly in San Rafael, California

by Jeff Shaw

SAN RAFAEL, Calif. — Ziegler has arranged $61.3 million in bond financing for Aldersly Garden Retirement Community, a continuing care retirement community in San Rafael, a northern suburb of San Francisco. The community was originally founded and incorporated in 1921 by Danish organizations as a retirement home serving the Danish-American communities in California and Nevada. The property is situated on an approximately 3.5-acre campus. Life Care Services LLC has provided management and marketing services since 2004. The borrower will use the proceeds of the bonds, together with an equity contribution, …

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AcquisitionsNew YorkNewsSkilled Nursing

ESI Brokers Sale of 60-Bed Skilled Nursing Facility in New Rochelle, New York

by Jeff Shaw

NEW ROCHELLE, N.Y. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community in New Rochelle, a suburb of New York City on Long Island Sound. The facility was originally constructed in 1965 and is licensed for 60 beds. The seller was an independent owner-operator that operated the facility for 30 years, but sought to exit the long-term care industry. A New York-based owner acquired the property for an undisclosed price. Approval of the new operator is pending. “Evans Senior Investments was successfully able to navigate …

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NewsPeople

Commonwealth Senior Living Announces New Regional Leaders, VP of Operations

by Jeff Shaw

CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based operator, has named Reuben Canty, Mark Kane and Rick Barley as regional vice presidents with the company. These new regional leaders bolster Commonwealth’s operational and management teams as it continues to grow its portfolio and seeks to provide the best possible support to its communities within the eastern United States. Additionally, the company promoted Kim Hurt to vice president of operations. Canty joined Commonwealth Senior Living in 2015 as a resident care director. He was promoted to executive director where he served …

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CCRCCompany NewsIllinoisNews

Friendship Village CCRC Files for Chapter 11 Bankruptcy, Seeks Sale

by Jeff Shaw

SCHAUMBURG, Ill. — Friendship Village of Schaumburg, an independent continuing care retirement community (CCRC) in the Chicago suburb of Schaumburg, has filed for Chapter 11 protection through the U.S. Bankruptcy Court for the Northern District of Illinois and is seeking a sale. The community cites continued hardships from the COVID-19 pandemic. Debt on the community is largely through bond financing. The community will continue to operate as normal during the bankruptcy process. The sale process will be subject to the bankruptcy court’s oversight. Due to the large size of the …

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AcquisitionsAlabamaAssisted LivingNews

Proveer Senior Living Acquires Vitality Living Regency in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Proveer has acquired Vitality Living Regency, a seniors housing community in Mobile. The community features 70 assisted living units and 20 memory care units. The acquisition marks the eighth overall for Proveer, its fifth in the state of Alabama and second in Mobile. Blueprint Healthcare Real Estate Advisors brokered the sale. Proveer’s business model is a value-add strategy that includes purchasing communities at a relatively low basis, renovating the buildings and rebranding them under the Proveer flag. The community is now known as Proveer at Port City. …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Negotiates Sale of 105-Bed The Fairhaven in Upper Sandusky, Ohio

by Jeff Shaw

UPPER SANDUSKY, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Fairhaven in Upper Sandusky, approximately midway between Columbus and Toledo. United Church Homes sold the community, which was originally built in 1920 and features 99 skilled nursing beds and six independent living units. The undisclosed buyer specialized in buying and maintaining faith-based communities. Marketed as a value-add opportunity, the new owner plans to built a state-of-the-art replacement facility on the property.

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AcquisitionsKentuckyNewsSkilled Nursing

Senwell Brokers Sale of 60-Bed Skilled Nursing Facility in Pendleton County, Kentucky

by Jeff Shaw

PENDLETON COUNTY, Ky. — Senwell Senior Investment Advisors has arranged the sale of a 60-bed skilled nursing facility in Pendleton County. The facility was family owned since the 1960s. Prior to the COVID-19 pandemic, the building was fully occupied with a waitlist. While the pandemic presented challenges, the facility was slowly increasing its occupancy month over month. The undisclosed buyer owns facilities in the same geographical footprint. Ben Bohland facilitated the transaction.

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Assisted LivingFinanceNewsOklahoma

Berkadia Arranges $16.7M Financing for Prairie House in Broken Arrow, Oklahoma

by Jeff Shaw

BROKEN ARROW, Okla. — Berkadia has arranged $16.7 million in financing for Prairie House, a 105-unit assisted living and memory care community in Broken Arrow, a suburb of Tulsa. Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured the acquisition financing through Fannie Mae on behalf of the buyer, Wichita-based Legend Senior Living. The 10-year loan features a 5.68 percent interest rate, 30-year amortization schedule and 65 percent loan-to-value ratio. Prairie House was built in 2016 and features 73 assisted living units and 32 memory care units.

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