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AcquisitionsFloridaNews

Grandbridge Arranges Sale of 420-Unit Portfolio in Florida

by Jeff Shaw

WINTER HAVEN and LAKELAND, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of two communities in Florida. A national REIT sold the assets to a Florida-based owner-operator growing in the region. The price was not disclosed. The properties include Spring Haven, a 297-unit independent living, assisted living and memory care community in the Orlando suburb of Winter Haven, and Lake Morton Plaza, a 123-unit independent living and assisted living community in the Tampa suburb of Lakeland. Dave Kliewer and Jay Jordan led the …

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ColoradoFinanceNews

Ziegler, M&T Partner on $105.6M Freddie Mac Refinancing for The Ridge Pinehurst in Lakewood, Colorado

by Jeff Shaw

LAKEWOOD, Colo. — Ziegler, in partnership with M&T Realty Capital Corp., advised on a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living. The loan is for The Ridge Pinehurst, a luxury independent living, assisted living and memory care community in Lakewood, a suburb of Denver. Ridge began opening the 371-unit community in phases starting in September 2020. The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinancing provided The Ridge with a long-term, fixed-rate loan to replace …

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AcquisitionsNewsSkilled Nursing

CareTrust Acquires Four West Coast Communities for $71.5M

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), along with a regional investor in healthcare real estate, has acquired four skilled nursing facilities on the West Coast. The four-property acquisition includes 450 skilled nursing beds and 20 assisted living units. Links Healthcare Group, a new operator relationship for CareTrust, will operate the facilities pursuant to a 15-year master lease with two five-year extension options. Links is an experienced operator founded by Toby Tilford and Curt Rodriguez and currently operates 16 skilled nursing and seniors housing communities. CareTrust’s initial investment …

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AcquisitionsAssisted LivingNewsOregon

SLIB Brokers Sale of 72-Unit Community in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 72-unit assisted living and memory care community in Portland. The facility was built in 1961 with renovations in 2021. The property totals 52,217 square feet on approximately 4.22 acres of land. The seller was a local owner-operator seeking to retire from the industry. The buyer was a private equity company based in Salt Lake City, with senior living communities throughout the country. This is the buyer’s second community in the Portland market. The price was not …

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Company NewsNewsPeople

EPOCH Senior Living Names Laurie Gerber as Chairperson

by Jeff Shaw

WALTHAM, Mass. — EPOCH Senior Living has named Laurie Gerber, wife of the late EPOCH founder and CEO Larry Gerber, has been named the company’s chairperson. Laurie will work alongside the Waltham-based EPOCH management team. Larry founded the company in 1997. Under his leadership, the company grew significantly to include five Waterstone Senior Living communities and 11 Bridges by EPOCH memory care assisted living communities located throughout the Northeast. Larry died on March 25 at the age of 66. Laurie is an executive with over two decades of experience as …

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AcquisitionsMemory CareMichiganNewsOhio

SLIB Negotiates Sale of 100-Unit Midwestern Memory Care Portfolio

by Jeff Shaw

LANSING, Mich., and BEAVERCREEK, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of two memory care communities totaling 100 units and 132 beds in the Midwest. Located in Lansing and Beavercreek, both communities were built in 2018 and each total approximately 34,500 square feet on 4.9 acres of land. The seller is a national owner and developer that is exiting the industry. The buyer was a REIT that will lease the communities to Ridgeline Management Co. The price was not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito …

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AcquisitionsNewsOperationsWashington

Veda Living to Manage 10 Properties in Washington State

by Jeff Shaw

WASHINGTON — Veda Living, the management company spin-off of ETROS Management Firm, has taken on a 10-property management agreement in Washington state. ETROS Management Firm, founded in 2016, specializes in turnaround management solutions for underperforming senior living assets. The properties are all branded as Greenlake Senior Living communities, which target middle-market seniors in the Pacific Northwest. With this most recent management deal, Veda Living now operates a portfolio of 15 properties across the nation.

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AcquisitionsNewsSkilled NursingTexas

CareTrust Acquires 125-Bed Skilled Nursing Facility in Metro Houston

by Jeff Shaw

HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired a 125-bed skilled nursing facility located in the greater Houston metropolitan area. An affiliate of Evergreen Health Group will operate the property, opening a new tenant relationship for CareTrust. The specific name and location of the property were not disclosed. Evergreen Health Group is a Texas-based operator of skilled nursing facilities primarily owned by Selina Chao, an industry veteran. Evergreen has entered into a 15-year, triple-net lease with CareTrust that includes two five-year extension options and annual CPI-based rent escalators. CareTrust’s …

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AcquisitionsNews

CBRE Brokers Sale of Midwestern Portfolio for Bridge Investment Group

by Jeff Shaw

AUSTIN, Texas — CBRE’s National Senior Housing Investment Properties team, based in Austin, has arranged the sale of a portfolio of communities in the Midwest on behalf of Bridge Investment Group. The communities are midrise buildings offering independent living, assisted living and memory care units and services. All were built in 2007 or later. CBRE’s National Senior Housing team members John Sweeny, Aron Will, Scott Bray, and Garrett Sacco represented the seller. The Properties are located in highly desirable areas, close to hospitals and primary transportation routes. Assets in the …

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NewsOperationsPeople

Solstice Senior Living Promotes Nathan Mills to Vice President of Operations

by Jeff Shaw

CARLSBAD, Calif. — Solstice Senior Living, a Carlsbad-based joint venture of Integral Senior Living and NorthStar Healthcare Income, has named Nathan Mills as vice president of operations. Mills, a veteran in the senior living industry, has served for the past five years as a regional vice president of operations and will now support the entire Solstice portfolio of 32 communities. Mills has a diverse background in operations, marketing and sales and has served on numerous leadership committees throughout his career. In his previous role, Mills led operational strategy and supported …

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