SAN ANTONIO — Evans Senior Investments (ESI) has brokered the sale of Sodalis at Stone Oak, an assisted living and memory care community in San Antonio. The Class A property was constructed in 2017, featuring 42 assisted living and 21 memory care units. The community was 95 percent occupied and 100 percent private pay at the time of marketing. In January 2022, the operator implemented a 4 percent rate increase for all current residents and successfully implemented another lease renewal increase of 6 percent in January 2023. The buyer was …
GLENDALE, THOUSAND OAKS and FRESNO, California — Agemark Senior Living has taken over management at three seniors housing communities in California: Sage Glendale in Glendale, Sage Mountain in Thousand Oaks and Kingston Bay in Fresno. Ownership of these three communities is a joint venture between Mountain Capital Partners, Dekel Capital and Willis Development. Sophos Equities was the consulting asset manager for the transition. Agemark now having operates 29 communities. Agemark’s brands include Astoria, CountryHouse, Kensington-Evergreen, Holland Farms, Serra Sol, Symphony Pointe and TreVista.
WILMINGTON and NEWARK, Del. — Life Care Services has promoted Janet Belles from director of nursing to clinical specialist. In this role, she will provide clinical support for the healthcare centers at Foulk Living in Wlimington, Shipley Living in Wilmington and Millcroft Living in Newark.
SAN CLEMENTE, Calif. — Harbert South Bay Partners has broken ground on The Seville, an assisted living and memory care community in San Clemente, a coastal city approximately 60 miles southeast of Los Angeles. The property will feature 63 assisted living and 24 memory care units. Completion is scheduled for summer 2024. Project partners include Momentum Senior Living as operator, Banvard & Soderbergh as architect, Rodrigo Vargas Design as interior designer and W.E. O’Neil as general contractor.
ELMHURST, Ill. — Focus Healthcare Partners LLC, a Chicago-based real estate investment and asset management firm, has acquired Lexington Square Senior Living in Elmhurst, approximately 15 miles west of Chicago. BMO provided financing for the sale. The price and seller were not disclosed. Focus will rebrand the community as The Roosevelt at Salt Creek and convert it from an entrance-fee buy-in model to a rental community offering independent living and assisted living. Life Care Services will manage the community and help facilitate the transformation. Focus will implement a multi-year renovation …
STOW, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Landing of Stow, a seniors housing community in Stow, approximately 27 miles southeast of Cleveland. The property was built in 2008 and offers 61 assisted living and 20 memory care units. The seller of the community chose to divest this asset to focus attention on communities that more closely align with its current footprint. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint in Ohio. The price was not disclosed. Bradley …
BENNETTSVILLE, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing facility in Bennettsville, a small city in the northeast portion of South Carolina. The seller was a publicly traded REIT. The facility was constructed in several phases beginning in 1958 and featured predominantly semi-private rooms. The buyer was an East Coast based owner-operator with a significant existing presence in South Carolina. The price and other details were not disclosed.
HAYWARD, Calif. — Sherman & Roylance has arranged the bankruptcy sale of Parkview Healthcare Center, a 121-bed skilled nursing facility in the Bay Area city of Hayward. The 56,367-square-foot community was in bankruptcy, and Shep Roylance and John Sherman led a 30-day closing process. The new operator will be Spyglass Healthcare.
DUNEDIN, Fla. — Acts Retirement-Life Communities Inc. and Mease Life, a nonprofit continuing care retirement community (CCRC) in the Tampa suburb of Dunedin, have agreed to affiliate. Under the agreement, Mease Life will become an Acts affiliate member and part of a network of CCRCs that Acts operates. Mease Life is home to approximately 350 residents and was founded in the early 1960s. The nine-story high rise community includes a mix of independent living, assisted living and skilled nursing residences, along with other specialty care services. The affiliation agreement is …
MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has entered into a $200 million term loan. The new financing matures on June 16, 2025, unless extended by the company pursuant to one or both of two six-month extension options. Proceeds from the loan were used to pay off the company’s term loan with a maturity in September 2023 and had a $200 million balance at the payoff date. The loan bears interest at a variable rate consistent with the 2023 Term Loan which is SOFR-based with a margin determined …