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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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Assisted LivingDevelopmentNevadaNews

Joint Venture Breaks Ground on Valage Carson Valley in Minden, Nevada

by Jeff Shaw

MINDEN, Nev. — A joint venture between Greystone Housing Impact Investors LP (NYSE: GHI) and ISL Ventures has broken ground on Valage Carson Valley, a seniors housing community in Minden, a small municipality of approximately 3,000 people just east of Lake Tahoe. The property will feature 56 assisted living units and 46 memory care units. The project is scheduled for completion in fall 2024. PI Architects designed the community, which Metcalf Builders is constructing, managed by Leading Light Development and Construction Consulting. Integral Senior Living will be the operator upon …

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Affordable HousingDevelopmentMarylandNews

Homes for America Completes 163-Unit Affordable Community in Oxon Hill, Maryland

by Jeff Shaw

OXON HILL, Md. — Homes for America, in collaboration with the Housing Authority of Prince George’s County and Foundation Development Group, has completed Homes at Oxon Hill, a 163-unit affordable seniors housing community in Oxon Hill, just south of Washington, D.C. The community is age restricted and residents must earn at or below 60 percent of the area median income. Homes at Oxon Hill is a five-story elevator building that includes a mix of one- and two-bedroom apartments. Financing for Homes at Oxon Hill comes from the Maryland Department of …

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AcquisitionsAssisted LivingMarylandNews

Blueprint Negotiates Sale of 65-Unit Woodlands Assisted Living Community in Middle River, Maryland

by Jeff Shaw

MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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NewsPeople

Epoch Senior Living Promotes Michael Gordon to Chief Investment Officer

by Jeff Shaw

WALTHAM, Mass. — EPOCH Senior Living, a Waltham-based operator, has promoted Michael Gordon to chief investment officer. Gordon has been a member of EPOCH Senior Living’s leadership team for nearly 25 years. Most recently, he was senior vice president of planning and development. Over the course of his career with the company, he has overseen and been involved with the long-range planning, budgeting and development of 16 of EPOCH Senior Living’s properties. As CIO, Gordon will be responsible for focusing on driving new initiatives, improving market research, procurement and employee …

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ArkansasNewsOperationsSkilled Nursing

Plains Commercial Arranges New Tenant for Davis West Nursing Home in Pine Bluff, Arkansas

by Jeff Shaw

PINE BLUFF, Ark. — Plains Commercial has arranged the lease of Davis West Nursing Home in Pine Bluff, approximately 45 miles south of Little Rock. The exiting operator is a nonprofit that made the decision to exit the skilled nursing operating business. After the bidding process, the landlord chose a Chicago-based operator. The facility was suffering from a depressed census that hadn’t fully recovered from COVID. Licensed for 177 beds, the facility offered the new operator significant upside through further lease-up and operational changes. The Chicago-based operator is taking on …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Completes 87-Unit Arbor Terrace Marlton in New Jersey

by Jeff Shaw

MARLTON, N.J. — Capitol Seniors Housing has completed Arbor Terrace Marlton, an 87-unit assisted living and memory care community in Marlton, approximately 15 miles east of Philadelphia. Project partners include operator The Arbor Co., architecture and design firm Meyer, and builder IMC Construction. The three-story, 76,500-square-foot community features 60 assisted living apartments, 27 memory care units and 15,000 square feet of amenity space. Construction began in April 2021.

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