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AcquisitionsAlabamaCCRCNews

Blueprint Brokers Sale of 279-Unit CCRC in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Knollwood Healthcare & Gordon Oaks Senior Living, a continuing care retirement community (CCRC) in Mobile. Originally constructed in 1985 and expanded in 1987, 1993 and 1996, the property features 279 units of skilled nursing, independent living, assisted living and memory care. Blueprint represented the court-appointed receiver, Healthcare Management Partners, in the fall of 2021 to run a competitive marketing process to select a stalking horse bidder. That bidder, MED Healthcare, eventually became the buyer. The price was …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Lument Arranges Sale of Saunders House Skilled Nursing Facility in Wynnewood, Pennsylvania

by Jeff Shaw

WYNNEWOOD, Pa. — Lument Securities has served as exclusive financial advisor to the board of directors of Saunders House, a nonprofit skilled nursing facility, on its sale to a regional private operator. The property is located in the first-ring Philadelphia suburb of Wynnewood and features 180 beds. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. Saunders House dates back to 1864 when it opened as the Old Man’s Home of Philadelphia. The current facility, which is located adjacent to Lankenau Medical Center, opened in 1973 and underwent …

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Affordable HousingNewsPeople

Standard Communities Appoints Feras Qumseya as Chief Development Officer

by Jeff Shaw

WASHINGTON, D.C. — Standard Communities, a developer of affordable housing for seniors and families, has named Feras Qumseya as chief development officer. This is a new position created to lead the new-construction division, a national platform focused on leveraging 4 percent Low Income Housing Tax Credit (LIHTC) financing to build new dedicated affordable housing units in major metropolitan areas. He will be based out of Washington, D.C. Qumseya brings 20 years of experience working on all aspects of affordable housing, economic development, public-private partnerships, large mixed-use projects and transit-oriented developments. …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Negotiates Sale of 333-Bed Skilled Nursing Portfolio in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …

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CaliforniaCompany NewsNewsOperationsWashington

Sabra Transitions Operations of 24 West Coast Skilled Nursing Facilities to Ensign, Avamere

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an Irvine-based investor, plans to transition a 24-property portfolio previously leased to North American Health Care Inc. to two of Sabra’s existing tenants: The Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. Ensign will add 20 properties located in California to two master leases with Ensign operating companies with initial terms of 18 and 20 years, each with an accompanying corporate guarantee from Ensign. The initial annual rent attributable to the 20 properties will be $29.4 million, with …

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FinanceNewsPeopleTennessee

Lument Hires Justin Elshire to Lead New Nashville Office

by Jeff Shaw

NASHVILLE, Tenn. — Lument has hired Justin Elshire as a managing director to lead its new office in Nashville. Elshire is responsible for originating and structuring commercial mortgage loans for seniors housing and healthcare clients across the country, focusing primarily on Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and U.S. Department of Agriculture loan programs, as well Lument’s proprietary lending products. He will report to Aaron Becker, Lument’s head of seniors housing and healthcare production. Elshire has over 20 years of financial and commercial real estate experience, most recently …

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AcquisitionsCompany NewsNewsSkilled Nursing

Welltower Moves 124 Skilled Nursing Facilities from ProMedica to Integra Joint Venture

by Jeff Shaw

TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has announced plans to transition 147 skilled nursing facilities from its joint venture with ProMedica Senior Care to a new partnership with Integra Health. In addition to transferring the operations, ProMedica will surrender its 15 percent interest in the assets and Integra will acquire that same stake. The financial terms of the move were not disclosed. ProMedica will also “provide significant working capital support for the new operators to ensure a smooth transition of …

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FinanceNews

Berkadia Arranges $177M in Seniors Housing Finance Transactions

by Jeff Shaw

NEW YORK CITY — Berkadia Seniors Housing & Healthcare, a New York-based financial services firm, has arranged $177 million in financing across seven deals completed from July 15 through the end of October. Bianca Andujo, Ed Williams, Jay Healy, Rafael Nobo and Chris Cain of Berkadia Seniors Housing & Healthcare completed the financings. In mid-July, Williams arranged a $13.7 million loan for a 100-unit assisted living and memory care property in Arizona through HUD’s 232/223(f) refinance program. The HUD loan was limited to 70 percent of value to qualify for …

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AcquisitionsAssisted LivingNewsWisconsin

SLIB Negotiates Sale of Wickshire Madison in Wisconsin

by Jeff Shaw

MADISON, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wickshire Madison, an assisted living community in Madison. The property was built in 1992 on a 2.5-acre plot. A Northeast-based private REIT sold the property to a private regional company looking to expand in the Midwest. The price was not disclosed. Daniel Geraghty and Ryan Saul of SLIB handled the transaction. “The asset is a well-run community, being 100 percent occupied, which will make for an excellent addition to the buyer’s growing Wisconsin portfolio,” says Geraghty.

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AcquisitionsArizonaNewsOperations

12 Oaks Senior Living Acquires Operations of Copper Canyon in Tucson, Arizona

by Jeff Shaw

TUCSON, Ariz. — 12 Oaks Senior Living has acquired the operations of Copper Canyon Memory Care & Transitional Assisted Living in Tucson. 12 Oaks Senior Living intends to expand and enhance the service offerings at this community while restoring stability and planning for long-term growth. Copper Canyon augments four other senior living properties that 12 Oaks currently manages for the same ownership group. The previous operator was not disclosed.

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