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AcquisitionsNew JerseyNewsSkilled Nursing

Tryko Partners Buys 308-Bed Virtua Health Skilled Nursing Portfolio in New Jersey

by Jeff Shaw

BERLIN and MOUNT HOLLY, N.J. — Tryko Partners has acquired two skilled nursing facilities in Berlin and Mount Holly, both located across the Delaware River from Philadelphia. Virtua Health sold the two communities for an undisclosed price. Tryko plans to rebrand the assets as Berlin Rehabilitation & Healthcare Center and Mount Holly Rehabilitation & Healthcare Center, respectively. Tryko facilities are supported by Marquis Health Consulting Services, a nursing home consulting company. The standalone Mount Holly facility features 180 licensed beds. The 128-bed Berlin facility is part of a larger Virtua …

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AcquisitionsMontanaNews

SLIB Negotiates Sale of 159-Unit Big Sky Senior Living in Butte, Montana

by Jeff Shaw

BUTTE, Mont. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Big Sky Senior Living in Butte. The community features 159 units of independent living, assisted living and memory care. The 87,000-square-foot asset was built in 1997 and sits on 11.3 acres of land. The seller is a locally based regional owner-operator. The buyer is a regional owner-operator based in the West that is expanding in the Mountain West. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 335-Unit Portfolio in Metro Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 335-unit skilled nursing and seniors housing portfolio in the Cleveland metro area. The seller was a regional owner-operator seeking to exit the industry. A private equity buyer based in New York acquired the portfolio for an undisclosed price. Further details on the portfolio were not disclosed.

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AcquisitionsFinanceNewsSkilled NursingTexas

VIUM Funds $15M Acquisition Loan for Skilled Nursing Facility in Texas

by Jeff Shaw

TEXAS — VIUM Capital has provided a $15 million bridge loan for the acquisition of a 124-bed skilled nursing facility in Texas. The financing features 100 loan-to-cost ratio and 50 percent recourse that will burn off along with the HUD loan application. The community opened in March 2020. Further details were not disclosed.

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AcquisitionsCompany NewsDevelopmentFloridaNews

Drive Development Partners Merges with Lloyd Jones

by Jeff Shaw

MIAMI — Drive Development Partners, a boutique development advisory and construction management firm, has merged with Lloyd Jones, a real estate investment firm. Both companies are headquartered in Miami. Drive, which specializes in senior living and multifamily developments, matches Lloyd Jones’ current $1 billion portfolio which consists primarily of those two asset types. Drive’s managing partner in Florida, Michael Hass, will assume the role of senior vice president of development, design and construction at Lloyd Jones. The company currently has one ground-up senior living development under construction in Florida and …

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FeaturesNews

NIC’s Mace: Occupancy Edges Upward, but Has a Long Way to Go

by Jeff Shaw

ANNAPOLIS, Md. — While private-pay seniors housing occupancy saw a 20-basis-point increase in the first quarter of the year, the industry is still a long way from full COVID-19 recovery. In fact, occupancy is still 670 basis points below its pre-pandemic levels. That’s according to a blog post from Beth Mace, chief economist at the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets through its NIC MAP Vision product. Private-pay seniors housing comprises independent living, …

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AcquisitionsNewsOregonSkilled Nursing

SLIB Brokers Sale of 38-Unit Cornerstone Care in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cornerstone Care Option, a 38-unit, 56-bed skilled nursing facility in Portland. The community was originally built in 1955 on 7.3 acres, with renovations in 2006. The 98,700-square-foot asset was 98 percent occupied. The seller was a local owner-operator looking to retire from seniors housing. A regional group based in the West acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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AcquisitionsIllinoisNews

Blueprint Negotiates Sale of 67-Unit Bickford of Springfield in Illinois

by Jeff Shaw

SPRINGFIELD, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Bickford of Springfield, a 67-unit independent living and assisted living community in Springfield. A publicly traded REIT sold the asset to Trustwell Living for an undisclosed price. Built in 2005, the historically cash-flowing community experienced operational challenges following industry-wide COVID headwinds. Through a targeted refresh effort and enhanced marketing, the community was offered as a value-add opportunity for incoming investors with a presence in the market.

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Company NewsNews

Goodwin House Rebrands as Goodwin Living

by Jeff Shaw

ALEXANDRIA, Va. — Goodwin House Inc., a nonprofit, faith-based senior living and healthcare services organization based in Alexandria, is rebranding as Goodwin Living. The new brand name better reflects the organization’s mission and a significant increase in its support of older adults through home- and community-based services delivered beyond its senior living campuses, according to the company. “For 55 years, ‘Goodwin House’ has been our name and the brand by which we have grown our mission to support, honor and uplift the lives of older adults and those who care …

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NewsPeople

Claiborne Senior Living Promotes Justin Wray to COO

by Jeff Shaw

HATTIESBURG, Miss. — Claiborne Senior Living, a Hattiesburg-based owner-operator, has promoted Justin Wray to chief operating officer. He most recently served the company as vice president of operations. Wray oversees all aspects of the organization’s operations and works alongside Claiborne’s regional support team and communities to ensure that they are optimizing operations. Wray brings over 16 years of hands-on experience in seniors housing to the organization, both in operational strategy and sales and marketing. Prior to joining the Claiborne team, he worked in senior management positions with providers such as …

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