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AcquisitionsMemory CareNewsTexas

Plains Commercial Arranges Sale of Richmond Meadows Memory Care in Texarkana, Texas

by Jeff Shaw

TEXARKANA, Texas — Plains Commercial has arranged the sale of Richmond Meadows Memory Care in Texarkana. Originally built in 2010, Richmond Meadows is licensed for 40 beds covering across a 24,600-square-foot community. With a Class A physical plant, the facility offers strong upside through management changes and further lease-up. After an extensive marketing campaign, the seller chose a regional assisted living and memory care operator as the buyer. With the sale of the facility, the seller exited the memory care business. Daniel Morris with Plains Commercial handled the transaction. The …

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AcquisitionsArkansasNewsSkilled Nursing

SLIB Brokers Sale of 116-Bed Cla-Cliff Nursing Home in Brinkley, Arkansas

by Jeff Shaw

BRINKLEY, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cla-Cliff Nursing and Rehabilitation Center, a 116-bed skilled nursing facility in Brinkley, approximately midway between Little Rock and Memphis, Tennessee. The property has been owned and operated within the same family for almost 60 years. The seller was a local owner-operator looking to retire and exit the skilled nursing industry. The buyer is a regional owner looking to add to its existing portfolio. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for …

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AcquisitionsMemory CareNewsTexas

Cushman & Wakefield Negotiates Sale of Four Memory Care Communities in Metro Houston

by Jeff Shaw

HOUSTON — Cushman & Wakefield’s National Senior Housing Capital Markets team has arranged the sale of a 152-unit portfolio containing four standalone memory care communities in the Houston metro area. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Chris Remeika represented the seller, Healthcare Trust Inc., in the transaction. McFarlin Group, a Dallas-based private equity firm, acquired the portfolio in an all-cash deal. The price was not disclosed. The portfolio comprises Addington Place of The Woodlands, Addington Place of Cy-Fair, Addington Place of Meyerland and Addington …

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Assisted LivingDevelopmentFloridaNews

Longview Senior Housing Completes Renovation of The Cove at Marsh Landing in Jacksonville Beach

by Jeff Shaw

JACKSONVILLE BEACH, Fla. — Owner Longview Senior Housing and operator SRI Management have completed renovations to The Cove at Marsh Landing, a 100-unit assisted living and memory care community in Jacksonville Beach. Originally opened in 1995, the full-scale renovation refreshed all public spaces, activity areas, dining room, offices and memory care section. West End Interiors led the interior design process for the renovation.

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FinanceIllinoisNewsWisconsin

Ziegler Arranges $24M Financing for Wisconsin Illinois Senior Housing

by Jeff Shaw

CHICAGO — Ziegler, a Chicago-based investment bank, has arranged $24 million in financing for Wisconsin Illinois Senior Housing (WISH), a nonprofit owner-operator. The financing comprises $22.5 million of tax-exempt bonds directly purchased by BMO Harris Bank, along with a $1.5 million taxable term loan. Proceeds of the financing will be used to refinance a series of WISH’s outstanding bonds, pay an associated prepayment penalty and pay costs of issuance. The bonds were issued through the Wisconsin Health and Educational Facilities Authority. WISH, an Illinois corporation organized in 1994, currently owns …

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AcquisitionsNewsSkilled NursingTexas

ESI Arranges Sale of Pasadena Care Center Nursing Home in Texas for $6.5M

by Jeff Shaw

PASADENA, Texas — Evans Senior Investments (ESI) has arranged the sale of Pasadena Care Center, a 116-bed skilled nursing community located in Pasadena. An independent owner sold the asset to a national owner-operator looking to expand in Texas for $6.5 million, or $56,000 per bed. The operator is Sava Senior Care. Built in 1975, Pasadena Care Center is located 15 miles southeast of Houston. At the time of merketing, the community was 80 percent occupied and was producing approximately $750,000 in net operating income annually. While under contract, occupancy and …

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DevelopmentNew JerseyNewsSkilled Nursing

Marquis Health Completes $3M Renovation at Crest Pointe in Point Pleasant, New Jersey

by Jeff Shaw

POINT PLEASANT, N.J. — Marquis Health Consulting Services has completed a $3 million renovation project at Crest Pointe Rehabilitation & Healthcare Center. The centerpiece of the renovation was the addition of a 3,000-square-foot rehab therapy gym and the incorporation of a activities of daily living (ADL) suite. Other renovation highlights also include a lobby/reception area redesign and expansion; reconfigured and updated dining area and lounges; and updates to resident rooms. During the renovation process, Crest Pointe and Marquis also enhanced the facility’s specialized programming in partnership with regional healthcare providers. Physician-led …

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AcquisitionsAssisted LivingNewsOklahomaOperations

12 Oaks Adds Four Communities in Oklahoma to Operations Portfolio

by Jeff Shaw

TULSA, BROKEN ARROW, MUSKOGEE and TAHLEQUAH, Okla. — Longview Senior Housing has expanded its relationship with 12 Oaks Senior Living to manage four additional assisted living and memory care communities in Oklahoma. 12 Oaks has assumed management of The Grove at Midtown in Tulsa, Cedar Ridge Senior Living in Broken Arrow, Azalea Gardens Memory Care in Muskogee and Heritage Grove at Tahlequah. These communities augment six Texas senior living properties 12 Oaks is currently managing for Longview Senior Housing.

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MarylandNewsOperationsPeople

Lutheran Social Ministries of Maryland Names Scott Edens as Executive Director of Community in Westminster

by Jeff Shaw

WESTMINSTER, Md. — Lutheran Social Ministries of Maryland has named Scott Edens as executive director of Carroll Lutheran Village (CLV) in Westminster, 30 miles northwest of Baltimore. Edens provides leadership oversight of day-to-day operations, including following federal, state and local laws, regulations and standards governing long-term care facilities. With over 30 years of senior living experience, Edens has planned and coordinated renovation projects for two health care campuses, led three regions of 28 skilled nursing facilities, planned and directed an improvement process to increase admissions at four health care centers, …

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AcquisitionsNewsSkilled NursingTexas

LTC Acquires Four-Property Rehab Portfolio in Texas for $52M

by Jeff Shaw

FORT WORTH, ROUND ROCK, SAN ANTONIO and WEBSTER, Texas — LTC Properties Inc. (NYSE:LTC), a real estate investment trust that primarily invests in seniors housing and healthcare properties, has acquired four LuxeRehab centers for approximately $52 million. The properties, which are located in Texas and have a combined total of 339 beds primarily in private rooms, will be operated by Ignite Medical Resorts, a current LTC operating partner. Although the specific properties were not named, the only four Ignite locations in Texas are in Fort Worth, Round Rock, San Antonio …

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