INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 186-bed skilled nursing community in Indiana for $25 million, or $134,000 per bed. An independent owner-operator seeking to exit the long-term care industry sold the asset to a regional operator. The name of the facility was not disclosed. Built in the last 50 years, the community exhibited a large number of private rooms with all units being private or semi-private occupancy. Additionally, the community had a five-star Medicare rating and has historically been over 85 percent occupied. Despite …
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), a D.C.-based association serving operators, has promoted Meghan “Megs” Bertoni to director of member services and Sheffield “Sheff” Richey to director of government affairs. Bertoni joined ASHA in 2015 and has served as manager of member services, focusing on meetings-related support, managing ASHA’s website and numerous publications, and special projects such as the annual ASHA 50, Seniors Housing State Regulatory Handbook and State of Seniors Housing. She will continue to be involved in these activities and will also lead efforts to …
FAIR LAWN, N.J. — Trammell Crow Co. (TCC) and its joint venture partner Chelsea Senior Living have announced plans for a three-story, 93-unit senior living facility in Northern New Jersey known as The Chelsea at Fair Lawn. Construction began in November and is scheduled for completion by December 2022. Located in Fair Lawn, the community will be the town’s first independent living, assisted living and memory care community, according to TCC. The property will feature 26 independent living units and 67 assisted living/memory care units. Douglas Coleman & Associates is …
LITTLE EGG HARBOR, N.J. — Tryko Partners has acquired Seacrest Village and The Terraces at Seacrest Village in Little Egg Harbor, expanding its Jersey Shore regional skilled nursing/assisted living real estate portfolio. The assets were family owned and operated for more than three decades. Seacrest Village, a 171-bed, three-story skilled nursing facility, was developed in 1985. It carries a five-star designation from the Centers for Medicare & Medicaid Services (CMS) for both overall quality and quality of resident care. The Terraces, built in 2013, is a two-story, Class A assisted …
HARTFORD, Conn. — Cushman & Wakefield has arranged the sale and recapitalization of a 225-unit portfolio consisting of two independent living, assisted living and memory care communities located in the greater Hartford area. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Chris Remeika exclusively represented Everbrook Senior Living, which is acquiring the communities in a joint venture with White Oak Healthcare REIT. Everbrook will continue to manage the properties following the sale. The seller and price were not disclosed. “[Everbrook’s] focus on continuum communities in underserved markets with …
BELTON, Texas — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 114-bed skilled nursing facility in Belton, approximately midway between Auston and Waco. The facility totals approximately 31,700 square feet on approximately three acres of land. Although the price was not disclosed, SLIB notes the price equates to “somewhere in the low to mid-$80,000 range per bed.” The seller is an independent, local owner-operator looking to retire from the skilled nursing business, while the buyer is also a local owner-operator. Matthew Alley of SLIB handled the transaction. …
TALLAHASSEE, Fla. — LeadingAge Florida has appointed Rhanda McKown as its director of affordable housing. McKown joins LeadingAge Florida from the North Tampa Housing Development Corp., where she served as a local contract specialist. She has nearly 20 years of experience in various aspects of the housing industry and spent the last 15 years conducting management and occupancy reviews (MOR) under the Performance Based Contract Administration (PBCA) contract in Florida. “Through her previous work with our association and her work at the North Tampa Housing Development Corp., she knows many …
ENCINITAS, Calif. — Ware Malcomb has completed construction of Westmont of Encinitas, an assisted living community in the San Diego suburb of Encinitas. Ware Malcomb provided architectural services for the 91,334-square-foot project. The two-story building sits on 3.2 acres and features 93 units in studio, one- and two-bedroom options. Westmont Construction was the general contractor. Westmont Living is the operator.
ANNAPOLIS, Md. — Seniors housing occupancy increased for the second consecutive quarter and rose to 81 percent in the fourth quarter of 2021, a 100 basis-point increase from the third quarter and a 230 basis-point increase from a pandemic-related low of 78.7 percent in the second quarter. By comparison, the occupancy rate was 87.8 percent in March 2020, the first full month of the COVID-19 pandemic. That’s according to new data from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data …
MACUNGIE and ALLENTOWN, Pa. — Colliers has arranged the sale of two seniors housing communities in the Lehigh Valley region of Eastern Pennsylvania for $24 million. The first community was Victoria’s Place, located in Macungie. The 59,500-square-foot community features 80 licensed one-bedroom and studio units, with capacity to add 30 more. The second community was Mountain View in Allentown. The 54,693-square-foot property features 115 beds and was built in 1987. A new operator will be announced for the communities. The buyer and seller were not disclosed. Bob Gaines of the …