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AcquisitionsGeorgiaMemory CareNews

SLIB Negotiates Sale of 42-Unit Tapestry House Memory Care in Alpharetta, Georgia

by Jeff Shaw

ALPHARETTA, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tapestry House Memory Care in Alpharetta, a suburb north of Atlanta. The community sits on 1.9 acres offering 42 units of memory care. The seller, Insignia Senior Living, is divesting of its U.S.-based assets to focus on core geographic markets in Puerto Rico and Latin America. The undisclosed buyer is looking to expand its skilled nursing and assisted living portfolio throughout Georgia. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB. “This acquisition was strategic for …

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AcquisitionsNewsSkilled Nursing

CareTrust REIT Acquires Five Skilled Nursing Facilities in Southeast for $81M

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based investor, has acquired a five-facility, 498-bed skilled nursing portfolio located in the Southeast for $80.9 million, including transaction costs. In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeast. The lease has an initial term of 10 years with two five-year extension options and provides for a …

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AcquisitionsNewsOhio

Walker & Dunlop Brokers Sale of 128-Unit Legacy Living Florence in Kentucky

by Jeff Shaw

FLORENCE, Ky. — Walker & Dunlop Investment Sales has arranged the sale of Legacy Living Florence, a 128-unit senior living community in Florence, just south of Cincinnati, Ohio. Built in 2022, Legacy Living features independent living, assisted living and memory care services. The buyer was a REIT. The seller and price were not disclosed. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop team.

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NewsPeople

Covenant Living Appoints David Erickson as CEO Following Retirement of Terri Cunliffe

by Jeff Shaw

SKOKIE, Ill. — Covenant Living Communities and Services, a nonprofit, faith-based senior living organization headquartered in Skokie, has appointed David Erickson as the new president and CEO.  He comes to this role following the recent retirement of Terri Cunliffe, who had been in the position since 2015. Erickson has been with Covenant for 16 years, most recently serving as senior vice president and general counsel. Covenant Living currently owns and operates 18 communities in 10 states.

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AcquisitionsNewsOperationsSouth Carolina

Liberty Senior Living Takes Over Management of HarborChase of Rock Hill in South Carolina

by Jeff Shaw

ROCK HILL, S.C. — Liberty Senior Living has taken over management of HarborChase of Rock Hill and renamed the property Kempton of Rock Hill. Rock Hill is located just across the state border from Charlotte, North Carolina. Further details on the transaction were not disclosed. A division of Liberty Health, Liberty Senior Living specializes in senior living and retirement communities.

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CCRCDevelopmentFinanceMissouriNews

Ziegler Arranges $42.3M Financing for John Knox Village in Lee’s Summit, Missouri

by Jeff Shaw

LEE’S SUMMIT, Mo. — Ziegler has arranged $42.3 million in bond financing for John Knox Village, a continuing care retirement community (CCRC) in the Kansas City suburb of Lee’s Summit. The Industrial Development Authority of the City of Lee’s Summit issued the bonds. John Knox Village is one of the nation’s largest nonprofit, single-site offering 948 independent living units ranging from single-family homes to apartments, 106 assisted living units, 76 memory care units and 122 skilled nursing beds. The community also provides home health, hospice, outpatient therapy, ambulance services, private …

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AcquisitionsArkansasNews

SLIB Brokers Sale of 121-Unit Indian Rock Village in Fairfield Bay, Arkansas

by Jeff Shaw

FAIRFIELD BAY, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Indian Rock Village, a 121-bed independent living, assisted living and memory care community in Fairfield Bay. Located along Greers Ferry Lake approximately 80 miles north of Little Rock, the community was built in 1990. A regional owner-operator looking to exit the skilled nursing industry sold the asset to a regional owner. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.

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Company NewsIndependent LivingNewsOperations

Welltower to Transition 89 Holiday Properties to New Operators

by Jeff Shaw

TOLEDO, Ohio — Welltower (NYSE: WELL), a Toledo-based REIT that is the largest owner of seniors housing in the country, has announced plans to transition a portfolio of 89 Holiday by Atria properties to new operators. Welltower acquired the bulk of the properties in 2021 as part of Atria Senior Living’s acquisition of former independent living giant Holiday Retirement, which at the time represented the seventh-largest seniors housing operator buying the third-largest. The American Seniors Housing Association, which tracks the 50 largest U.S. owners and operators of seniors housing annually, reports …

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DevelopmentMarylandNews

Acts Completes $11.5M Expansion at Fairhaven in Sykesville, Maryland

by Jeff Shaw

SYKESVILLE, Md. — Acts Retirement-Life Communities completed an $11.5 million expansion project at Fairhaven, a seniors housing community in Sykesville, approximately 25 miles west of Baltimore. The renovation included a new club room, featuring space for cards and games, table tennis and billiards; the Copper Lantern pub; upgrades to the Beasman Restaurant; expanded seating in the bistro; a new welcome house; and outdoor recreational spaces, including a three-hole golf course.  Renovations also included $400,000 in donor funds from the Acts Legacy Foundation. Acts also plans to open a new pickleball …

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AcquisitionsAlabamaFloridaNebraskaNewsOklahomaOperationsTexas

Sagora Senior Living Takes Over Operations at 17 Communities

by Jeff Shaw

FORT WORTH, Texas — Sagora Senior Living, a Fort Worth-based operator, has taken over management of 17 senior living communities across Alabama, Florida, Nebraska, Oklahoma and Texas.  Sagora expands its footprint in Vero Beach, Florida with the addition of two new communities: Heron Cove Assisted Living and Memory Care and Heron Point Independent Living. Both communities are located less than 10 miles from The Brennity of Vero Beach, another Sagora community. Sagora also recently opened Lynridge of Huntsville Assisted Living and Memory Care, expanding the operator’s Lynridge brand to a …

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