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AcquisitionsFloridaNews

Prime Care One Sells Two HarborChase Communities in Florida for $26.8M

by Jeff Shaw

NAPLES and VENICE, Fla. — JLL Capital Markets has arranged the $26.8 million sale of a senior living portfolio consisting of two properties totaling 243 units in Southwest Florida. JLL worked on behalf of the seller, Prime Care One, to complete the sale to the buyer, Pointe Group Care. The portfolio includes HarborChase of Naples and HarborChase of Venice, which offer assisted living, memory care and skilled nursing services. Since 2015, the previous owner invested in excess of $3.5 million to update generators, cooling towers and roofs, among other renovations. …

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ArizonaDevelopmentNews

Link Senior Development, Insight Senior Living Start Construction of Ativo Senior Living of Prescott Valley, Arizona

by Jeff Shaw

PRESCOTT VALLEY, Ariz. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley. Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages. The community is scheduled to open in summer 2022. Link Senior Development leads the project as the developer. Ankrom Moisan is serving as the architect on the project, Seabold …

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DevelopmentFloridaNews

Gates Construction to Lead Lehigh Acres Senior Citizen Center Renovation in Florida

by Jeff Shaw

LEHIGH ACRES, Fla. — Gates Construction has been selected to provide construction management services for the renovation of the Lehigh Acres Senior Citizen Center. The improvements will include ADA-compliant restroom upgrades, an ADA special lift to access the multi-purpose room stage, kitchen updates and replacement of all six rooftop HVAC units. The center is a nonprofit organization that was established to provide seniors with opportunities to be engaged, enriched and empowered. ADG Architecture provided design services.

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AcquisitionsAssisted LivingGeorgiaNews

Blueprint Brokers Sale of 160-Unit Community Near Atlanta

by Jeff Shaw

SANDY SPRINGS, Ga. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 160-unit assisted living and memory care community in Sandy Springs, just north of Atlanta. The community, which was not identified, recently underwent a multi-million-dollar renovation. The buyer is a turnaround specialist entering Georgia for the first time. Details on the seller and price were not disclosed.

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Company NewsNewsPeopleTechnology

Sentrics Adds Aging Innovation Strategist Sarah Thomas to Advisory Council

by Jeff Shaw

DALLAS — Sentrics, a Dallas-based seniors housing technology firm, has added Sarah Thomas to its advisory council. A global aging expert, Thomas brings nearly 20 years of knowledge transforming the aging experience to the council, which provides the Sentrics management team guidance and insights about the trends impacting the services and care of senior living. Thomas’ technology perspective is shaped by her experience helping some of the largest senior living companies develop and implement strategic change management initiatives and innovative human potential products. Combining corporate, entrepreneurial and consulting experience with …

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Assisted LivingDevelopmentNewsTexas

MorningStar, Hines Prepare to Open 112-Unit Community in Houston’s River Oaks

by Jeff Shaw

HOUSTON — Denver-based operator MorningStar Senior Living and Houston-based real estate firm Hines have opened an information center at MorningStar Assisted Living & Memory Care at River Oaks in Houston. The community is scheduled to open this fall, featuring 85 assisted living units and 27 memory care suites. The six-story community is bordered by River Oaks, West University, The Texas Medical Center, Montrose, downtown and the Galleria. Its central location allows access to nearby amenities, including the Museum District, the Houston Zoo, Rice University, Levy Park and dining and shopping experiences.

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Assisted LivingCaliforniaDevelopmentFinanceNews

JLL Capital Markets Arranges Development Financing for The Lodge at Piner Road in Santa Rosa, California

by Jeff Shaw

SANTA ROSA, Calif. — JLL Capital Markets has arranged financing for development of The Lodge at Piner Road, a 92-unit seniors housing community. Blue Mountain Enterprises and Calson Management are developing the property, located in Santa Rosa, part of Sonoma County. Although the amount of the financing was undisclosed, it represents a 75 percent loan-to-cost ratio. A private lender provided the funds. The Class A property will total 37,762 square feet and consist of 66 assisted living units and 26 private memory care units. The property is adjacent to both …

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AcquisitionsFloridaGeorgiaNews

Sabra Acquires Two Communities in the Southeast for $28.5M

by Jeff Shaw

AUGUSTA, Ga., and GULF BREEZE, Fla. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has acquired a 100-unit seniors housing facility in Augusta and a former seniors housing facility in Gulf Breeze for an aggregate purchase price of $28.5 million. The Augusta location, The Claiborne at West Lake, opened in late 2018 and was nearly 90 percent occupied at the time of the transaction. The transaction was underwritten with an initial cash yield of nearly 8 percent and features an earnout opportunity for the seller after 12 months. Simultaneously with …

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AcquisitionsGeorgiaNews

SLIB Negotiates Sale of 46-Unit Mulberry Grove in Statham, Georgia

by Jeff Shaw

STATHAM, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mulberry Grove, a 46-unit seniors housing community in Statham, west of Athens. Built in 1997, the seller was a local owner-operator looking to retire. The buyer and price were undisclosed. Daniel Geraghty, Bradley Clousing and Dave Balow handled the transaction for SLIB. “This community will benefit operationally from the buyers expanding footprint throughout the Southeast,” says Geraghty.

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FinanceM&T Realty Capital CorporationNewsSkilled NursingWashington

M&T Realty Capital Provides $3.1M Refinancing for Skilled Nursing Facility in Seattle

by Jeff Shaw

SEATTLE — M&T Realty Capital Corp. has provided a $3.1 million, FHA-insured loan for the refinance of a 47-unit skilled nursing facility in Seattle. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(a)(7) program. The 21-year loan features a 2.68 percent fixed interest rate and is fully amortizing. The transaction was led by Jim Schneider and Madeleine Roach of M&T Realty Capital’s Seattle office. Details on the borrower and facility were not disclosed.

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