MACEDONIA, Ohio — Sonida Senior Living Inc. (NYSE: SNDA) has acquired a 100-unit assisted living and memory care in Macedonia, approximately midway between Cleveland and Akron. The latest acquisition, in close proximity to an existing Sonida asset, brings the total number of the company’s Ohio portfolio properties to 11. The asset, built in 2015, has not recovered from changes in operator and COVID-driven challenges, according to the buyer. Sonida is acquiring the asset for $10.7 million at a 43 percent discount to the in-place senior mortgage loan and approximately $105,000 …
MILWAUKEE and GREEN BAY, Wis. — Blueprint Healthcare Real Estate Advisors has brokered the sale of 12 seniors housing communities in the Milwaukee and Green Bay metro areas. The properties span nine campuses totaling 279 units of assisted living and memory care. Despite underperforming at time of marketing, the portfolio was historically well-occupied and cash-flowing, according to Blueprint. A public REIT sold the assets to Adava Care for an undisclosed price. Kyle Hallion, Lauren Nagle and Brooks Blackmon led the Blueprint team.
DENVER — Evans Senior Investments (ESI) has arranged the sale of the Novellus Cherry Creek, an assisted living community in Denver. ESI represented Novellus Living in the transaction. Peaks Healthcare purchased the asset for an undisclosed price. Originally built in 2002, Novellus Cherry Creek comprises 66 assisted living units and operates on a 59 percent private-pay basis. The community faced occupancy challenges, with only 36 percent of its units occupied at the time of marketing. In alignment with its broader portfolio strategy, Novellus Living opted to divest its Colorado asset, …
DALLAS — The rental active adult segment of commercial real estate faces an array of unique challenges, largely caused by the greater public not being aware of or understanding the sector. For active adult operators, this means that powerful marketing strategies are the cornerstone of success because there is no organic customer growth. That’s the message of a group of operators who gathered at InterFace Active Adult, held April 18 at The Westin Las Colinas in Dallas. The executives participated in a panel titled “Operating Active Adult: What Works and …
FOLSOM, Calif. — Cogir Senior Living has completed renovations at Cogir of Folsom, an assisted living community in Folsom, approximately 20 miles northeast of Sacramento. Cogir of Folsom specializes in full-time memory care and short-stay respite care. The three-phase project included the Lake Tahoe Room, a sensory experience meant to re-create vacation visits to nearby Lake Tahoe.
WISCONSIN — Ziegler has arranged the sale of an 80-bed skilled nursing and assisted living facility in Washburn County, Wisconsin. The seller was a 501(c)(3) nonprofit organization serving elderly and disabled people across the Upper Midwest. A local operator acquired the asset for an undisclosed price.
QUINCY, Mass. — Nixon Peabody LLP has negotiated a Green & Resilient Retrofit Program (GRRP) transaction for Bauer House, a seniors housing community in the Boston suburb of Quincy. Wollaston Lutheran Church owns the property. The transaction also involved a Rental Assistance Demonstration (RAD) conversion and FHA-insured Section 223(f) loan originated by Hampden Park Capital and made by Lument Real Estate Capital. Bauer House, a subsidized residence for independent seniors, will use the GRRP funds and FHA-insured loan proceeds to finance a new energy-efficient HVAC system and to make accessibility …
MARYLAND — Capital Funding Group (CFG) has provided a $20 million bridge-to-HUD loan to refinance debt on a 125-bed skilled nursing facility in Maryland. Tim Eberhardt and Ava Julio led the CFG team. Further details were not disclosed.
LAS CRUCES, N.M. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-bed transitional care facility in Las Cruces, approximately 45 miles northwest of El Paso, Texas. The community was built in 2017 and is strategically located within two miles of three short-term acute care hospitals that offer Medicare referral opportunities. With trailing EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) approaching $745,000 at the time of marketing, the facility presented an acquisition opportunity for a regionally focused owner-operator to realize immediate cash …
RANCHO SANTA FE, Calif. — Belmont Village Senior Living and Greystar Real Estate Partners have unveiled plans for Belmont Village Rancho Santa Fe, a luxury active adult community in Rancho Santa Fe, approximately 25 miles north of San Diego. Groundbreaking is scheduled to occur before the end of the year. The project will feature over 185 apartments including 15 freestanding cottages. The leaders of both Greystar and Belmont Village, Jerry Brand and Patricia Will, are long-term residents of Rancho Santa Fe. Belmont Village Rancho Santa Fe will be Belmont Village’s …