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AcquisitionsNevadaNews

Bascom Ground Acquires Homestead at Boulder City in Nevada for $3M

by Jeff Shaw

BOULDER CITY, Nev. — The Bascom Group LLC has acquired Homestead at Boulder City, a seniors housing community in the Las Vegas suburb of Boulder City, for $3 million.  Homestead is a single-story building constructed in 1999. It features 72 units of seniors housing. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Co. as the lender. Brad Goodsell, Vince Viverito, Jason Punzel and Brad Clousing of Senior Living Investment Brokerage (SLIB) represented the undisclosed seller. Apartment Management Consultants will provide property …

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AcquisitionsNewsSkilled NursingTennessee

Blueprint Brokers Sale of 81-Bed Skilled Nursing Facility in Madisonville, Tennessee

by Jeff Shaw

MADISONVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 81-bed skilled nursing facility in Madisonville, located between Knoxville and Chattanooga. The seller was The Trousdale Foundation, a nonprofit owner through Trousdale Living Communities. The buyer was a New York-based provider. Although the price was not disclosed, the per-bed price of $150,000 equates to approximately $12 million. Constructed in 1982, the asset is located on four acres approximately 10 miles south of Sweetwater Hospital. As the only licensed provider in the city, the high-quality facility generated …

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FinanceNewsPeople

Juniper Communities Promotes Stephanie Pressler to Controller

by Jeff Shaw

BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based provider of senior living communities, has promoted Stephanie Pressler to controller. Pressler joined Juniper Communities in 2016, when the company acquired its Bensalem, Pennsylvania campus, Juniper Village at Bucks County. As a member of Juniper’s internal provider relief fund team, Pressler helped steer the company through the COVID-19 pandemic, assisting in the application for relief funding. She is responsible for monthly and annual financial reporting, budgets and annual audits.

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CCRCDevelopmentNewsOregon

Terwilliger Plaza CCRC in Portland, Oregon Completes $105M Expansion Project

by Jeff Shaw

PORTLAND, Ore. — Terwilliger Plaza, a single-site, nonprofit continuing care retirement community (CCRC) in Portland, has completed a $105 million expansion. The new building, named Parkview, rises 10 stories and offers 127 independent living units. It represents the largest building constructed to Passive House sustainability standards on the West Coast, according to the developers. The 370,000-square-foot structure is connected to the main campus via a steel skybridge. Terwilliger Plaza can now house up to 550 residents. LRS Architects worked in collaboration with Walsh Construction Co., engineering firm PAE, and Terwilliger …

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AcquisitionsNewsNorth DakotaWisconsin

Meridian Arranges Sale of Three-Property, 428-Unit Portfolio in Wisconsin, North Dakota 

by Jeff Shaw

WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.

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NewsOklahomaOperationsTexas

Surpass Takes Over Management of Communities in Oklahoma, Texas

by Jeff Shaw

CARROLLTON, Texas, and OKLAHOMA CITY ­— Surpass Senior Living has taken over management of The Gardens at Quail Springs in Oklahoma City and Carrollton Gardens in Carrollton.  Surpass Senior Living is a subsidiary company of McFarlin Group LLC, a Dallas-based private equity firm focused on the senior living industry and the owner of the communities.  Further details were not disclosed.

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FinanceNewsPeople

BWE Investment Sales Hires Tony Hong as Vice President

by Jeff Shaw

CLEVELAND — BWE Investment Sales LLC (BWEIS), a Cleveland-based investment sales organization that works closely with mortgage banker BWE, has hired Tony Hong as a vice president for seniors housing.  With over 15 years of experience in seniors housing investments, development, capital markets and advising, Hong will work closely with Charles Bissell with an aim to grow BWEIS’ seniors housing investment sales platform in partnership with the seniors housing debt team led by Ryan Stoll. Most recently, Hong was senior vice president of acquisitions and underwriting at Cogir Senior Living, …

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CCRCDevelopmentMinnesotaNews

Kraus-Anderson Begins $41.5M Expansion of Trillium Woods in Plymouth, Minnesota

by Jeff Shaw

PLYMOUTH, MINN. — Kraus-Anderson has begun a $41.5 million expansion of Trillium Woods, an independent retirement community in Plymouth, a western suburb of Minneapolis.  Trillium Woods is a continuing care retirement community (CCRC) that provides wellness services and levels of senior healthcare, including memory care, skilled nursing and rehabilitation.  The 160,321-square-foot, five-story expansion calls for 18 assisted living units, 16 memory care units, 52 independent living units and 67 underground parking spaces.  Construction is slated for completion in fall 2025. Pope Design Group was the architect.

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Arranges Sale of Value-Add Community in Metro Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a value-add assisted living community near Memphis. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, the cumulative impact of COVID followed by an unprecedented rise in interest rates …

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