LOS ANGELES — Avison Young has arranged the $23.5 million sale of a seniors housing facility located at 6700 Sepulveda Blvd. in the Van Nuys neighborhood of Los Angeles. Boca Raton, Fla.-based Pinnacle Holdings of Florida sold the asset to an entity of California Healthcare & Rehabilitation Center, which currently operates the property. Situated on two acres, the 49,818-square-foot facility features 201 beds for seniors. Peter Sherman and Keith O’Donnell of Avison Young represented the seller in the off-market deal.
RICHMOND HEIGHTS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a suburb northeast of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney led the Blueprint team.
WOODSTOCK, Ga. — Distinctive Living has assumed management of Bellevue Village at Woodstock and Bellevue Village at Neese Road, two communities located in Woodstock, a northern suburb of Atlanta. Bellevue Village at Woodstock offers assisted living and memory care, and Bellevue Village at Neese Road offers personal care and memory care.
DANVILLE, Calif. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace …
CYPRESS, Calif. — BWE has arranged $46 million in permanent financing for Westmont of Cypress. The 129-unit, newly built, Class A independent living, assisted living and memory care community is located in the Orange County city of Cypress. Ryan Stoll and Taylor Mokris of BWE originated the loan, which a life insurance company provided.
EVANSTON, Ill. — Members of Generation X — those born between 1965 and 1980 — are more concerned about aging than their baby boomer counterparts, particularly about finances, memory problems, and social isolation. Boomers, on the other hand, are more worried about losing independence. That’s according to a research study by Mather Institute, the research arm of Evanston-based owner-operator Mather. The institute recently released the first findings from its five-year study titled The Gen Xperience: A 5-Year Journey into the Lives of Generation X. The study surveyed 2,504 members of the …
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a memory care community in Dayton, and the buyer plans to convert the property into a substance use disorder clinic. A seniors housing operator and its institutional capital partner decided to exit the property, and the highest offers were from behavioral health companies, according to Blueprint. Further details on the buyer, seller and price were not disclosed. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso led the Blueprint team.
MIAMI — SG Holdings has completed leasing at Sawyer’s Walk, a 3.4-acre mixed-use development underway in Miami’s Overtown neighborhood. The project, which will feature retail space, offices and affordable housing for seniors, is set to open this summer. SG Holdings is a partnership comprising Swerdlow Group, SJM Partners and Alben Duffie. The development team broke ground on Sawyer’s Walk in summer 2021. The development costs were not disclosed, but the Miami Herald reported the price tag hovers around $350 million. “The anticipated delivery of our mixed-use development will serve as an economic …
DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner-operator of communities and services for seniors, has executed a $47.8 million equity private placement, including an investment from Conversant Capital, the company’s largest shareholder. Sonida plans to use this new capital for the completion of its balance sheet repositioning, continued investments in community improvements, broader community programming and acquisition opportunities. The shares were issued at $9.50 per share, a 5 percent premium to the 30-day volume weighted average price prior to closing. The equity private placement will close in …
PLEASANT PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-unit assisted living and memory care community in Pleasant Prairie, approximately midway between Chicago and Milawukee. Built in 2016, the facility benefits from an attractive, modern physical plant and has been well maintained, according to SLIB. The seller was an East Coast-based private equity firm. The buyer is a regional owner-operator that had been looking to expand in this market. The price was not disclosed. Bradley Clousing, Ryan Saul, and Jeff Binder of SLIB handled …