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AcquisitionsAssisted LivingNewsWisconsin

Blueprint Brokers Sale of 80-Unit Community in Appleton, Wisconsin

by Jeff Shaw

APPLETON, Wis. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of an 80-unit assisted living and memory care community in Appleton, near Lake Winnebago southwest of Green Bay. 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 invest in renovations and repositioning. Unfortunately, the cumulative impact of …

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AcquisitionsCompany NewsIllinoisMissouriNews

Lutheran Senior Services Agrees to Acquire St. Louis Home Health

by Jeff Shaw

ST. LOUIS — Lutheran Senior Services (LSS), a nonprofit provider of care, services and senior living for older adults in Missouri and Illinois, has agreed to acquire St. Louis Home Health (SLHH) for an undisclosed price. LSS, which already provides home health services among its offerings, cited the SLHH’s orthopedic expertise as a key reason for the acquisition, as well as its extended footprint in Illinois. The transaction is expected to close at the end of this month.

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DevelopmentFeaturesFinanceNewsPeople

CEOs Tackle Labor Issues, Rent Growth, Borrower Challenges During InterFace Panel Discussion

by Jeff Shaw

PHILADELPHIA — The wants and needs of the labor force in seniors housing are different today than they were pre-pandemic, forcing operators to adapt on many levels, said Lynne Katzmann, founder and CEO of Juniper Communities. “The gig economy has created a new set of demands on us that we haven’t had to face before.”  Katzmann has her finger on the pulse. Bloomfield, New Jersey-based Juniper is an owner and operator of 29 senior living communities in four states with a resident capacity of 2,300 and 1,750 employees. Ultimately, workers …

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FeaturesNews

As Markets Settle Down, ‘the Hardest Part is Over,’ Say Webinar Panelists

by Jeff Shaw

The last few years have been a time of unpredictability in seniors housing, as the combined factors of pandemic recovery, rapidly rising interest rates, high inflation and labor shortages weighed heavily on investors and operators. “There have been a lot of predictions and forecasts since 2020,” said JP LoMonaco, executive vice president at CBRE. “A lot have been spot on; a lot have been way off base. As we approach the end of 2023, it seems like forecasts about what the American economy will do in 2024 are more varied …

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DevelopmentMassachusettsNews

Kisco Plans 159-Unit The Newbury of Brookline on Former College Campus in Metro Boston

by Jeff Shaw

BROOKLINE, Mass. — Kisco Senior Living has opened The Newbury of Brookline, a 159-unit seniors housing community in the first-ring Boston suburb of Brookline. Part of Kisco’s upscale portfolio, the development is situated on the historic Newbury College site. Welltower purchased the campus in 2019 and announced at that time its plans to convert the site into seniors housing. The development is scheduled to open in fall 2024. With 190,000 square feet of new construction and 20,000 square feet of restoration to the historic Mitton House, the project includes 81 independent living, …

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AcquisitionsAssisted LivingIndianaNews

Ziegler Negotiates Sale of 41-Unit BrightStar Senior Living Fort Wayne in Indiana

by Jeff Shaw

FORT WAYNE, Ind. — Ziegler, as exclusive financial advisor to Marquee Capital (formerly Berengaria Development), has arranged the sale of BrightStar Senior Living Fort Wayne. The community offers 41 units of assisted living and memory care in Fort Wayne. Marquee Capital developed the property, which BrightStar Senior Living has operated since it opened in 2018. The 3.25-acre asset is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne. Lutheran Life Villages (LLV) purchased the property and took over operations. LLV is a local, faith-based, nonprofit organization …

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AcquisitionsNewsTexas

Artemis Real Estate Partners Buys 221-Unit Franklin Park Alamo Heights in San Antonio

by Jeff Shaw

SAN ANTONIO — JLL Capital Markets has arranged the sale of Franklin Park Alamo Heights, a seniors housing community in San Antonio. The transaction involves Artemis Real Estate Partners taking over as equity partner from Harrison Street, while retaining Franklin Park as part owner in the joint venture. JLL also placed the acquisition financing with a Freddie Mac loan for the buyer. Neither the price nor the amount of the financing were disclosed. Franklin Park Alamo Heights features 117 independent living units, 64 assisted living units and 40 memory care …

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AcquisitionsColoradoMemory CareNews

SLIB Brokers Sale of 40-Unit Renew Saddle Rock Memory Care in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renew Saddle Rock Memory Care in Aurora, approximately 20 miles southeast of Denver. The asset features 40 units and 52 beds and was built in 2015. The property totals 38,585 square feet on approximately 4.7 acres of land. The seller was an out-of-state private equity group with a third-party operator divesting the asset to exit the senior living space. The buyer was an experienced Denver-based owner-operator looking to grow its portfolio. The price was not disclosed. Vince …

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NewsPeople

Veteran Real Estate Executive Anthony Marten Re-Joins JLL to Lead Healthcare Sales

by Jeff Shaw

CHICAGO — JLL announced has hired Anthony Marten as a principal and healthcare division sales lead for its solutions development team. In this new role, he is responsible for developing sales strategies, strengthening relationships with clients’ executive teams and leading solutions opportunities. Marten’s career in in project management, lease administration, integrated facilities management, transaction management and strategic planning spans 25 years and two continents. He began his commercial real estate career with JLL in 1998 and served in various roles until 2007, gaining experience in healthcare, life sciences, financial services …

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AcquisitionsAffordable HousingIllinoisNews

Standard Communities Acquires 214-Unit Huntington Towers Affordable Community in Mount Prospect, Illinois

by Jeff Shaw

MOUNT PROSPECT, Ill. — Standard Communities has led a public-private partnership in acquiring Huntington Towers, an affordable seniors housing community in Mount Prospect, approximately 20 miles northwest of Chicago. The community totals 214 units, and the acquisition will preserve its affordability for 30 years. The total capitalization of the transaction is approximately $74.9 million, including $16.1 million for planned renovations. Standard completed the acquisition in partnership with the Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development. The property was originally built in 1978. Renovations at …

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