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Brookdale-Senior-Living
Company NewsNewsTennessee

Brookdale Declines to Renew 120-Community Master Lease with Ventas

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living, the largest seniors housing operator in the United States, has declined to exercise its right to renew an existing master lease with real estate investment trust Ventas.  Covering 120 seniors housing communities, the lease will remain effective through its current term, which ends Dec. 31, 2025. Annual cash rent under the master lease will total $113.6 million in 2025.  In a press release, Brentwood-based Brookdale indicated the portfolio has “historically generated significant negative cash flows.” Additionally, Brookdale stated that it is open to continuing discussions …

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AcquisitionsNewsTennessee

Brookdale Senior Living Agrees to Acquire Three Portfolios Totaling 41 Properties for $610M

by Channing Hamilton

BRENTWOOD, Tenn. — Brookdale Senior Living (NYSE: BKD), an owner-operator based in the Nashville area, has entered into agreements to acquire three triple-net-leased seniors housing portfolios totaling 41 properties and 2,789 units. The combined purchase price is $610 million. Brookdale currently leases and operates the properties on triple-net bases. In explaining the move, company officials noted that by taking ownership of these communities, Brookdale will gain portfolio management flexibility that is not present in a leased structure, providing additional opportunities to further enhance shareholder value. “The immediate and long-term benefits …

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AcquisitionsAssisted LivingNewsSkilled NursingTennessee

ESI Brokers Sale of Mabry Health Care & Rehabilitation Center in Gainesboro, Tennessee

by Channing Hamilton

GAINESBORO, Tenn.— Evans Senior Investments (ESI) has arranged the sale of Mabry Health Care & Rehabilitation Center in Gainesboro, located about 88 miles east of Nashville. The transaction was executed on behalf of the seller, an independent owner-operator. The buyer was Strawberry Fields REIT in an off-market transaction. Mabry Health Care, a family-owned nursing home founded in 1979, has served the Gainesboro community for over four decades. Originally focused solely on skilled nursing care, the center expanded its services in 2005 to include assisted living. Today, the facility comprises 108 total …

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Negotiates Sale of 77-Unit Community in Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 77-unit assisted living and memory care community in Memphis. The property was built in the late 1990s. The buyer was a Buffalo, New York-based owner-operator seeking to expand its Southeastern geographic footprint. The seller and price were not disclosed.

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Town Village Vestavia Hills
AlabamaFinanceIndependent LivingMichiganNewsOklahomaTennessee

JLL Arranges $115M Bridge Financing for Town Village Independent Living Portfolio 

by Jeff Shaw

DUBLIN, Ohio — JLL Capital Markets has secured a $115 million bridge financing for a portfolio of four Town Village independent communities totaling 852 units spanning across Alabama, Tennessee, Oklahoma and Michigan. JLL represented the borrowers, Chicago Pacific Founders and Grand Park Capital, in arranging the three-year, nonrecourse loan through Ally Bank. The properties were built between 2000 and 2002 and have all undergone renovations by the borrowers.  Jay Wagner, Rick Swartz, Joel Mendes, Dan Kearns, Jim Dooley and Robert Tonnessen led the JLL team.

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NewsOperationsTennessee

Grace Management Assumes Management of 180-Unit The Summit of Germantown in Memphis, Tennessee

by Jeff Shaw

MEMPHIS, Tenn. — Grace Management Inc. has assumed management responsibilities for The Summit of Germantown in Memphis. The community features 122 independent living units, 34 assisted living units and 24 memory care units. This transition represents an expansion in the greater Memphis market for Grace, complementing an existing community, Town Village Audubon Park.

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AcquisitionsAlabamaFinanceGeorgiaLouisianaNewsSkilled NursingTennessee

Dwight Mortgage Trust Provides $142M Acquisition Financing for Skilled Nursing Portfolio in the Southeast

by Jeff Shaw

ATLANTA; MEMPHIS, Tenn.; MOBILE, Ala.; and SHREVEPORT, La. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in prime urban areas surrounding Atlanta, Memphis, Mobile and Shreveport.  The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing.  Collectively, these facilities total …

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AcquisitionsNewsTennessee

Covenant Living Affiliates with Two Communities in Metro Knoxville

by Jeff Shaw

KNOXVILLE and MARYVILLE, Tenn. —  Covenant Living Communities and Services and Presbyterian Homes of Tennessee, have closed on an affiliation with two communities in the metropolitan area of Knoxville. Shannondale of Knoxville, located in Knoxville, sits on 50 acres and offers independent living and assisted living comprising of 228 apartments, homes and duplexes. Shannondale of Maryville, 24 miles south of Knoxville, sits on 34 acres and offers independent living, assisted living and skilled nursing with 237 apartments, homes and duplexes. Under the agreement, the two communities are now affiliate members and …

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AcquisitionsNewsSkilled NursingTennessee

ESI Arranges Sale of 136-Bed Henry County Healthcare Center in Paris, Tennessee

by Jeff Shaw

PARIS, Tenn. — Evans Senior Investments (ESI) has arranged the sale of Henry County Healthcare Center, a 136-bed skilled nursing facility in Paris, located near the Kentucky border west of Nashville and northeast of Memphis.  The transaction was executed on behalf of Henry County. Built in 2001, Henry County Healthcare Center sits on five acres of land. At the time of marketing, the facility was only 43 percent occupied and experiencing negative cash flows.  Since the COVID-19 pandemic, the community has consistently remained below a 50 percent occupancy level. Although …

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