MEMPHIS, Tenn. — Liberty Senior Living has opened Brightmore of East Memphis, an independent living, assisted living and memory care community in Memphis. Further details were not disclosed.
CHATTANOOGA, Tenn. — Charter Senior Living has taken over management of Summit View Senior Community in Chattanooga. Charter will rebrand the independent living and assisted living community as Charter Senior Living of Chattanooga. Charter plans to renovate and update the community’s cosmetic features and plans to maintain the current staff and add additional staff as needed.
CHATTANOOGA, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 48-unit assisted living community in Chattanooga. An institutional REIT sold the asset to an investor looking to grow its regional platform in the Southeast. The price was not disclosed. The building was constructed in 2000 and historically has performed well, according to Blueprint. Kyle Hallion and Brooks Blackmon led the transaction for Blueprint.
FRANKLIN and HENDERSONVILLE, Tenn. — CBRE has arranged $32.2 million in financing for the acquisition of Vitality Living Franklin and Vitality Living Hendersonville, both located in high-growth suburbs of Nashville. The borrowers were Winterpast Capital Partners (WCP), Scribner Capital and its institutional partner, and Broadview Real Estate Partners. Vitality Living, WCP’s wholly owned operating platform, will manage the communities under a traditional third-party agreement. The portfolio consists of 256 assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing, arranged the financing, …
NASHVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Grace Manor, a 42-unit assisted living community in Nashville. A local church built Grace Manor in 2010. The property struggled with occupancy and profitability during the COVID-19 pandemic. As a result of the performance, the property was voluntarily closed in November of 2021. The seller (which purchased the HUD note at auction) is a private investment firm that manages alternative assets for high-net-worth individuals and institutional investors. The buyer and price were not disclosed. Patrick Burke and …
SMYRNA, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Waterford in Smyrna. Located 25 miles southeast of Nashville, the facility features 68 units of assisted living and 24 units of memory care. Built in 2009, there is room for expansion on the 5.3-acre site. The property was 57 percent occupied at the start of the marketing. The seller is a local ownership group that developed and operated the property. The buyer is a Nashville-based owner-operator. The price was $10 million, or $108,695 per unit. Patrick …
MADISON, Tenn., and MARIETTA and JONESBORO, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living and memory care communities in the Southeast. Located in Madison, Marietta and Jonesboro, the portfolio totals 228 units built in 1999 and 2000. The properties are 46,483, 52,642, and 52,157 square feet, and are situated on approximately 3.69, 9.66, and 6.04 acres of land. The seller was a western US owner-operator divesting to focus on its core Western markets as these were outliers in their portfolio. The buyer is …
EAST MEMPHIS, Tenn. — Liberty Senior Living has completed construction of Brightmore of East Memphis, an independent living, assisted living and memory care community in East Memphis. Liberty both owns and operates the community. Construction began in 2021. The development sits on an eight-acre site features 64,000 square feet of amenity space. The number of units was not disclosed.
MEMPHIS, Tenn., and ORMOND BEACH, Fla. — Baker Barrios Architects completed Brightmore of East Memphis, a 180-unit seniors housing development in Memphis, as well as the start of construction on Aden Senior Living, a 131-unit development in Ormond Beach. Both developments include assisted living and memory care facilities, while Brightmore of East Memphis also features an independent living component. Brightmore of East Memphis spans 210,000 square feet and features 122 independent living units, 34 assisted living units and 24 memory care units. Baker Barrios provided architecture and landscape design services. …
NASHVILLE, Tenn., and BALTIMORE and PIKESVILLE, Md. — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged three loan deals totaling nearly $25 million to refinance and preserve three affordable senior living communities in Nashville, Baltimore and Pikesville. Jon Killough and John Roberts originated the Nashville deal and Victor Agusta originated the Maryland loans. Bellwether arranged a $21 million bridge loan for Nashville Christian Towers. The loan will allow Envolve Communities to acquire and finance the 175-unit affordable seniors housing development. Envolve plans to redevelop the property utilizing proceeds from …