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Assisted LivingDevelopmentNewsTennessee

Meridian Realty Advisors Opens 100-Unit Cloverland Park in Brentwood, Tennessee

by Jeff Shaw

BRENTWOOD, Tenn. — Meridian Realty Advisors LP and Integral Senior Living have opened Cloverland Park Senior Living, a 100-unit seniors housing community in the Nashville suburb of Brentwood. Partners on the project include Pi Architects, SCI Construction, Thomas & Hutton, TDI Engineering and MEP Associates Design Group Inc. Located on 6.6 acres, Cloverland features 72 assisted living and 28 memory care units. “As part of this project, we donated seven acres of land to the city of Nashville for a planned park and walking trail site and look forward to …

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AcquisitionsNewsTennessee

Lloyd Jones Acquires 131-Unit Maybelle Carter in Madison, Tennessee

by Jeff Shaw

MADISON, Tenn. — Lloyd Jones has acquired Maybelle Carter, a 131-unit senior independent living, assisted living and memory care community in first-ring Nashville suburb of Madison. The property will operate under Lloyd Jones’ Sage Hill brand as Sage Hill Maybelle Carter. Maybelle Carter is Lloyd Jones’ third seniors housing acquisition this year. In February, the firm added two Class A communities to its senior living portfolio: Aviva Woodlands in Lincoln, Nebraska, and River Bend in Rochester, Minnesota. The property was built on the former estate of country music legend “Mother” …

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AcquisitionsAssisted LivingNewsOperationsTennessee

Charter Senior Living to Operate Village at Primacy Place in Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Charter Senior Living has taken over management duties at The Village at Primacy Place in Memphis. Formerly known as Rose Terrace Assisted Living, the community offers assisted living services. The Village at Primacy Place increases the family of Charter Senior Living retirement communities to more than 40 throughout the U.S.

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AcquisitionsDevelopmentMichiganNewsOhioOperationsTennessee

Welltower Acquires 33-Property Seniors Housing Portfolio for $548M, Plans Two Developments in Silicon Valley

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based healthcare REIT, has agreed to acquire 33 seniors housing communities totaling 2,787 units in Michigan, Ohio and Tennessee. The purchase price is $548 million. The communities will be acquired as three separate portfolios from undisclosed sellers. The communities were available for purchase because the lease-up process was heavily damaged by the onset of the COVID-19 pandemic. With occupancy at only 63 percent, Welltower expects the communities will greatly improve their performance in 2023 and beyond. Welltower will install Michigan-based senior living operator …

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AcquisitionsAlabamaNewsTennessee

Blueprint Brokers Sale of Two Communities in Alabama, Tennesse

by Jeff Shaw

ALABAMA and TENNESSEE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a two-property portfolio of communities in Alabama and Tennessee. The portfolio included two seniors housing communities consisting of 152 units of independent living, assisted living and memory care. The properties were built in 2018. An Alabama-based owner-operator bought the assets as part of a plan to increase its footprint in the Southeast. The seller and price were not disclosed.

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AcquisitionsAlabamaNewsTennessee

Atlas Senior Living, Salta Capital Acquire Two Properties in Alabama, Tennessee

by Jeff Shaw

ATHENS, Ala., and SPRING HILL, Tenn. — Birmingham-based Atlas Senior Living and Salta Capital are adding two new senior living communities in Alabama and Tennessee to their portfolios, bringing their total number of properties to 32. Atlas will be the owner-operator of the communities. The Goldton at Athens totals 75,824 square feet and 84 units total, comprising 12 independent living residences and 72 assisted living residences. The Goldton at Spring Hill totals 66,395 square feet and 79 units total, with 63 assisted living residences and 16 memory care residences. The …

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AcquisitionsNewsTennessee

American House Acquires 13 Senior Living Communities in Tennessee

by Jeff Shaw

SOUTHFIELD, Mich. — Southfield-based American House Senior Living Communities has acquired 13 seniors housing communities in Tennessee totaling 875 units. Seniors housing giant Ventas sold the portfolio for an undisclosed price. The properties were formerly Elmcroft Senior Living campuses and will be rebranded as American House Senior Living Communities. With this new portfolio, Southfield-based American House will now manage a total of 70 independent living, assisted living and/or memory care facilities. The portfolio includes the following properties: American House Bartlett features 66 assisted living apartments and is located at 3345 …

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DevelopmentNewsTennessee

Sagestone Partners, Arbor Company Plan 237-Unit Opus East Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Sagestone Partners and The Arbor Company have unveiled plans for Opus East Memphis, a senior living facility in Memphis. The 237-unit community is scheduled to welcome residents in early 2023. Opus East Memphis will feature 47 cottages, 107 independent living apartments, 63 assisted living apartments and 20 memory care residences.

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Active AdultDevelopmentNewsOperationsTennessee

Greystar to Manage Album Indian Lake Active Adult Community in Hendersonville, Tennessee

by Jeff Shaw

HENDERSONVILLE, Tenn. — Greystar has been awarded management of Album Indian Lake in the Nashville suburb of Hendersonville. Avenida is currently developing the property. “Album Indian Lake is an active adult community, providing an active lifestyle for likeminded adults in a similar life stage; this doesn’t exist in Hendersonville currently,” says Ally Hackney, senior regional property manager. “There is a need for this type of housing as we see more and more active adults looking to right-size their living environment, live a maintenance-free lifestyle and meet new friends within a …

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AcquisitionsActive AdultNewsTennessee

SLIB Brokers Sale of 150-Unit Tranquility at Hickory Hill Active Adult Community in Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tranquility at Hickory Hill, a 150-unit active adult community in Memphis. The property offers the opportunity to rebuild 10 units that were previously damaged by fire. The community was originally built in 1985, totaling 161,990 square feet on a 13-acre plot. A regional owner sold the asset to a Southern California-based multifamily group looking to increase its footprint in active adult. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the …

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