HENDERSONVILLE, Tenn. — Evans Senior Investments (ESI) has arranged the sale of Main Street Senior Living, a 58-unit assisted living and memory care community in the Nashville suburb of Hendersonville. A private equity company sold the asset a Southeast-based regional owner-operator for $4.9 million. The community is licensed for 99 beds and the resident base is 100 percent private pay. At the time of marketing, the community was averaging 62 percent occupancy on total revenue of $1.5 million. Due to the low census the community was not profitable and was …
SOUTH BEND, Ind.— Strawberry Fields, an owner and lessor of long-term acute care hospitals, skilled nursing and assisted living facilities in the Midwest and South, has acquired six skilled nursing facilities in Kentucky and Tennessee. The purchase price was $81 million and Strawberry Fields used the proceeds of a recently completed bond offering on the Tel Aviv Stock Exchange to finance the acquisition. The Kentucky facility will join the Landmark portfolio, which has operations throughout Kentucky, and in Texas, Oklahoma, Illinois, and Michigan. Each of The Waters-branded operators at the …
ASHLAND CITY, Tenn., and KENNESAW, Ga. — Veritas Senior Living, an operator based in Tennessee, has added Vantage Pointe Village in Ashland City and Gaines Park Senior Living in Kennesaw into its portfolio. The new communities will bring Veritas’s total number of communities to six. The operator has added three communities in 2021 so far. “We’re experiencing tremendous and fast-paced growth despite our careful navigation of COVID,” says Matthew Fox, Veritas founder and CEO.
TENNESSEE — Senior Living Investment Brokerage has arranged the sale of two identical assisted living and memory care communities totaling 174 units in Tennessee. The buildings were constructed in 2000 and have vacant land available for future expansion. The locations and acquisition price were not disclosed. The seller is an independent owner-operator and the buyer is a partnership between a REIT and an operator targeting growth throughout Tennessee. Patrick Burke and Dave Balow of SLIB handled the transaction.
TENNESSEE — The Knapp-Stahler Seniors Housing Group of Marcus & Millichap has arranged the sale of a 48-unit assisted living and memory care community in Central Tennessee. The property sits on 12 acres and totals 28,000 square feet. It was originally constructed in 2009. The price was $6.5 million. The buyer and seller were not disclosed. Justin Knapp led the transaction.
BLUFFTON and HILTON HEAD, S.C.; TUCSON, Ariz.; and JACKSON, Tenn. — Walker & Dunlop Inc. has structured $37.4 million in financing for four assisted living and memory care facilities. The finance transactions included $5.5 million for Bloom at Bluffton in Bluffton; $5.8 million for Bloom at Hilton Head in Hilton Head; $16.1 million for Cascades of Tucson in Tucson; and $10 million for Regency of Jackson in Jackson. Kevin Giusti and Brian Neal led the origination team. The Bloom portfolio, comprising two assisted living and memory care communities with 117 …
MANCHESTER, Tenn. — National Health Investors Inc. (NYSE: NHI) has expanded its relationship with Navion Senior Solutions through the acquisition of an assisted living and memory care community, funding of an expansion at an existing community, and funding of a corporate loan for future development costs. These investments total approximately $13.2 million. NHI acquired a 48-unit assisted living and memory care community in Manchester for $6.6 million at an initial yield of 7.5 percent. The lease has 2.5 percent annual escalators and was added to the existing master lease with …
NASHVILLE, Tenn. — Bridgewood Property Co., a Houston-based developer of senior living properties, has acquired land in Nashville for the development of a mid-rise, luxury retirement community. With guidance and input from zoning counsel; Tune, Entrekin & White PC; the Metropolitan Planning Department; and local neighborhood groups, the property received zoning approval in February 2021 to build 205 senior living units within a 12-story facility. The new Bridgewood community in the city’s Green Hills neighborhood will offer independent living, assisted living and memory care residences and will be located close …
NEW YORK CITY — Meridian Capital Group’s seniors housing and healthcare team has recapitalized and arranged financing for an eight-property senior living portfolio in South Carolina, Tennessee and Kentucky. Harrison Street entered into a joint venture with the developer, Dominion Senior Living, which will continue to operate the properties. The portfolio consists of eight facilities comprising 296 independent living units, 172 assisted living units and 79 memory care units for a total of 547 units. The names of the properties and total amount of the financing were not disclosed. Meridian’s …
HENDERSONVILLE, Tenn. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Avenida’s third active adult community in Tennessee. The architect of record is Poole & Poole Architecture.