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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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AcquisitionsAssisted LivingNewsTennessee

ESI Arranges Sale of Main Street Senior Living in Hendersonville, Tennessee for $4.9M

by Jeff Shaw

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 …

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AcquisitionsKentuckyNewsSkilled NursingTennessee

Strawberry Fields REIT Acquires Six Nursing Facilities in Kentucky, Tennessee for $81M

by Jeff Shaw

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 …

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GeorgiaNewsOperationsTennessee

Veritas Senior Living Takes Over Management of Two Communities in Southeast

by Jeff Shaw

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.

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AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers Sale of Two Communities in Tennessee

by Jeff Shaw

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.

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AcquisitionsAssisted LivingNewsTennessee

Knapp Group Negotiates Sale of 48-Unit Community in Central Tennessee

by Jeff Shaw

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.

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ArizonaFinanceNewsSouth CarolinaTennessee

Walker & Dunlop Arranges $37.4M in Financing for Four Assisted Living, Memory Care Facilities

by Jeff Shaw

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 …

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