Fortress Investment Group Divests Arizona Asset
JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture with Cogir Senior Living, so Cogir clearly did a great job (and will be continuing as manager). Alanna Ellis and Alex Sheaffer of JLL had arranged acquisition financing for that deal, and Nick Stahler, Hamid Panahi and Steve Gebbing with Institutional Property Advisors of Marcus & Millichap had handled the 2024 sale. Built in 2019, the community... Read More »Stacked Stone Makes Another Acquisition
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made an Illinois acquisition in a joint venture with the private equity firm Praxis Capital. Totaling 159 units, the communities were built in 2000 and 2004. Occupancy was in the high-60% range, so there was room to grow for the incoming operator, Longevity Senior Living. The operating margin stood close to 5%, with full financials available on LevinPro LTC. Stacked Stone can also significantly increase value,... Read More »Blueprint Handles Large SNF Deal in Pennsylvania
Not-for-profit to for-profit are not easy, and it took a two-year process for Blueprint to successfully close the sale of a 250-bed skilled nursing facility in Philadelphia, Pennsylvania. The property appears to be Cheltenham Nursing & Rehabilitation, one of three skilled nursing facilities owned by Dublin, Ohio-American Health Foundation (AHF) that had agreed with the United States Department of Justice in June 2025 to pay $3.61 million to resolve claims related to billing Medicare and Medicaid for “grossly substandard skilled nursing services between 2016 and 2018.” The facilities were sued by the DOJ in June 2022 when the United States alleged that each facility failed to follow... Read More »JDI Realty Buys Alpharetta Asset
A partnership recently acquired Chapters Living of Alpharetta, a 79-unit assisted living/memory care community in Alpharetta, Georgia (Atlanta MSA). Built in 2013, the high-quality community was previously known as Addington Place of Alpharetta. JDI Realty, in partnership with Purity Strategies and Chapters Senior Living, bought the community for an undisclosed price. Chapters operates two nearby communities and looks to continue expanding in the greater Atlanta area. The community will be renamed Chapters Living of Alpharetta. The deal brings JDI Realty’s seniors housing portfolio to eight properties and approximately 1,000 units across the country. Read More »Class-A Active Adult Community Secures Refinance
JLL Capital Markets arranged the refinancing for Connery on Providence, a newly built 200-unit active adult community in Charlotte, North Carolina. JLL represented Proffitt Dixon Partners in securing the loan through New York Life Insurance Company. Connery on Providence is a Class-A 55+ rental community that occupies a 12.75-acre infill site. Completed in 2023, it features one- and two-bedroom residences across four three-story buildings. Property amenities include pickleball courts, a saltwater pool, a wellness and fitness center, spa facilities and concierge services. The community also offers a movie screening lounge, an overnight guest suite, demonstration kitchen and dog spa.... Read More »
Public REIT Divests to Owner/Operator
Blueprint facilitated the sale of a Massachusetts skilled nursing facility on behalf of a public REIT in the senior care sector. The REIT determined that the facility was a strong candidate for sale due to its location. Plus, the former operator was switching focus to other assets in its mutual portfolio. Purpose-built in 1982 with significant renovations in 2006, the 78-bed facility is in Brighton, a neighborhood of Boston. The 91%-occupied building benefits from its proximity to Boston Medical Center – Brighton, just one mile away. At the time of sale, revenues exceeded $10 million annually. Blueprint targeted both skilled nursing and behavioral health buyers. There were... Read More »
Development Company Acquires Through Membership Buyout
A Missouri-based real estate developer engaged Blueprint to facilitate its membership buyout of a joint venture partner. Brooks Blackmon, Ben Firestone and Lauren Nagle handled the transaction. Four years ago, the firm was brought on to raise capital, ultimately sourcing an institutional capital partner to develop a private pay seniors housing community in the St. Louis, Missouri MSA. The Class-A community, with more than 150 independent living, assisted living and memory care units, opened its doors in January 2024, stabilizing after the lease-up period. At the time of recapitalization, the asset was generating approximately $3.7 million of annualized EBITDAR with an operating margin over... Read More »
60 Seconds with Swett: Previewing Our Capital Markets Conversation
We know that the capital markets have made the biggest impact on M&A activity and property valuations in the last several years, changing the size of possible deals, the makeup of the properties sold and the buyers that could actually buy. Now that the capital markets have substantially improved and are getting better, barring a sudden and lasting trade war with China, how is the psyche of lenders, buyers and sellers changing in the senior care industry? What terms are now possible to refinance your seniors housing community? Are deals possible that did not pencil last year? Should sidelined sellers jump back into the M&A market? And how are growth strategies going to change in... Read More »
Seller Exits Seniors Industry with Divestment to REIT
A single-asset seniors housing owner is exiting the industry with the sale of their property in Murrieta, California. Built in 2016 and 2018, Renaissance Village Murrieta has 142 units of assisted living and memory care in three stories. It was operating just below 70% occupancy, so there is plenty of room for a new owner to improve performance and increase value to the community. That buyer was a REIT, which will be partnering with an established West Coast operator that has a growing presence in California. Brad Goodsell, Jason Punzel and Vince Viverito of Senior Living Investment Brokerage handled the transaction, continuing an incredibly active October for the firm. Read More »
Deal Closes Following Buyer Withdrawals
After a long process that saw multiple buyers pull out from the deal, the sale of Sarah Neuman Skilled Nursing Facility in Mamaroneck, New York, has closed with the help of Mark Myers at Kiser Group. Owned by a religious not-for-profit organization, The New Jewish Home, the facility features 301 beds and was losing money. Myers had previously facilitated the 2016 sale of the seller’s 744-bed SNF in The Bronx for $110 million and, earlier this year, the sale of a 300-unit independent living community on the same Bronx campus for $40.5 million. The transaction faced some hurdles, including a challenging financing environment and stringent regulatory requirements from New York State that... Read More »Schedule a demo
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