Joint Venture Acquires California Facilities
At the end of a busy year of acquisitions, Stacked Stone Ventures announced one more on New Years Eve. The San Clemente, California-based real estate investment firm acquired two skilled nursing facilities in a joint venture with Praxis Capital for $8.25 million, or $43,200 per bed. The facilities feature a total of 191 skilled nursing and assisted living beds. They were added to an existing master lease with Accura Healthcare in Iowa. Oxford Finance helped fund the deal. The transaction caps an active year for Stacked Stone and Praxis, which together acquired 11 skilled nursing facilities, nine assisted living/memory care communities and one CCRC in 2025. The purchases totaled nearly $130... Read More »City of Wichita Issues Bond Financing
Ziegler successfully closed Larksfield Place’s $45.205 million Series 2025 bonds, issued through the City of Wichita, Kansas. Larksfield is a not-for-profit, single-site CCRC founded in 1988 in northeast Wichita. The 67-acre campus includes 22 independent living villas, 164 independent living apartments, 62 assisted living apartments, 10 memory care apartments and 80 private skilled nursing suites. Residents are offered an 80% refundable “Type C” entrance fee contract. Larksfield is significantly expanding its campus with the development of a four-story, 48-apartment independent living building known as “Larksfield Landing,” featuring under-building enclosed parking alongside additional... Read More »Receivership Sale of Standalone Memory Care Community Closes
Senior Living Investment Brokerage’s Southeast closings continued with the sale of Westminster Memory Care in Lexington, South Carolina. Built in 2020, the Class-A community features 48 units of memory care and high-end finishes. It is set on 6.3 acres, which provides an opportunity for expansion under new ownership. Also, at the time of the sale, the community was fully stabilized, so an expansion may be a good move. It was developed using bond financing, and the original owner was a Southeast-based developer. But the community was under receivership. The asset received significant interest from buyer groups, and the receiver seller, Trinity Investors, got more than eight qualified... Read More »
Active Adult Community Secures Freddie Mac Refinance
An active adult community in Hurst, Texas, paid off its existing bank debt with a Freddie Mac refinance arranged by Berkadia. Heritage Village Residences was built in 2014 with 120 units, including 10 cottages. It was part of multiple acquisitions over the years, first in 2020 when Edison Equity Management Corporation bought it for $23.3 million and invested approximately $500,000 in renovations. As a result of the property renovations, management was able to significantly increase in-place rents. Then, in December 2022, Edison Equity sold the property to an out-of-state buyer in an “off-market” process with a local broker who represented an out-of-state buyer with an existing Dallas-Fort... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »
Management Transfer Includes Purchase Option
A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the real estate of the campus. So, Giannini secured a long-term, triple-net lease with a new operating partner. The agreement included a purchase option. Read More »
Bank Provides Refinance to Family Office
BHI, the U.S. branch of Bank Hapoalim, provided a $29.0 million loan for the refinancing of an assisted living and skilled nursing facility in West Palm Beach, Florida. Gold Standard of Care Group, a Florida-based family office with a focus on healthcare and senior care and over $150 million in assets, was the borrower. Totaling 70,272 square feet, the property was originally built in 1995. Significant renovations were completed in 2023 and 2024. Amenities at the community include a salon, bistro, chapel, courtyard, concierge, game room, gym, library, transportation, lounges, private dining and a spa room. Colonial Assisted Living Management operates the facility. According to... Read More »
Owner/Operator Acquires Its Second Community
Unbridled Living, an owner/operator of independent living, assisted living and memory care communities across the United States, acquired its second seniors housing community, The Reserve at North Dallas. The Class-A community is in Dallas, Texas, with 247 independent living and 26 assisted living units. The building was in good shape, as the previous owner invested in capital improvements, and it was performing well. But there was still upside potential, with Unbridled Living planning to focus on improving operations, specifically dining and overtime, and increasing occupancy. The community will be rebranded as Unbridled Living of Dallas. This is the first investment made... Read More »
Not-For-Profit Sells Distressed SNF to Regional Owner/Operator
A not-for-profit seniors housing provider with a century-long legacy of serving seniors divested an underperforming skilled nursing facility in Marietta, Ohio. The non-core asset no longer aligned with the seller’s strategy. After a confidential marketing process, Connor Doherty, Ryan Kelly and Michael Segal of Blueprint identified a well-established regional owner/operator with a significant presence throughout Ohio to assume ownership and reposition the community. Despite the facility’s distressed performance, the transaction achieved a favorable outcome. Not-For-Profit United Church Homes announced the sale of The Harmar Place Community in Marietta to Foundations Health Solutions,... Read More »Schedule a demo
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