The Walker & Dunlop Seniors Housing team is off to a strong start for Q4, having closed three transactions, so far. The deals were across the swing states of Wisconsin, Pennsylvania and Georgia. The first closed in October, and the following two closed in November.
First, Alex Vice, Joshua Jandris and Brett Gardner handled the sale of a standalone memory care community in the Milwaukee MSA. The community comprises 65 beds in Brookfield, Wisconsin. The seller was a national owner/operator and the buyer was a local owner.
Next, Vice, Jandris, Gardner and Nick Hall facilitated the divestment of a CCRC in Phillipsburg, Pennsylvania. The community comprises 90 skilled nursing beds, 18 personal care units and five independent living units. It was previously owned and operated by Presbyterian Senior Living, a not-for-profit that had owned and operated the community since 2003, and was acquired by Continuum Healthcare, a large skilled nursing owner/operator with facilities in New Jersey, Pennsylvania, Wisconsin and Ohio.
Last (for now), Jandris, Gardner and Tom Falkenberg closed a transaction involving two assisted living/memory care assets in the Atlanta, Georgia MSA. Mansions at Gwinnett Park in Lawrenceville, Georgia, and Mansions at Sandy Springs in Peachtree Corners, Georgia, comprise 183 units. The two communities were acquired by Sonida Senior Living for $29 million, or $159,000 per unit. This transaction brings Sonida’s total acquisitions in 2024 to 19 properties.
