Chartwell Acquires in Montreal
Chartwell Retirement Residences announced it entered into a definitive agreement to acquire Rosemont Les Quartiers, a CCRC in the Rosemont-La Petite-Patrie neighborhood of Montreal, for US$94.36 million, or US$149,000 per unit. The transaction is structured with US$90.2 million to be paid at closing and a deferred payment of US$4.16 million to be paid in three years. Closing is expected to occur Q1 2025. Rosement Les Quartiers is a phased project comprising 10, seven and six-story connected buildings on a 4.26 acre lot just east of downtown Montreal. Completed between 2016 and 2019, it offers 632 rental units catering to a range of preferences and care types. Read More »
Carnegie Capital Announces Q4 SNF Closings
JD Stettin of Carnegie Capital announced his fourth quarter financing activity, which included acquisition loans closed for four skilled nursing facilities in Texas. Two facilities were located in the northern part of the state, and the other two were near the Mexican border. They combined for 430 beds. Vintages varied, but the older facilities had recently received capex. The existing operator purchased the facilities from three different sellers for an average purchase price of $80,000 per bed. In the previous year, that operator had created significant value at the facilities relative to their long term lease rate. Each acquisition was funded separately through a combination of bridge... Read More »
Walton Street Affiliate Acquires in Texas
Berkadia completed the sale and financing of a Class-A seniors housing community in Austin, Texas. The independent living, assisted living and memory care community was built in 2016 and expanded in 2019. The community’s occupancy rate exceeded 95% at the time of sale with robust cash flows. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers represented the seller, Artemis Real Estate Partners. The property was acquired by an affiliate of Walton Street Capital LLC and will continue to be managed by Texas-based Civitas Senior Living. Austin Sacco, Steve Muth and Garrett Sacco secured acquisition financing through a national bank. The financing, which featured an attractive... Read More »
SNF Trades at High Per-Bed Price
JLL Capital Markets completed the $33 million sale of Coronado Ridge Skilled Nursing and Rehabilitation Center (formerly known as Horizon Ridge), a 121-bed/90-unit skilled nursing facility in Henderson, Nevada. The sale represents one of the highest prices per bed for a skilled nursing facility in Nevada history at $273,000 per bed. JLL’s Seniors Housing Capital Markets team, in conjunction with Managing Director Mark Winter, represented the seller, a joint venture between CREC Real Estate, LLC and The Calida Group. Built in 2017, Coronado Ridge stands two stories tall, sits on 2.3 acres and comprises 68,873 square feet. The facility is well-located to receive discharges from the... Read More »
Berry Weiss Acquires Long Island Portfolio
Jason Punzel, Dave Balow and Brad Goodsell of Senior Living Investment Brokerage facilitated the sale of an assisted living and memory care portfolio in the Long Island region of New York. Built between 1959 and 1974, the portfolio comprises four communities with a total of 567 units, 1,000 beds and 26.21 acres. There was a national marketing effort that procured a significant number of qualified offers. The ultimate buyer was downstate New York owner/operator/private investor, Berry Weiss. Weiss has many seniors housing communities under his ownership as well as other healthcare businesses. The seller was a public, non-listed REIT focused on seniors housing properties throughout the... Read More »Schedule a demo
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