Blackstone Sells Wisconsin Asset
Newmark followed up on its closing of Carlisle Palm Beach with the sale of Harbour Village, a well performing seniors housing community in the Milwaukee MSA. Located in Greendale, Wisconsin, the community features 142 independent living, 38 assisted living and 44 memory care units separated across three buildings. The majority (82%) of IL units are two-bedroom apartments, and a plurality of AL units (40%) also have two bedrooms. The community was built from 1988 to 1999 and subsequently renovated in 2017 and 2024, with occupancy surpassing 90% as of October 2024. It also generated a near-40% operating margin. There are an additional 1.25 acres available for an expansion opportunity.... Read More »
Marcus & Millichap’s Recent Activity
Michael Mooney and Nick Stahler of the Knapp-Stahler Group at Marcus & Millichap sold a seniors housing community in Bellingham, Washington. Built in 1978, the community comprises 66 assisted living units and 70 beds. It was not stabilized, although there was some positive cash flow and occupancy was in the mid-80s. The deal was initially marketed more than a year ago, and Stahler and Mooney eventually secured the best bid from a regional operator with a pre-existing footprint in the Bellingham market. The improving capital markets, operating and M&A environments across that period helped push that final purchase price up, as well. No additional details were disclosed. In another... Read More »
Newland Realty Capital Closes First Deal
Newland Realty Capital, a healthcare real estate advisory and investment firm founded by Kayne Anderson veteran Max Newland in 2024, announced its first acquisition for a large community in Lantana, Florida. Known as Carlisle Palm Beach, the community was originally built in 1999 with 290 independent living, assisted living and memory care units. It has traded a few times over the years, passing from Starwood to AEW and more recently (in 2017 according to LevinPro LTC) to Bridge Investment Group. Since that acquisition, Bridge has invested in significant capex and had its affiliate Bridge Senior Living take over operations in 2023. It currently features 277 units, with a majority serving... Read More »
New Buyer Enters Seniors Housing
A privately held REIT focused primarily on private pay seniors housing communities throughout the U.S. engaged Blueprint in the sale of its seniors housing community in Bloomfield, Michigan. Michael Segal, Brooks Blackmon, Daniel Waldhorn and Lauren Nagle handled the transaction. Built in 2001 with significant renovations starting in 2015, the community features 81 independent living units and offers assisted living care services as well as respite stays. It appears to be Comfort Cove Premier Senior Living. Showcasing operational upside through occupancy improvement and rental rate growth, Blueprint’s process resulted in an attractive offer from a local home health care provider,... Read More »
Bull Realty Handles Georgia AL/MC Transaction
Ernie Anaya of Bull Realty handled the sale of a seniors housing community in Cartersville, Georgia. Built in 2021 on 8.83 acres, Tiger Lily Estates is an assisted living and memory care community that features 48 units across five buildings with 38,339 total square feet. The community additionally offers adult day care, licensed for 23 guests. The asset was vacant at the time of sale, and its zoning supports institutional uses including behavioral and substance abuse treatment facilities. Included in the sale are architectural work plans for Phase II to increase the size of the facility for an additional 31,940 square foot building with 49 units on 3.66 acres. The buyer and purchase... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
