Minnesota Community Secures HUD Refinance
Sam Butler of the Fort Worth office of Colliers Mortgage closed a $24 million HUD loan for the refinance of The Pillars of Mankato in Mankato, Minnesota. Built in 2019, the community features 118 units across 146,138 square feet on 3.9 acres. There are 98 independent and assisted living units plus 20 memory care units. According to LevinPro LTC, The Pillars of Mankato was acquired at the end of 2023 by Tunbridge Peak LLC, an out-of-state real estate investment firm affiliated with Peak Capital Partners, that partnered with the in-place operator to manage the community. Jason Punzel, Jake Anderson, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the 2023... Read More »
EF Senior Care Expands its Footprint
EF Senior Care, an owner/operator based in Plymouth, Massachusetts, grew its long-term care portfolio this month, having acquired the operations of a senior care campus in Lawrence, Massachusetts. Built in 1895, Berkeley Retirement Home comprises 44 skilled nursing and independent living beds. Berkeley Retirement Home represents EF Senior Care’s fourth management contract in the past year, and brings its beds under management to nearly 500. Read More »
Solera Grows through Acquisition of SageLife
Solera Senior Living expanded its portfolio through the acquisition of SageLife. SageLife’s portfolio includes five high performing seniors housing communities in Maryland, Massachusetts and Pennsylvania. This acquisition brings Solera’s growing portfolio to 14 properties spanning nine states, including a growing concentration in the Mid-Atlantic. In conjunction with the acquisition, founder of SageLife, Kelly Cook Andress, will join Solera’s Advisory Board. The communities that are now under Solera’s management include Plush Mills (an independent and assisted living community in Wallingford, PA), Daylesford Crossing (an AL and memory care community in Malvern, PA), Village Crossing at... Read More »
Joint Venture Acquires Class-A Seniors Housing Asset in Texas
CBRE National Senior Housing acted as the exclusive advisor on the sale of a Class-A seniors housing community in the Houston, Texas MSA. Built in 2012, the community comprises 207 units offering independent living, assisted living and memory care services. CBRE National Senior Housing also arranged acquisition financing for the community on behalf of a joint venture between a national operator and an institutional equity partner. John Sweeny, Senior Vice President and Co-Head of CBRE National Senior Housing, and Aron Will, Vice Chairman and Co-Head of CBRE National Senior Housing, represented the seller in this transaction. The sales price is undisclosed. Will and Tim Root of CBRE... Read More »
Owner/Operator Acquires in Illinois
Evans Senior Investments arranged the sale of a supportive living community in the south suburbs of Chicago, Illinois. Waterford Estates totals 247 units with 170 independent living, 61 assisted living and 16 memory care units. The seller was a New York-based institutional owner seeking to recycle capital. Due to the scarcity of supportive living community transactions in Illinois, the offering generated significant interest from buyers. Following a competitive marketing process, the ultimate buyer was a growing owner/operator with an established footprint in the state. But the purchase price was not disclosed. Read More »Schedule a demo
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