Jaybird Senior Living Enters Texas
Evans Senior Investments arranged the sale of a seniors housing community in the Dallas-Fort Worth, Texas MSA. Built in 2013, Sonoma House Assisted Living comprises 33 assisted living units and 63 memory care units across seven cottages in Carrollton, Texas. At the start of marketing, the community was 82% occupied and generating positive net operating income. ESI identified multiple value-add opportunities, such as an opportunity to increase rental rates and reduce operational costs with a regional or national owner, as well as the potential to expand the community by adding 16 additional units through future development. The result was six competitive bids, with the ultimate buyer being... Read More »
Acquirer Expands Through Lease-to-Purchase in Ohio
Blueprint was engaged by an established owner seeking a desire to divest its skilled nursing facility in Ohio. Originally constructed in 1920 as the original site of McKinley High School, the facility was converted to skilled nursing in 1984. The facility suffered from low Medicaid reimbursement rates, and it was struggling from an occupancy standpoint. Connor Doherty and Ryan Kelly handled this transaction, structuring an off-market lease with a purchase option with an acquirer seeking to expand its presence in northeast Ohio. The structure protected ownership’s downside while granting the incoming operator, and eventual purchaser, operational runway to access debt by stabilizing... Read More »
Long-Time Senior Living Owner Acquires in Indiana
Berkadia facilitated the sale of a seniors housing community in the Indianapolis, Indiana MSA. The seller was S-K Fishers, LLC, an entity managed by the principals of SRC, LLC. While the ultimate buyer was a long-time owner of senior living campuses that was selected due to its proposed pricing and deal structure. Built in 2014, Meadow Brook Senior Living features 92 units of assisted living and memory care in Fishers, Indiana. It is a well-maintained asset with high-quality construction, finishes and furnishings. The community also averaged 95% occupancy over the past year. Cody Tremper, Dave Fasano, Ross Sanders and Mike Garbers handled the transaction. It was a competitive marketing... Read More »
Two Seniors Housing Communities Secure Acquisition Financing
CBRE arranged acquisition financing for two seniors housing communities in Houston, Texas, on behalf of Bridgewood Property Company. The Aspenwood Company, Bridgewood’s wholly owned management platform, will continue to manage the communities. Aron Will and Michael Cregan originated the $25 million, three-year floating rate loan with full-term interest only via a regional bank. Built in 2015, The Village of the Heights sits on 1.75 acres and comprises 103 assisted living and memory care units. Built in 2013, The Village of Meyerland features 125 assisted living and memory care units on 3.11 acres. Read More »
Saint Therese Expands in Ohio
Saint Therese announced it will acquire a seniors housing community in the Cleveland, Ohio MSA, with the transition of ownership expected to occur December 1. This announcement comes after Saint Therese divested a seniors housing community in Minnesota earlier this year. This is also the second acquisition for Saint Therese in two years and its second in the region, following the purchase of a seniors housing community in Michigan last year. Built in 2005 by another Catholic not-for-profit, St. Mary of the Woods is a 179-unit CCRC with 81 independent living units, 49 assisted living units and 50 skilled nursing beds. The five-star campus sits on 25 acres with six acres zoned for... Read More »Schedule a demo
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