SLIB Closes Transaction Trio
Senior Living Investment Brokerage reported a slew of closings in the last days of the third quarter. Starting in Arizona, the firm sold an assisted living/memory care community in Scottsdale, for an undisclosed price. Built in 1999 and renovated in 2017, the community has 96 units and was previously owned by a REIT looking to reinvest capital into its portfolio and into new acquisition opportunities. Meanwhile, the buyer is entering the Arizona market with the purchase, already with experience operating in Colorado. Vince Viverito and Brad Clousing handled the transaction. Next, Clousing and Daniel Geraghty worked on behalf of another REIT to sell an 118-bed skilled nursing facility... Read More »
Vincent Companies Acquires in Minnesota
Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Maplewood, Minnesota. Built in 2018, Elk Ridge comprises 50 memory care units and 66 beds across 34,491 square feet on 3.16 acres. The community will be rebranded as Boden Senior Living. The seller was a national developer looking to exit the state, with this being its only remaining seniors asset in Minnesota. The buyer was an in-state owner/operator looking to grow its footprint in Minnesota. The buyer, Vincent Companies, acquired Elk Ridge for $9.45 million, or $189,000 per unit. Lifespark will operate the community going forward. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson... Read More »
Strawberry Fields REIT Buys Tennessee Campus
Another family-owned skilled nursing business has exited the industry, with Evans Senior Investments handling the sale of Mabry Health Care in Gainesboro, Tennessee. Family-owned since its founding in 1979, the facility is located just 20 miles outside of Nashville. It originally focused on skilled nursing care, but the facility expanded its services in 2005 to include assisted living. Today, the facility comprises 108 total beds/units, including 80 skilled nursing beds and 28 assisted living beds across 16 units However, despite its longstanding presence in the community, Mabry Health was struggling with considerable challenges at the time it hit the market, with 71% occupancy and a... Read More »
Horizon Health Grows in Illinois
Haven Senior Investments facilitated the sale of a seniors housing community in Eastern Illinois. Willowbrook Senior Living was founded by a memory care specialist and registered nurse, with the community being designed with the needs of memory care residents in mind. Two Willowbrook buildings comprised of 24 units in Marshall were included in the transaction and will be rebranded as Willowbrook – Horizon Health, following not-for-profit Horizon Health’s entry into the seniors housing space. One of the buildings will be repurposed for medical offices and the other will continue to serve memory care residents. The local seller as operator is assisting with the transition as Horizon... Read More »
American Healthcare REIT Acquires All of Trilogy
Nine years after purchasing the majority interest in the parent company of seniors housing and care operator Trilogy Health Services, American Healthcare REIT has now bought out its minority partner, bringing its ownership stake in Trilogy to 100%. The deal was prefaced by a purchase agreement in November 2023, when AHR gained the option to buy NorthStar Healthcare Income’s 24% membership interest in Trilogy REIT Holdings, the parent organization of Trilogy Health Services, for between $240.5 million and $260 million, depending on the purchase date (they had until September 30, 2025). AHR also could use a combination of cash and the issuance of new convertible preferred stock. Executing... Read More »Schedule a demo
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