Equity Partnership Holdings Acquires in Texas
JLL closed the sale of a seniors housing community in the Dallas, Texas MSA. The seller was Clearworth Capital, and the buyer was Equity Partnership Holdings. David Austin, Rob Key, Greg Toro and Cole Murphy handled the transaction. Built in 2018, Firewheel Town Village comprises 154 units in Garland and stands four stories tall. The community consists of studio, one- and two-bedroom units. The occupancy rate at the time of the sale was 98.1%. Read More »
Struggling Community Sells in Georgia
Blueprint facilitated the sale of a seniors housing community in the Atlanta, Georgia MSA, on behalf of an institutional real estate and development firm. Built in 1996, the assisted living/memory care community comprises 61 units in Buford. It appears to be a former Brookdale Senior Living-operated community that was since managed by Charter Senior Living. Alex Florea and Kyle Hallion handled the transaction, which presented as a value-add opportunity in a desirable market. Initial occupancy was 73% and it was operating at a negative margin. It does not help that this area northeast of Atlanta was significantly overdeveloped in the mid-2010s, and that this asset, at nearly 30 years old,... Read More »
Joint Venture Acquires in Pennsylvania
A national investor partnered with Legend Senior Living to acquire a seniors housing community in Bucks County, Pennsylvania, after Legend had turned around operations at the location since taking over in March 2023. Opened in 2020, the community was built by a national developer/investor to include more than 100 units of assisted living and memory care. Despite an attractive physical plant, the community faced lease-up challenges after opening during the pandemic, and subsequent regulatory challenges throughout 2022 drove an operator transition, with Legend coming into that role. Looking at Legend’s Pennsylvania properties, this appears to be The Province of Southampton, or formerly The... Read More »
Focus Healthcare Partners On Acquisition Streak
One of the more active buyers of high-quality seniors housing assets announced a couple more acquisitions in the last month. Focus Healthcare Partners has so far acquired $200 million in assets this year to date, and has an approximately $100 million pipeline set to close before year end. First, in August, Focus bought The Summit of Blue Ash in Blue Ash, Ohio (Cincinnati MSA), from an institutional investor. Opened in 2022, the community featured 200 units of independent living (107 units), assisted living (61 units) and memory care (32 units). It was previously operated by Anthology Senior Living but reported occupancy in the low-50s at the time of closing. Evolve Senior Living will... Read More »
Owner/Operator Grows in the Southeast
Senior Living Investment Brokerage facilitated the sale of a personal care community in a highly desirable market in Forsyth County, Georgia. SLIB was engaged to solicit bids on behalf of the court-appointed receiver, GGG Partners. Built in 1997, Country Gardens Lanier features 41 assisted living units in Cumming. The community comprises 22,945 square feet and is situated on 1.85 acres. Occupancy was 71% at the time of closing, and it was operating just above breakeven. The buyer is a regional owner/operator that operates another asset within the county, which can help with expense efficiencies. The buyer purchased the community because it is looking to expand its growing footprint... Read More »Schedule a demo
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