The Fellowship Family Grows in Georgia
Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage facilitated the sale of LaGrange Heritage Senior Living, a 100-unit independent living, assisted living and memory care community in LaGrange, Georgia. Built in 2021 on 14.10 acres, the property is best in class within the local market. It is immediately adjacent to LaGrange Heritage, a Publix, Starbucks, Chick-fil-A and a new apartment complex recently opened in late 2023. That helps boost visibility to the community. The seller is a Georgia-based developer, and the buyer is The Fellowship Family and its institutional capital provider partner. The Fellowship Family intends to improve marketing efforts to boost... Read More »
Joint Venture Acquires High-Quality Asset Near Philly
Alex Florea, Steve Thomes, Kevin Lukehart and Kory Buzin of Blueprint were engaged by a national private equity investor in its divestment of a Class-A, newer-vintage seniors housing community in King of Prussia, Pennsylvania. Built in 2021, the high-rise community offers 190 independent living, assisted living and memory care units. Despite the modern physical plant and desirable sub-market, the community was not stabilized at the time of sale. That makes for an attractive turnaround opportunity that likely drew a healthy bidding environment. Blueprint targeted a subset of experienced and well capitalized investors, owner/operators and REITs and received multiple all-cash offers from a... Read More »
Meridian Senior Living Enters Colorado
JLL Capital Markets completed the sale of Pine Grove Crossing, a 127-unit assisted living and memory care community in Parker, Colorado. Built in 2018, Pine Grove offers 100 AL and 27 MC units in a three-story building across 4.41 acres. At the time of sale, it was 90% occupied. The seller was a real estate private equity group, while an affiliate of Meridian Senior Living purchased the community in a joint venture with a state pension fund institutional investor. The plan is to implement capital improvements to enhance resident amenities, including upgrading dining areas and outdoor spaces. Meridian now operates more than 46 seniors housing and care properties in 16 states.... Read More »
Legend Senior Living Acquires in OK and Secures Financing
Berkadia Seniors Housing & Healthcare facilitated the sale and financing of a 90-unit assisted living and memory care community in Edmond, Oklahoma. Built in 2016, the community features 58 AL and 32 MC units and is among the newest seniors housing communities within the Oklahoma City market, which has seen minimal new development over the past four years. The buyer was Legend Senior Living, which will rebrand the community as Legend of Edmond. It was formerly known as StoneCreek of Edmond Assisted Living and Memory Care. Cody Tremper, Dave Fasano, Ross Sanders and Mike Garbers of Berkadia represented the seller, StoneCreek Real Estate Partners. Rafael Nobo and Alex Rosenfeld of... Read More »
SLIB’s Recent Activity
Senior Living Investment Brokerage announced a couple of closings involving older assisted living communities. First, Daniel Geraghty, Bradley Clousing and Dave Balow represented a Northeast-based owner that was looking to recycle capital and focus on its core assets. It chose to divest Brookside Stone Mountain, a 40-unit assisted living/memory care community in Stone Mountain, Georgia. Built in 1995 and renovated in 2016, the community features an outdoor courtyard with walking paths as well as an outdoor garden area. Occupancy was around 73% based on units, and the community was operating close to breakeven at the time of the sale. SLIB had previously sold this asset two separate times... Read More »Schedule a demo
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