Pegasus Senior Living Expands in Texas
Pegasus Senior Living took over management contracts for eight senior living communities in Texas and New Mexico. Previously operated by LifeWell Senior Living and developed by Pinpoint Commercial, the portfolio comprises 652 assisted living and memory care units. A small group of investors primarily based in Houston owns the communities. The transition is set to occur September 1, and LifeWell will still operate active adult communities after the transition. Pegasus now operates 43 senior living communities across 13 states, and its goal before the end of the year is to increase average occupancy to 90%. Read More »
Family Office Acquires Florida Seniors Housing Portfolio
Berkadia facilitated the sale of a four-property assisted living and memory care portfolio along Florida’s West Coast. Brooks Minford closed the transaction on behalf of two separate sellers. The buyer of all four properties, a Central Florida-based family office looking to expand its existing footprint, finalized the closings on July 23. The total purchase price was $42.55 million, or $127,400 per unit. In the first transaction, a Florida-based seniors housing and multifamily developer sold an early 2000s-build community comprising 59 assisted living and 20 memory care units. Occupancy was hovering around 85%, and it was stabilized at the time of the sale. The seller was divesting because... Read More »
Forest Facilitates Florida SNF Acquisitions
Forest Healthcare Properties handled two separate skilled nursing transactions in Florida. First, engaged by a regional owner/operator looking to exit the Tampa and Orlando MSAs, Forest helped facilitate the sale leaseback for a portfolio of seven SNFs. Built in 1980, the portfolio encompassed 866 beds with an occupancy rate above 90%. At the time of sale, the portfolio was not stabilized. The buyer was a regional owner/operator with a presence in Georgia and North Carolina and was looking to expand into Florida. Jeffrey Vegh and Joe Schiff handled the transaction, which involved the approval of three different banks due to the existence of three separate loans. Interest in the... Read More »
The Zett Group’s Summer Surge
The Zett Group, a brokerage firm focused on the Pacific Northwest, has hit a rich vein of activity, closing four separate transactions in recent weeks. Blake Bozett handled the transactions, with even more deals to be announced soon. First, built in 2006, Streamside Assisted Living and Memory Care features 79 assisted living and memory care units in Nampa, Idaho. It was stabilized at the time of sale. The seller was Ohana Ventures, and the buyer was Titan SenQuest, which was looking to expand its footprint within the state. The transaction navigated through various fire, life and safety needs that arose from the licensure inspection. Upon securing the listing agreement, Bozett made one... Read More »
StoryPoint Acquires in Michigan
Alex Vice, Josh Jandris and Thomas Falkenberg of Walker & Dunlop facilitated the sale of two seniors housing communities in Oakland County, Michigan, which included Blossom Ridge (Rochester) and Blossom Village/Blossom Springs (Oakland Charter Township). In total, the communities encompass 245 units: Blossom Ridge features active adult, independent living and assisted living units whereas Blossom Village and Blossom Springs offer assisted living and memory care units. Built in 2019 by the Moceri family, the combined assets have been rebranded as the Flourish Collection by StoryPoint Group and will be added to StoryPoint Senior Living’s portfolio of seniors housing communities that... Read More »Schedule a demo
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