Not-For-Profit Expands in Virginia
The not-for-profit Pinnacle living is adding two seniors housing communities in Henrico, Virginia, to its portfolio. The previous operator was Spring Arbor Senior Living. Spring Arbor of Richmond has 90 assisted living and memory care units. Spring Arbor Cottages of Richmond totals 48 assisted living and memory care units. It features a small house model with three buildings, each comprising 16 homes. This expands Pinnacle’s Virginia portfolio from four to six communities. Read More »
Ziegler Tackles Three Transactions
Ziegler facilitated the sale of three transactions on behalf of not-for-profit sellers. First, a skilled nursing portfolio in Northern Ohio was sold to a for-profit buyer. Next, in a two-part transaction, a not-for-profit in Tennessee sold two CCRCs to another not-for-profit (through an affiliation) and divested the SNF portion of one campus to a for-profit buyer. The seller of the skilled nursing portfolio in Northern Ohio was a not-for-profit dedicated to providing affordable housing, healthcare and supportive services. This was its only healthcare asset in the state. The portfolio comprised three buildings consisting of 182 skilled nursing beds and 24 behavioral health beds. One... Read More »
Focus Healthcare Partners Set for Growth, Again
A familiar buyer is set to be very busy in the next year of seniors housing M&A activity, as Focus Healthcare Partners has closed on its Focus Senior Housing Fund II LP and raised approximately $370 million in capital commitments for it. The closed-end, commingled discretionary real estate fund will target private pay seniors housing assets across active adult, independent living, assisted living and memory care, but no stand-alone memory care. Campuses with a full continuum of care would be the most attractive, too. The fund is 20% larger than its predecessor vehicle, which raised $312 million in 2017 from seven institutional investors. Fund II, by contrast, drew from 15 different... Read More »
Inspired Healthcare Acquires Class-A Community in Texas
Berkadia facilitated the sale of a Class-A seniors housing community in New Braunfels, Texas. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders handled the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties. The buyer was Scottsdale, Arizona-based Inspired Healthcare Capital. Built in 2021, The Blake at New Braunfels features 71 assisted living and 41 memory care units. The community has maintained consistently high occupancy and strong NOI. It is also just one block from the Resolute Baptist Hospital, which offers a full range of services as well as emergency care and a Level II NICU. Inspired is creating a new... Read More »
Dwight Capital Finances SNF Portfolio Deal
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in prime Southeast urban markets in Georgia (Atlanta), Tennessee (Memphis), Alabama (Mobile) and Louisiana (Shreveport). The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing. Altogether, the facilities total 1,371 beds. Adam Offman handled this transaction... Read More »Schedule a demo
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