Newmark Handles Class-A Portfolio Deal
Newmark announced the sale of a seniors housing portfolio featuring assets spread across three states. Dubbed Project Stone, the four-community portfolio includes Class-A communities at irreplaceable locations in strong Ohio, Kentucky and Missouri submarkets. Together, they comprise 460 independent living, assisted living and memory care units. The communities had positive leasing and operating margin trends, as well as strong recent rental and care increases. The portfolio was being offered at a discount to replacement cost, but the purchase price was not disclosed. Read More »
Two ARFs Trade in California
Sherman & Roylance sold two Level-3 Adult Residential Facilities (ARFs) in Fresno County, California, representing a well-regarded, long-time owner-operator seller in the deal. Chris Minnery and Michael Belcher of S&R found a seasoned buyer eager to expand their portfolio and build upon the established legacy of care. The two ARFs, each housing six residents, have been operating since 2003 under the management of the original owner. The facilities have consistently enjoyed 100% occupancy. They sold for $1.09 million, or $90,800 per bed. Sherman & Roylance facilitated a seamless handover process, with all residents and staff remaining on board to maintain continuity of... Read More »
Haven Senior Investments Handles Kansas Closing
Haven Senior Investments facilitated the sale of two seniors housing communities in eastern Kansas that total 59 assisted living and memory care units. The purchase price was $3.4 million, or $57,600 per unit. The seller, MorningStar Care Homes, divested one of its seniors housing assets a few years ago and is now exiting the sector to retire with the divestment of these two communities. The communities were built in the mid-90s and are located about an hour apart. They are in good shape, with not much capex needed. Both struggled during the pandemic, but were stabilized at the time of sale with around 85% average occupancy and positive cash flow. They are mostly private-pay, with some... Read More »
Insignia Divests Georgia Standalone Memory Care Community
Senior Living Investment Brokerage facilitated the sale of a standalone memory care community in Alpharetta, Georgia, that benefits from strong on-site leadership and a great reputation in the local market. The seller, Insignia Senior Living, is selling its United States-based assets to focus on its core geographic markets in Puerto Rico and Latin America. Built in 1991 and renovated in 2016, Tapestry House Memory Care features 42 units across one story. The community sits on 1.93 acres in Fulton County and comprises 28,266 square feet. SLIB created a national, yet confidential market for this transaction. There were multiple offers from both regional and local buyers. The eventual... Read More »
Inspired Healthcare Capital Acquires in Texas
JLL Capital Markets arranged the sale of a Class-A seniors housing community in San Marcos, Texas. The seller was a joint venture between Bow River Capital and Investcor, and the buyer was Inspired Healthcare Capital. Built in 2020, Sage Spring Senior Living comprises 90 units of assisted living and memory care. The community was stabilized at the time of sale. Jay Wagner, Rick Swartz, Aaron Rosenzweig and Dan Baker handled the transaction. Read More »Schedule a demo
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