Community First Solutions Acquires Again in Ohio
Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%, and was operating at a good margin, particularly for a small, higher acuity community. It was developed by Marquee Capital and has been operated by BrightStar Senior Living since opening. Community First Solutions, a leading not-for-profit healthcare organization, acquired the community (which will be rebranded as The Cottage of Mason),... Read More »
Joint Venture Acquires Nashville Active Adult Community
An active adult community in Germantown, Tennessee, found a new owner thanks to the team at Newmark. Built in 2020, Avenida Watermarq is a 161-unit, Class-A active adult community in an affluent suburb of Nashville. There are one- and two-bedroom options averaging 919 square feet per unit. Occupancy was 87%. Inspired Real Estate Partners and GEM Realty Capital acquired the property for $32.925 million, or $205,000 per unit, and will have Gallery Residential handle its management going forward. The community will also be rebranded as Lakeview at Germantown. Read More »
Institutional Owner Divests Ohio Facility
Evans Senior Investments arranged the sale of a skilled nursing facility in Ohio on behalf of an institutional owner looking to exit the market. The facility comprises 88 beds and 20 independent living units, which served as a referral source for the nursing home. The buyer was a regional owner/operator that is actively expanding in Ohio. This is its second acquisition in the state within the past seven months. Read More »
Strawberry Fields Completes Missouri SNF Portfolio Acquisition
Strawberry Fields REIT, Inc. announced that it completed the acquisition of nine skilled nursing facilities comprising 686 beds in Missouri for $59 million, or $86,000 per bed. The REIT completed the acquisition using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the facilities were leased to Tide Group and were added to the master lease the company entered into in August 2024. The master lease remained materially unchanged other than resetting the lease expiration for a new 10-year period and includes two five-year tenant options. Additionally, this acquisition increased Tide’s annual rents tied to its... Read More »
Bloom Exits South Carolina’s Seniors Housing Market
Kandu Capital, LLC, and its operating company, Bloom Senior Living, collectively known as Bloom, sold its final seniors housing community in South Carolina. The company is seeking realignment as it exits the state after a decade-long presence in the region. The 129-unit independent living and memory care community, which is in Bluffton, sold for $13.5 million on an initial investment of approximately $3 million. Occupancy was around 63% at the time of acquisition, but performance improved between LOI and closing, with monthly revenues increasing from between $250,000 and $260,000 to over $300,000 (or over $3.6 million annualized). NOI also trended up, from roughly breakeven to around... Read More »Schedule a demo
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