Publicly Traded REIT Divests Stand-Alone Memory Care Community
Nick Stahler, Justin Knapp and Chad Mundy of the Knapp-Stahler Group at Marcus & Millichap were engaged by a publicly traded REIT in its divestment of a stand-alone memory care community in the Bay Area of California. Built in 1945 and renovated in 2009, the community comprises 22 units and underwent several management changes in the last few years, struggling to maintain profitability. After a confidential marketing process, the team procured several offers from local and regional owner/operators. There were two rounds of bidding, with the winning bidder selected due to its existing operations in the submarket and its capital stack. The purchase price was $4.5 million, or $204,500 per... Read More »
Georgia IL/AL Community Changes Hands and Receives Financing
CBRE Capital Markets completed the sale and financing of an independent living and assisted living community in the Atlanta, Georgia MSA. The community, Arbor Terrace Peachtree City, comprises 146 units in Peachtree City and includes a host of amenities. The buyer was GEM Realty Capital, a Chicago-based real estate investment company with over $6 billion in assets under management. John Sweeny, Aron Will and Garrett Sacco represented the seller. Will and Michael Cregan also arranged an acquisition loan via CBRE’s Freddie Mac Optigo lending platform. Read More »
JLL Secures Acquisition Financing for Two AL/MC Communities
JLL Capital Markets arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. Both communities were managed by Jaybird prior to the acquisition. The communities, Vintage Hills of Indianola and Country Meadow Place, total 118 units combined. Vintage Hills comprises 62 units in Indianola, Iowa, and Country Meadow Place is in Mason City, Iowa, with 56 units. Jeff Lepley and Alex Sheaffer of JLL handled the transaction, securing two loans totaling $17.87 million, or $151,000 per unit, representing around 81% of the total purchase price, putting the purchase price above $22.0 million, or $186,000 per... Read More »
Blueprint Facilitates Palmetto Portfolio Purchase
Blueprint facilitated the sale of five seniors housing communities in multiple cities throughout South Carolina on behalf of a court-appointed receiver and at the direction of the lender. Built in the late-1990s, these five communities comprise 334 assisted living and memory care units. Brooks Blackmon, Ryan Chase and Lauren Nagle handled the transaction and procured multiple offers from a series of owner/operators along the East Coast. The ultimate buyer of this regional cluster of assets with value-add upside was Spring Oak, a family office based in New Jersey. Read More »
Kansas AL/MC Community Changes Hands
Blueprint was engaged in the divestment of a seniors housing community in Abilene, Kansas. Blueprint previously worked with the seller in a separate 2023 transaction involving a similar Kansas asset. Abilene Place Senior Living was built in the early 1990s and was well maintained by current ownership, including a recent $400,000 capex investment. The community comprises 58 assisted living and memory care units across one story. We presume this was a former Enlivant property. Amy Sitzman, Giancarlo Riso and Kory Buzin handled the transaction. Blueprint procured multiple offers from active buyers for this sale, with a Kansas-based owner/operator that demonstrated a strong certainty of... Read More »Schedule a demo
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