REIT Divests Washington State Seniors Housing Asset
Blueprint’s Behavioral Healthcare and Seniors Housing Team worked together to sell a seniors housing asset in Bremerton, Washington, on behalf of its nationally recognized healthcare REIT owner. The property was identified as an ideal candidate for either a behavioral healthcare provider, based on strong demand and reimbursement in the state, or a strategic regional seniors housing operator that could use economies of scale in the region to turn around operations. So, Blueprint deployed a dual marketing campaign receiving offers from both behavioral and seniors housing operators. However, a large regional seniors housing operator, with which Blueprint has worked previously, ultimately... Read More »
Active Adult Community Trades in New York
CBRE arranged the sale and financing of an active adult community in Mount Sinai, New York. The seller was a joint venture between B2K Development, a Long Island-based real estate development group, and Harrison Street. Built in 2021 by B2K, Sutton Landing at Mount Sinai is a 225-unit community. This is the second of two properties, with the previous one being Sutton Landing at Deer Park that sold earlier in November. These two communities have 425 combined units. Aron Will, John Sweeny, Scott Bray, Jeff Dunne and Eric Apfel handled this transaction. There was significant interest in the offering, as active adult sales are comparatively rare in the area (and in today’s market). The... Read More »
Private REIT Divests Midwest Portfolio
Senior Living Investment Brokerage facilitated the sale of a seniors housing portfolio that consisted of three communities in Ohio and two in Indiana. The Ohio communities are located within 250 miles of each other, and the Indiana communities are located within 75 miles of each other. Together, they total 400 units and were built between 1983 and 2001. The portfolio was well maintained, as it underwent significant capex over the last few years. The seller, a Northeast-based private REIT, was divesting because these communities were geographic outliers and it wanted to shift focus to its core markets. The buyer, a regional owner/operator, was looking to grow its Midwest portfolio,... Read More »
Omega Sells Off SNFs
Omega Healthcare Investors sold three of its skilled nursing facilities located in the Tampa Bay, Florida region. Built in 1966, Lakeside Oaks Care Center comprises 27,509 square feet in Dunedin and sold for $8.05 million. Built in 1971, Habana Health Care Center in Tampa has 41,652 square feet and sold for $17.25 million. Built in 1997, Brandon Health Care and Rehabilitation in Brandon consists of 61,518 square feet and sold for $13.8 million. The buyer was New York-based Kinship Health, according to property records in Hillsborough and Pinellas counties. Earlier this year Kinship purchased two other skilled nursing facilities in Pinellas, the Living Center of St. Petersburg for around... Read More »
Blueprint Homes in on Ohio
Blueprint utilized its Ohio expertise to arrange the sale of a seniors housing campus in Port Clinton, Ohio, its 12th deal in the state this year, so far. Connor Doherty and Ryan Kelly represented one of the country’s largest not-for-profit organizations to sell the campus as part of their strategic move to redeploy capital and resources to other assets across the state. Set on 57 acres, Vineyard on Catawba was owned and operated by Ohio Living, which has 11 CCRCs in the state. The community was built in stages to now include a 40-unit low-income apartment complex, 12 assisted living units and 10 independent living condos. It was nearly fully occupied. Another not-for-profit, United... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
