Prevarian Senior Living Divests Community in Oklahoma
JLL Capital Markets arranged the sale of Prairie House, a 105-unit assisted living/memory care community located in Broken Arrow, Oklahoma. Located on the Ascension St. John Broken Arrow campus, which is affiliated with Ascension St. John Hospital, the community was built in 2017 and has 73 assisted living and 32 memory care units. The seller, represented by JLL’s team, which was led by Managing Director Charles Bissell with support from Analysts Zach Brantley and Hope Brunner, was Prevarian Senior Living. The buyer was Wichita, Kansas-based Legend Senior Living, with Prairie House being Legend’s fourth Tulsa-area community and 11th community in the state. Managing Directors Chris Cain... Read More »
SLIB Announces Two More Seniors Housing Sales
Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage announced a couple of seniors housing closings in Georgia and Michigan, selling to two separate owner/operators. The Georgia deal involved a 77-unit assisted living/memory care community in the town of Buford in the outer ring of Atlanta suburbs. Built in 2012, the community was previously owned by a private REIT that had purchased the asset as part of a larger portfolio. However, it was an operational outlier and was slated for sale. A Florida-based owner/operator emerged as the buyer with a plan to invest in cosmetic upgrades to the community and improve overall performance through continued lease-up and expense... Read More »
New Active Adult Community Refinances Its Construction Debt
JLL Capital Markets arranged $47 million in financing for Amaranth at North Brunswick, an active adult community in North Brunswick, New Jersey, that was recently constructed. The community has 222 units, and experienced strong lease-up. It is a luxury community with amenities such as a demonstration kitchen, yoga room, dog park and dog day spa. To retire the property’s existing construction loan, Nuveen Real Estate provided the seven-year, fixed rate loan for the borrower, Kaplan Companies. JLL’s team was led by Michael Klein, Matthew Pizzolato and Michael Meisner. Read More »
Institutional Sellers Divest Three Tennessee Properties
Tennessee has been a popular acquisition destination in seniors housing in the last couple of months, with six deals featuring nine properties since mid-May. Brooks Blackmon of Blueprint Healthcare Real Estate Advisors took part in a couple of recent Tennessee transactions. He and Kyle Hallion teamed up on the sale of a 48-unit assisted living community in Chattanooga, working on behalf of a repeat institutional REIT seller. Originally built in 2000, the community had historically operated strongly and showed well. Blueprint conducted a targeted marketing campaign and received several competitive offers within 30 days of initial marketing. An undisclosed party acquired the property as part... Read More »
Blueprint Runs Receiver Sale of Chicagoland MC Community
Blueprint Healthcare Real Estate Advisors represented a court-appointed receiver in the sale of a Chicago-area memory care community. Located in Vernon Hills, the 70-unit community, called Springs of Vernon Hills, was only recently built in 2015. But after falling to 58% occupancy in 2021 following Illinois’ strict lockdowns, the community was placed into receivership. The Long Hill Company, a nationally focused turnaround management firm, was selected as the court-appointed receiver. Under its management, the community steadily rebuilt its occupancy, even returning to and surpassing historical occupancy levels. The community’s financial performance also demonstrated positive... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
