KIRCO and Everbrook Senior Living Acquire Arbors of Stoughton
Cushman & Wakefield arranged the sale of the Arbors of Stoughton, a 91-unit assisted living/memory care community in Stoughton, Massachusetts, about 20 miles south of downtown Boston. Richard Swartz, Jay Wagner and Jim Dooley represented the seller, the Gralia Group of East Longmeadow, Massachusetts, and its institutional capital partner, in the transaction. The community opened in 2009 and had seen occupancy decline during the pandemic. So, the property provided a value-add opportunity to the buyer through capital improvements and continued lease up. It consists of a three-story building with a large interior courtyard connected to the first-floor amenity spaces. The assisted living... Read More »
Inspired Healthcare Capital Acquires in South Florida
Following last week’s acquisition of an independent living community in Oregon, Inspired Healthcare Capital has made another purchase across the country in Delray Beach, Florida. The latest target was Grand Villa of Delray Beach West, a 225-unit community with independent living, assisted living and memory care services. It was built in 1984 and renovated in 2013, so some additional upgrades may be needed. Operations were strong, with high margins and occupancy hitting 92% at the time of the deal. Newmark represented the seller, Valstone Partners, in the deal, having represented Valstone in two other “Grand Villa” dispositions in Florida in 2022. Inspired Healthcare Capital bought those... Read More »
Inspired Healthcare Capital Makes Another Acquisition
Following a year in which it made 12 seniors housing acquisitions, Scottsdale, Arizona-based real estate investment fund and DST sponsor Inspired Healthcare Capital acquired an independent living community in Oregon. This is the firm’s second deal of the year, so far. Built in 2014, Crescent Park is a three-story, 116,000-square-foot community with 119 units. It offers a mix of studio, one-bedroom and two-bedroom units, high-quality amenities and scenic views. The seller was an investment management firm focused on alternative assets, including seniors housing, that had acquired the property when it was underperforming. Now, the community is stabilized, and the seller decided to exit to... Read More »
PEF Advisors Acquires The Village at Arvada
Preservation Equity Fund Advisors (PEF Advisors), a real estate private equity group focused on preserving existing affordable housing in high-cost markets, acquired The Village at Arvada (formerly known as Columbine Village), a 232-unit community in Arvada, Colorado. The property is PEF Advisors’ third community in Colorado, following the acquisition of two Fort Collins seniors apartment complexes in 2022. The Village at Arvada comprises three three-story buildings and one four-story building, each with a community room, library, beauty salon, fitness center, game room, on-site laundry facilities, elevators and courtyard with BBQ areas. There are also computer rooms in three of the four... Read More »
Atlas Senior Living Acquires The Claiborne at Adelaide
Atlas Senior Living is growing its southeast portfolio with the acquisition of The Claiborne at Adelaide in Starkville, Mississippi. Opened in 2016 with 82 units of independent living, assisted living and memory care, the community was 96% occupied at the time of the sale. It was last acquired in 2018 by the multifamily real estate investment firm Waypoint Residential, which was Waypoint’s first acquisition of an existing seniors housing community. That came at a price of $22.7 million, or $276,800 per unit. The current purchase price was not disclosed, although Atlas assumed the existing Freddie Mac debt on the property, and Newmark represented Waypoint in the transaction. Atlas now... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
