Bloom Senior Living/Kandu Capital Shifts Focus to Seniors Housing
Bloom Senior Living has overseen a tremendous occupancy recovery across its seniors housing assets, which we profiled last week, and its family office owner Kandu Capital have decided to focus on that sector while divesting their remaining legacy skilled nursing and mental health/psychiatric facilities located throughout California. The sales included a 255-bed skilled nursing/special treatment program facility in Santa Ana, the leasehold in an 80-bed mental health rehabilitation center in Mission Viejo, and a 45-bed skilled nursing/special treatment program facility in Los Angeles. The collective purchase price was $70.7 million on initial investments of approximately $9 million.... Read More »
Newmark Sells The Preston of the Park Cities
The team at Newmark has kept a steady stream of closings coming amid the capital markets upheaval of the last month and just announced the sale of a 134-unit assisted living/memory care community in Dallas, Texas. The Preston of the Park Cities was built in 2018 in the desirable neighborhood of Park Cities. Silverstone Senior Living developed it, initially bringing in Harbor Retirement Associates to operate before switching to Watermark Retirement Communities in 2019. Occupancy never reached full stabilization before the pandemic and stood at just 75% at the time of closing. The Newmark team had some history at this property, as Ryan Maconachy, Chad Lavender and Sarah Anderson helped to... Read More »
Debt Issues Don’t Stop Portfolio Deal from Closing
The difficult debt markets didn’t stop MED Healthcare Partners from acquiring a portfolio of three assisted living/memory care communities in Georgia thanks to their use of an all-equity capital structure to finance the purchase. Located in secondary markets around an hour outside of Atlanta, Georgia, the small, 1990s-vintage communities totaled 156 units and were not stabilized at the time of closing. However, operations were improving throughout the sale process and the middle-market portfolio was well-positioned to capitalize on the strong demand for more affordable senior care within their respective local markets. Blueprint Healthcare Real Estate Advisors generated three... Read More »
Invesque Inches Closer to SNF Exit
Invesque released its fourth quarter and full-year 2022 earnings, and announced that it is making progress in its refocus towards a private pay, seniors housing portfolio. During the fourth quarter and subsequent to year-end, Invesque sold or entered into a purchase and sale agreement for two medical office buildings for a combined $12.03 million. With the sales, which included Brantford Medical Center in Brantford, Ontario and MetroWest Medical Center in Orlando, Florida, Invesque exited the Canadian MOB market and has two MOBs remaining in the United States. Plus, sales of two remaining MOBs are expected to occur over the next few months. In addition, Invesque entered into a purchase and... Read More »
The Mogharebi Group Closes Seniors Housing Sale
A Los Angeles-based private real estate investment group acquired a 284-unit seniors housing community in Wildomar, California, from Craig Thralls, a local developer. The Mogharebi Group represented Mr. Thralls in the transaction. An entity linked to Positive Investments was the buyer. Built in 2000, Wildomar Senior Leisure Community features 178 independent living and 108 assisted living units. It was fully occupied with a number of units reserved for low-income seniors. The sale involved two separate properties on separate parcels of land, each with their own ground leases. The Mogharebi Group worked with multiple government agencies and around several rent restrictions, and managed to... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
