Meridian Capital Group Closes Slew of Transactions
Meridian Capital Group’s Senior Housing and Healthcare team closed $580 million in transaction volume over the course of the summer, bringing their year-to-date total to nearly $3 billion in 2022. These transactions were negotiated by Meridian’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson. The recent transactions include a $115.2 million acquisition loan from a commercial bank in addition to a $15 million A/R line for 10 SNFs with 1,112 beds in California, a $69 million loan from a commercial bank in addition to a $2 million A/R line for the acquisition of one facility and the refinance of two facilities totaling 468 skilled nursing beds in New Jersey,... Read More »Cushman & Wakefield Recapitalizes Walnut Creek Community
Cushman & Wakefield announced that they have arranged the recapitalization of Byron Park in Walnut Creek, California on behalf of a joint venture between Kisco Senior Living and an institutional investor. The senior living community comprises 187 units of independent and assisted living and sits on three acres in the greater San Francisco area. It will continue to be managed by Kisco Senior Living, who will maintain operations under the new ownership by an institutional real estate owner. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handled the transaction. Earlier this month, Kisco Senior Living, in a joint venture with Welltower,... Read More »Inspirit Senior Living and Venue Capital Add Another Knoxville Community
Inspirit Senior Living and Venue Capital expanded their joint venture together, adding a third community in the Knoxville, Tennessee area in just a matter of months. According to Levin Pro LTC, earlier this summer in June, Inspirit and Venue acquired two assisted living communities in Knoxville and Powell: a 62-unit assisted living community renamed Rain Forest Landings and a 40-unit assisted living community renamed Emory Ridge, respectively. The joint venture’s most recent Knoxville acquisition is the assisted living community Windsor Ridge. Built in 2000, it comprises 62 units and 70 beds on 3.7 acres with units ranging from 330 to 427 square feet. The community is located near another... Read More »Capital Real Estate Group Handles Michigan Closing
Capital Real Estate Group’s U.S. Healthcare Investment Sales practice announced the sale of a two-property senior housing portfolio consisting of 139 total units in central Michigan. Both communities were built in 2016, and the portfolio’s apartment mix consists of 88 assisted living, 33 independent living and 18 memory care units. The two communities are located adjacent to one another and sit on a total of 13.5 acres. In the last few years, the communities have held a steady occupancy rate of over 80%, making them an attractive opportunity to the ultimate buyer, a publicly-traded REIT for a purchase price of $32.5 million, or $233,800 per unit. Andrew Larwood and Allen Inman of Capital... Read More »Assisted living Community Sells in Minnesota
Bob Richards of Senior Care Realty closed the sale of a small assisted living community in northern Minnesota. A local provider that manages other facilities in the area had operated the property since before the pandemic and finally exercised its lease option for a price of $925,000, or $46,250 per unit. Built in 2005, the 20-unit community cares for a combination of private pay and managed care residents. RWR Realty LLC was the broker of record, and the community was marketed by Senior Care Realty. Read More »Schedule a demo
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