Grandbridge Works on Lifespace Communities Acquisition
Grandbridge Real Estate Capital’s Senior Housing Investment Sales team has successfully arranged the sale of a three-property CCRC portfolio in Texas. The 664-unit portfolio consisted of independent living, assisted living, memory care and skilled nursing units with both entrance fee and rental structures. They include Wesley Court in Abilene, The Craig in Amarillo and Meadow Lake in Tyler. The Tampa-based Grandbridge team led by David Kliewer and Jay Jordan, in partnership with San Diego-based David Rothschild, represented the seller, Dallas-based private equity firm RSF Partners, in a joint venture with Evergreen Senior Living Properties, LLC and its affiliated manager ER Senior... Read More »Blueprint Capital Markets Finances Lloyd Jones Acquisition
We recently learned that Blueprint Healthcare Real Estate Advisors not only represented the REIT owner of an Indiana community that it sold, but Blueprint Capital Markets, run by Alex Florea, secured acquisition financing for the buyer, Lloyd Jones. Rittenhouse Village of Valparaiso, a 90-unit assisted living/memory care community built in 2009 in Valparaiso, Indiana. The property appears on National Health Investors’ most recent property list, with Discovery Senior Living serving as the operator/lessee, revealing NHI as the seller in this transaction. The historically profitable community was negatively impacted by the pandemic but started to rebound operationally. Blueprint Capital... Read More »Fortress Investment Group Acquires Scottsdale Property
CBRE National Senior Housing arranged the sale and acquisition financing for Andara Senior Living, an independent and assisted living community in Scottsdale, Arizona. This transaction was CBRE’s third financing of the community, having previously arranged acquisition financing on behalf of the current seller (real estate investment firm Reliant Group) in 2012 and an agency refinance in 2018. Reliant decided to turn over its asset into the hands of a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Built in 2010, the community consists of 170 total units spread across a campus of two, three-story residential wings interconnected by a covered walkway. Through... Read More »Primrose Senior Living Sells Four-State Portfolio
The Primrose Retirement Communities Portfolio consisting of four independent and assisted living communities has been sold to an undisclosed public REIT and a regional private equity group. The portfolio comprises 351 total units (199 IL and 152 AL) and is spread out across four states: Colorado (Pueblo), Indiana (Kokomo), Oklahoma (Stillwater) and Wyoming (Cheyenne). Built between 2008 and 2013, the seller Primrose Senior Living decided to divest these assets with the intention of recapitalizing, paying off investors, and establishing a new capital relationship. Primrose remained as the portfolio’s operator as well. Each community maintained above-average occupancy levels throughout... Read More »Parentis Health Acquires Quality Life Homes
Parentis Health has acquired Quality Life Homes, a small senior living portfolio of five communities in Laguna Niguel, California. Parentis Health will be adding this portfolio into its Verona Court portfolio of senior residential care properties. Verona Court will now operate 16 senior care facilities with this latest acquisition.The seller of Quality Life Homes is Dawn Sather, who started her business in 1991 with her husband. After he passed away in 2021, Dawn made the decision to sell the company and ultimately chose Parentis Health as the buyer because of the similar model that Verona Court has in place. With six beds per home and three or fewer patients per caregiver, its staff will... Read More »Schedule a demo
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