Marcus & Millichap’s Recent Activity
Michael Mooney and Nick Stahler of the Knapp-Stahler Group at Marcus & Millichap sold a seniors housing community in Bellingham, Washington. Built in 1978, the community comprises 66 assisted living units and 70 beds. It was not stabilized, although there was some positive cash flow and occupancy was in the mid-80s. The deal was initially marketed more than a year ago, and Stahler and Mooney eventually secured the best bid from a regional operator with a pre-existing footprint in the Bellingham market. The improving capital markets, operating and M&A environments across that period helped push that final purchase price up, as well. No additional details were disclosed. In another... Read More »
Newland Realty Capital Closes First Deal
Newland Realty Capital, a healthcare real estate advisory and investment firm founded by Kayne Anderson veteran Max Newland in 2024, announced its first acquisition for a large community in Lantana, Florida. Known as Carlisle Palm Beach, the community was originally built in 1999 with 290 independent living, assisted living and memory care units. It has traded a few times over the years, passing from Starwood to AEW and more recently (in 2017 according to LevinPro LTC) to Bridge Investment Group. Since that acquisition, Bridge has invested in significant capex and had its affiliate Bridge Senior Living take over operations in 2023. It currently features 277 units, with a majority serving... Read More »
New Buyer Enters Seniors Housing
A privately held REIT focused primarily on private pay seniors housing communities throughout the U.S. engaged Blueprint in the sale of its seniors housing community in Bloomfield, Michigan. Michael Segal, Brooks Blackmon, Daniel Waldhorn and Lauren Nagle handled the transaction. Built in 2001 with significant renovations starting in 2015, the community features 81 independent living units and offers assisted living care services as well as respite stays. It appears to be Comfort Cove Premier Senior Living. Showcasing operational upside through occupancy improvement and rental rate growth, Blueprint’s process resulted in an attractive offer from a local home health care provider,... Read More »
Bull Realty Handles Georgia AL/MC Transaction
Ernie Anaya of Bull Realty handled the sale of a seniors housing community in Cartersville, Georgia. Built in 2021 on 8.83 acres, Tiger Lily Estates is an assisted living and memory care community that features 48 units across five buildings with 38,339 total square feet. The community additionally offers adult day care, licensed for 23 guests. The asset was vacant at the time of sale, and its zoning supports institutional uses including behavioral and substance abuse treatment facilities. Included in the sale are architectural work plans for Phase II to increase the size of the facility for an additional 31,940 square foot building with 49 units on 3.66 acres. The buyer and purchase... Read More »
Elevation Financial Group Acquires in Texas
Elevation Financial Group announced the acquisition by Elevation Real Property Fund VIII of Reunion Court of Kingwood in Houston, Texas. The asset was acquired for $7.25 million, or $38,000 per unit. Built in 2000, Reunion Court of Kingwood comprises 120 independent living, 42 assisted living and 28 memory care units. Elevation will repurpose the independent living building into senior apartments and the community will be rebranded as King’s Preserve at Kingwood. The capital expenditure plan includes a new secured access and camera system, repairs to HVAC systems, sidewalk and parking lot improvements and fresh paint. The previous owner, a large private equity group, infused a... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
