Blueprint Announces Two Deals in the Western U.S.
Two seniors housing deals were announced in the western United States by Blueprint Healthcare Real Estate Advisors, and neither buyer plans to keep operating the properties as seniors housing. Amy Sitzman, Giancarlo Riso and Ben Firestone kicked things off with the sale of an independent living community in the Southwest. Built in the late-1980s with a more recent renovation, the community features more than 130 units. The owner had invested significant equity into the physical plant, and operations were trending positively. They decided to sell the community to a multifamily company that had purchased another property of the seller’s in mid-2021, also with the help of the... Read More »
Tryko Partners Expands in Pennsylvania
In an effort to expand its greater Philadelphia real estate presence, Tryko Partners has acquired Attleboro Community, a 415-bed CCRC in Bucks County, Pennsylvania. Wilmac Corporation sold the 18-acre community, which has been rebranded as Oxford Enhanced Senior Living. The campus’ skilled nursing facility, Oxford Rehabilitation and Healthcare Center, has a five-star rating from CMS. This campus also includes an assisted living and memory care component, along with independent living apartments. Tryko has planned a significant value-add capital project for the property to bolster its appeal as a high-quality community. Oxford’s primary referral sources for sub-acute admissions... Read More »
Ventas Divests Atria Senior Living Portfolios
Ventas has sold a few portfolios of its Atria Senior Living-operated properties, with the deals closing just before the end of the year. Totaling 23 properties, these were mostly Class B, older vintage communities with some room for operational improvement, but perhaps Ventas also wants to diversify its tenant base a bit, especially after Atria’s massive growth in 2021. The portfolios total around 2,600 units. JLL Capital Markets’ Mike Garbers and Ted Flagg handled the divestments, while Joel Mendes handled the acquisition financing for the buyer. Starting in the Northeast, news trickled out in December that the REIT had sold six properties to Peregrine Senior Living and an affiliate of... Read More »
Not-For-Profit Buys Wisconsin Community
Christian Community Homes, a regional not-for-profit, added to its western Wisconsin portfolio with the acquisition of a 32-unit independent living community in Osceola for $2.7 million, or $84,400 per unit. Mark van den Broeke of Senior Care Realty handled the transaction on behalf of the family operator that had originally developed the community in 2000. Featuring all private units, the community was 88% occupied and operated at a strong 40% margin. It was the only property owned by the family, which exited the industry with this sale. Christian Community Homes, which owned another skilled nursing/assisted living facility in the area, paid $2.7 million, or $84,400 per unit, at a 9% cap... Read More »
Helios Healthcare Advisors Arranges Two Transactions
Helios Healthcare Advisors started 2022 by announcing a couple of transactions in the southern United States. First, Helios procured a Dallas-based owner/operator to operate an assisted living community in northern Texas. The prior operator was located out of state and experienced logistical difficulties operating this community. So, Helios arranged the third-party management transition on behalf of the owner, an investment firm based in San Francisco, California. Next, Helios arranged the sale of an 82-bed skilled nursing facility on behalf of Tri-State Health Services in Claiborne Parish, Louisiana. A new regional owner/operator was selected to take over the real estate and... Read More »Schedule a demo
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