Florida Panhandle Assets Sell
Berkadia Seniors Housing & Healthcare closed its third and fourth transactions in the Florida panhandle over the past three months. First, Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano represented the seller of Seagrass Village of Panama City Beach. The 128-unit Class-A community opened in 2019 and offers both independent living apartments and villa homes on a 16-acre site in Panama City Beach, Florida. The seller was an Orlando-based private equity company, and the buyer was a seniors housing owner. The property will continue to be managed by SRI Management. Next, the team sold American House Bluewater Bay, a 94-unit independent living community in Niceville, Florida,... Read More »
Blackstone Sheds Another Asset from Its Seniors Housing Portfolio
Blueprint handled a couple of sales in Florida and Nevada. The first in Florida involved a global private equity firm selling a 145-unit assisted living and memory care community in Boca Raton, Florida. Ben Firestone, Dillon Rudy and Jacob Ghel of Blueprint facilitated The Atrium at Boca Raton’s ownership transfer. The community presented certain physical plant challenges, but it still offered in-place value, having stabilized above 90% occupancy as recently as 2024 and generating strong cash flow. The asset’s combination of attractive historical performance, premier location and long-term repositioning was appealing to prospective buyers. The targeted marketing campaign generated more... Read More »
CareTrust REIT Establishes SHOP Platform
Three Texas seniors housing communities with 270 assisted living and memory care units were acquired by CareTrust REIT, Inc. The publicly traded REIT purchased the communities for $40 million, or $148,100 per unit. This marks the first investment of CareTrust’s SHOP platform. The communities were 86% occupied at the time of acquisition and will be managed by affiliates of Sinceri Senior Living. The acquisition was funded with cash on hand, and the company expects the portfolio to deliver a going-in yield of approximately 7%. The company now has three avenues to grow, with its SHOP, U.S. skilled nursing and U.K. care home investment platforms. Read More »
Ensign Grows Through Separate Transactions in Three States
The Ensign Group, Inc. increased its portfolio through three separate acquisitions in Kansas, Arizona and Colorado. The publicly traded provider expanded its growing Midwest footprint through its Kansas acquisition of the real estate and operations of Willow Point Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Kansas City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and the facility is operated by Gateway Healthcare LLC, Ensign’s Kansas-based subsidiary. In another transaction on the same day, Ensign acquired the operations of Santa Rosa Care Center, a 144-bed skilled nursing... Read More »
Developer/Operator Divests to PE Firm
A developer and operator sold Rivertown Ridge, a Class-A seniors housing community in the Grand Rapids suburb of Wyoming, Michigan, to a private equity firm. This community, built in 2020, features 152 units of independent living, assisted living and memory care, and has exhibited strong performance. The seller, Redstone Homes, was represented by Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare. After developing the community in 2020, Redstone took over operations in 2023, with the community quickly achieving high occupancy and strong operating margins. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia Senior... Read More »Schedule a demo
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