Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »
Management Transfer Includes Purchase Option
A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the real estate of the campus. So, Giannini secured a long-term, triple-net lease with a new operating partner. The agreement included a purchase option. Read More »
Owner/Operator Acquires Its Second Community
Unbridled Living, an owner/operator of independent living, assisted living and memory care communities across the United States, acquired its second seniors housing community, The Reserve at North Dallas. The Class-A community is in Dallas, Texas, with 247 independent living and 26 assisted living units. The building was in good shape, as the previous owner invested in capital improvements, and it was performing well. But there was still upside potential, with Unbridled Living planning to focus on improving operations, specifically dining and overtime, and increasing occupancy. The community will be rebranded as Unbridled Living of Dallas. This is the first investment made... Read More »
Not-For-Profit Sells Distressed SNF to Regional Owner/Operator
A not-for-profit seniors housing provider with a century-long legacy of serving seniors divested an underperforming skilled nursing facility in Marietta, Ohio. The non-core asset no longer aligned with the seller’s strategy. After a confidential marketing process, Connor Doherty, Ryan Kelly and Michael Segal of Blueprint identified a well-established regional owner/operator with a significant presence throughout Ohio to assume ownership and reposition the community. Despite the facility’s distressed performance, the transaction achieved a favorable outcome. Not-For-Profit United Church Homes announced the sale of The Harmar Place Community in Marietta to Foundations Health Solutions,... Read More »Schedule a demo
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