National Church Residences Adds to Georgia Portfolio
National Church Residences, a not-for-profit organization that serves more than 42,000 seniors through an array of housing and healthcare services, acquired an affordable senior housing apartment building in southeast Georgia. The property, called McFadden Place, is located in Pembroke and features 30 units. It was built in 2004 and was previously owned and operated by Mercy Housing, Inc. Amenities also include a community room, recreational facilities and service coordination, which assists residents with medical needs and connects them to community services available in the area. It joins NCR’s existing network of more than 1,600 senior apartments across 13 communities... Read More »
SilverPoint Senior Living Enters Oklahoma Market
SilverPoint Senior Living has assumed operations of Fountainbrook Assisted Living, a 74-unit community in Midwest City, Oklahoma. SilverPoint currently operates six other communities throughout Texas, so this assumption represents its entry into the Sooner State. SilverPoint will implement their Engaged Life program at Fountainbrook, which encourages residents to become members of the outside community and impact the lives of others. Personalized care plans will also be developed for each resident. Read More »
Brookdale and Welltower See Occupancy Gains
Brookdale Senior Living and Welltower continue to show occupancy gains in their senior living portfolios. For both companies, the peak increase was from May to June, with Welltower’s SHOP portfolio posting a 120-basis point increase, while Brookdale was slightly lower at 100 basis points, based on month-end census numbers. Brookdale ended August at 73.7% while Welltower’s U.S. portfolio ended the month at 75.9%. While Brookdale has posted six straight months of occupancy increases, the rate of growth has been slowing since its peak increase. From June to July, month-end occupancy grew by 70 basis points, but from July to August the increase was just 40 basis points. In... Read More »
DigitalBridge Sells Healthcare Real Estate Assets
The seniors housing and care M&A market was hit with another major deal announcement a couple of days ago when DigitalBridge Group, formerly known as Colony Capital, disclosed that it was selling its healthcare real estate assets for approximately $3.21 billion. The decision is part of DigitalBridge’s strategy to focus solely on “digital infrastructure,” a strategy that has so far yielded a number of dispositions of “non-core assets” in the last two years and concludes with this deal. The healthcare assets include MOBs, senior care facilities and hospitals. There are 106 managed MOBs with 3.8 million square feet that were 82.6% occupied as of the end of March 2021. The senior care... Read More »
SLIB Facilitates Sale of Pennsylvania SNF
The owner of a large skilled nursing facility in Scranton, Pennsylvania decided to sell the property when its tenant announced that it desired to exit operations in the Keystone State. Another Pennsylvania-based skilled nursing owner emerged as the buyer, for an undisclosed purchase price. Built in 1974, the facility is licensed for 272 beds and underwent an addition in 1997. It has been well maintained over the years. Bradley Clousing and Toby Siefert of Senior Living Investment Brokerage procured 12 offers in early 2021 and closed the sale on September 1. Read More »Schedule a demo
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