Two Central Florida Communities Trade
Two assisted living/memory care communities set in between Orlando and Gainesville, Florida, found a new in-state owner. Located about 10 miles apart in Ocala and Belleview, the communities total 83 units and were previously owned by a partnership between a Florida-based capital partner and a regional operator. Both assets are cash-flowing but have upside potential for a new owner. There is also a third asset currently awaiting a HUD assumption and will transition once the approval is complete. Its new owner will be a Florida-based owner/operator, which is acquiring the whole portfolio. Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage handled the transaction. Read More »
Private Equity Firm Acquires Its Fourth Seniors Property
A private equity firm based in La Jolla, California, just purchased their fourth seniors housing property. Bakerson Companies bought Truewood by Merrill, Clovis, a 115-unit assisted living/memory care community in Clovis, an affluent suburb of Fresno, California. The property was an older vintage but showed well. Bakerson will bring in a new operating partner, Calson Management, to operate it going forward under a new name: Saddle Ridge Senior Living, which honors the city’s celebrated Clovis Rodeo and its deep-rooted western heritage. The firm paid all cash for the property, at an attractive per-unit value. Scott Frazier and Brooks Blackmon of Blueprint handled the deal. In a story... Read More »
Hotel Developer Divests Non-Stabilized, Class-A Asset to Sonida Senior Living
Austin Diamond and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap announced their role representing the seller of a 98-unit assisted living/memory care community in Mansfield, Texas (Dallas-Fort Worth area). Sonida Senior Living was the buyer, paying $15.55 million, or $159,200 per unit, which was funded with cash on hand and proceeds from its senior secured revolving credit facility. The Knapp-Stahler Group navigated a challenging renegotiation at the expiration of due diligence, ensuring a favorable outcome and smooth closing for all parties. That is an attractive price, from Sonida’s perspective, for a 2016-vintage, recently-renovated, Class-A property, which Sonida... Read More »
Stabilized Seniors Housing Community Trades Hands
Blueprint handled the sale of an 80-unit assisted living and memory care community in the Syracuse, New York MSA. At the time of marketing, it was generating strong cash flow and had recently benefited from significant renovations, positioning it as stabilized. Connor Doherty, Ryan Kelly, Jacob Gehl and Dillon Rudy handled the transaction. A diverse buyer pool was targeted, including local, regional and national groups. The process generated three competitive offers, ultimately resulting in the selection of a regional owner with an existing footprint. The buyer will retain the incumbent operator. Read More »
CareTrust REIT’s CFO/Treasurer Plans to Retire
CareTrust REIT announced that William M. Wagner, the company’s Chief Financial Officer and Treasurer, plans to retire in early 2026. Wagner has been with the REIT since its inception in 2014, following its spin-off from The Ensign Group. Derek Bunker, who currently serves as CareTrust’s Senior Vice President of Strategy and Investor Relations, is expected to succeed Wagner as CFO effective January 1, 2026. Bunker has more than a decade of healthcare leadership experience, including as Vice President of Acquisitions and Business Legal Affairs at The Ensign Group, and more recently as Chief Investment Officer and Executive Vice President at The Pennant Group, another Ensign spin-off. ... Read More »Schedule a demo
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