Operationally-Challenged CCRC Transitions to Lease Option
Blueprint was engaged to market a 225-unit CCRC in St. Louis, Missouri, that was experiencing operational challenges. The seller, a large owner/operator, was looking to address immediate performance issues and position the asset for long-term stability and value. So, the deal was marketed either as an outright sale or a lease with a purchase option. Following a competitive process, the selected transaction structure was a lease with a purchase option. The incoming operator, a regional owner/operator, brings local market knowledge with an established footprint in Missouri as well as Illinois. Connor Doherty and Ryan Kelly handled the transaction. Read More »
Class-A Arizona AL/MC Community Joins Welltower’s Portfolio
Welltower has acquired a 118-unit assisted living/memory care community in Marana, Arizona, northeast of Tucson. The Watermark at Continental Ranch was developed in 2019 by Kayne Anderson Real Estate and Watermark Senior Living. Watermark bought the land in 2017 for $1.34 million, and Kayne Anderson bought the community in 2019 upon receipt of the certificate of occupancy and licensure, according to the deal in LevinPro LTC. BMO Harris Bank financed that purchase with a $21 million credit facility. There are studio, one- and two-bedroom layouts, plus specialized memory care wings. Welltower has rebranded the community Cogir at Continental Ranch. Read More »
Michigan AL Communities Trade with Turnaround Potential
Madison Meiser and Bill Meiser of Meiser Commercial Real Estate completed two separate seniors housing transactions in Michigan. All parties involved had experience in the senior care sector, making the transactions smooth, aside from routine negotiations. The first transaction to close was in Plymouth. Built in 1980, the assisted living community featured 50 units and was licensed for 75 beds. The buyer, an owner/operator, has opportunities to reduce expenses and enhance the property’s value. At the time of sale, occupancy was 84%, and the community was operating at a loss. For the trailing 12 months ending February 2025, the property generated $2.36 million in revenues. A hurdle... Read More »
Not-For-Profit SNF Owner Expands in Texas
A large not-for-profit owner of skilled nursing facilities in Texas added another facility to its portfolio in the Lone Star State. Set in the town of Georgetown just north of Austin, The Wesleyan was founded in 1962 in collaboration with The Methodist Church, but the current 40-acre campus was built in 2008 and expanded its offerings to include a 142-bed skilled nursing facility, 240 units of independent living, 24 IL cottages and 84 units of assisted living and memory care. The owner decided to sell the standalone skilled nursing facility to Wellsential Health, which owns more than 60 facilities in Texas. Regency Integrated Health Services operates all of Wellsential’s locations.... Read More »
Phorcys Capital Partners Acquires AL/MC Community Through Receivership Sale
Phorcys Capital Partners acquired Village Veranda at Lady Lake, a 125-unit assisted living/memory care community in Lady Lake, Florida, adjacent to The Villages. Opened in 2019, the community was developed by Gordon Cos., Village Veranda Lady Lake LLC and SRI Management, which has operated the community since the start. SRI will stay on as operator. The property was acquired through a receivership sale, with Phorcys as the stalking horse. The deal marks Phorcys’s fifth seniors housing investment. The company is an alternative asset manager focused on investing in distressed assets and municipal bonds with strategic investments across senior living, multifamily, student housing and... Read More »Schedule a demo
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