Artemis Real Estate Partners Acquires Class-A California Community
JLL Capital Markets arranged the sale of a Class-A community in Foster City, California. Built in 2016 by Atria Senior Living as part of a mixed-use master-plan town center development, Atria at Foster Square comprises 155 assisted living and memory care units. Artemis Real Estate Partners purchased the community in partnership with Atria, and Atria will continue to operate the community under its Atria Signature Collection brand. Aaron Rosenzweig and Dan Baker of JLL’s Seniors Housing Capital Markets team handled the transaction. No additional details were disclosed. Read More »
Berkadia Reports Recent Deal Activity
Berkadia announced a few closings in the Midwest. First, Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers were engaged by Ryan Companies US in its divestment of a Class-A seniors housing community in Cedar Rapids, Iowa. Built in 2017 by Ryan Companies, Grand Living at Indian Creek comprises 165 independent living, assisted living and memory care units. The property is situated near Mercy Medical Center and UnityPoint Health-St. Luke’s Hospital, two of the region’s leading healthcare providers. The in-place operator, Grand Living, will continue to manage the community. The buyer and financials were not disclosed. Fasano, Sanders, Tremper and Garbers also facilitated the... Read More »
Benchmark Acquires Fairfield County Community
Benchmark Senior Living added another Connecticut community to its portfolio, acquiring Church Hill Village in Newtown through a joint venture with National Development, a Massachusetts-based real estate investor. Built in 2019 by a partnership between Senior Lifestyle Corporation and Teton Capital Co., the 71-unit assisted living/memory care community is laid out in four connected residential neighborhoods. It is Benchmark’s 21st community in Connecticut, and the ninth in the affluent Fairfield County. The company has also made recent investments with National Development in New Jersey and New York. Webster Bank provided acquisition financing for the deal, but no terms were... Read More »
ALP Owner/Operator Expands in Upstate New York
Dave Balow of Senior Living Investment Brokerage facilitated the sale of an assisted living program community in the Albany, New York MSA, on behalf of a private owner. Built in 1985, Danforth Adult Care Center is in Hoosick Falls and features 57 units with 80 beds, including 42 licensed as ALP. The community sits on 2.49 acres with 29,112 square feet and maintains a roughly equal payor mix of private-pay and Medicaid residents. It generated $303,800 in EBITDAR on $3.17 million of revenues, with 83.8% occupancy. The offering was marketed in the summer of 2024, attracting several competitive offers. The buyer, a New Jersey-based ALP owner/operator with a growing portfolio across upstate... Read More »
North Carolina Skilled Nursing Portfolio Secures Financing
MONTICELLOAM announced the initial funding of $152 million in total bridge and working capital financing for the acquisition of nine skilled nursing facilities with nearly 1,100 beds across North Carolina. The debt carries a 36-month initial term with two extension options. The sponsor, a returning healthcare client with operating experience in the Southeast, will utilize a $10 million working capital line of credit to manage the daily operational needs of the facilities. Read More »Schedule a demo
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