Benchmark Senior Living Adds to Its Garden State Portfolio
In its joint venture with the vertically integrated real estate investment firm National Development, Benchmark Senior Living continues to grow through single-asset deals, adding another New Jersey property to its portfolio. Benchmark acquired Arbor Terrace Roseland, a 85-unit assisted living/memory care community in Roseland, New Jersey, about 15 miles west of Manhattan, New York. Synovus Bank provided acquisition financing for the deal. The community joins a growing Garden State portfolio for Benchmark, which is set to open Benchmark at Scotch Plains in partnership with National Development in 2026. Plus, Benchmark at Cedar Grove will open in 2027. Earlier this year, Benchmark and... Read More »
REIT Acquires Two Class-A Assets
The team at Newmark handled the sale of two Class-A seniors housing assets in Arkansas and Texas. The Rogers community in Northwest Arkansas was built in 2023 with 221 total units, comprising 26 cottages, 109 independent living units, 56 assisted living units and 30 memory care units. The Burleson, Texas, community also opened in 2023 and features 234 units, including 34 cottages, 110 IL, 60 AL and 30 MC units. Occupancy was in the mid-80s at both locations, but the communities were not stabilized from a cash flow perspective, especially considering the share of IL units and cottages. The purchase price was not disclosed, but the buyer was a publicly traded REIT. Read More »
Blueprint Closes Inaugural North Dakota Deal
Ryan Kelly, Steve Thomes, Connor Doherty and Kory Buzin of Blueprint arranged the sale of a 75-bed skilled nursing facility in central North Dakota. At the time of marketing, the facility was generating positive cash flow despite operating at only 50% occupancy, highlighting a compelling opportunity for an incoming operator to drive census growth and significantly enhance profitability. Through a competitive marketing process, Blueprint attracted interest from both regional and national buyers. Ultimately, a strategic investor recognized the upside potential and acquired the facility, with plans to implement operational improvements aimed at boosting occupancy and unlocking long-term... Read More »Fortress Investment Group Divests Arizona Asset
JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture with Cogir Senior Living, so Cogir clearly did a great job (and will be continuing as manager). Alanna Ellis and Alex Sheaffer of JLL had arranged acquisition financing for that deal, and Nick Stahler, Hamid Panahi and Steve Gebbing with Institutional Property Advisors of Marcus & Millichap had handled the 2024 sale. Built in 2019, the community... Read More »Stacked Stone Makes Another Acquisition
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made an Illinois acquisition in a joint venture with the private equity firm Praxis Capital. Totaling 159 units, the communities were built in 2000 and 2004. Occupancy was in the high-60% range, so there was room to grow for the incoming operator, Longevity Senior Living. The operating margin stood close to 5%, with full financials available on LevinPro LTC. Stacked Stone can also significantly increase... Read More »Schedule a demo
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