Knapp-Stahler Handles Receivership Sale in Utah
After a prolonged receivership process, an assisted living/memory care community in Sandy, Utah, successfully sold with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group of Marcus & Millichap. Built around 2000, the community features an assisted living component with 44 units and 58 licensed beds plus a memory care community with 21 units and 31 beds. Census needed improvement, and the community operated at a significant loss. They were previously owned by a DST investor group (before entering receivership) and operated by SAL Management Group. ONELIFE Senior Living took over operations more recently at the direction of the bank. A regional owner/operator... Read More »
Green Courte Acquires Active Adult Community
CBRE National Senior Housing acted as the exclusive advisor on the sale and debt placement of 55 Resort at Water Valley, a 120-unit active-adult community in Windsor, Colorado, just north of Denver. John Sweeny and Aron Will represented the seller, while Will and Adam Mincberg originated a 10-year fixed-rate loan through CBRE’s Fannie Mae DUS Lending Platform on behalf of the Chicago-based private equity buyer. Built in 2019, the community is highly-amenitized and set on a 5.9-acre site. Being rebranded as Eagle’s Peak at Water Valley, it sits within a larger master-planned community, Water Valley, which comprises 1,800 single-family and multi-family residential units, as well as... Read More »
Ventas Acquires in Florida to Expand Relationship with SRI
Ventas acquired an assisted living/memory care community in Jacksonville, Florida, in partnership with SRI Management as the operating company. The deal is an expansion of the relationship between the REIT and the Tallahassee-based operator. Brad Clousing, Dan Geraghty and Jeff Binder of Senior Living Investment Brokerage handled the transaction on behalf of the seller, a local group of investors and developers. This was their only seniors housing asset. Built in 2017 on 14 acres in Atlantic Beach, Anthem Lakes Waterview Senior Living features 91 assisted living/independent living and 28 memory care units with lakefront views and direct access to a nearby nature preserve. The... Read More »
IRA Capital Buys San Diego Community
Ziegler served as exclusive financial advisor in the successful sale of St. Paul’s Plaza, a 155-unit seniors housing community located in Chula Vista, California. The seller was St. Paul’s Senior Services, a not-for-profit organization that was looking to expand in PACE (Program of All-Inclusive Care for the Elderly) as well as provide more affordable seniors housing and healthcare solutions. Built in 2015 on 4.5 acres in the affluent suburb of San Diego, the Class-A community features 155 units of independent living, assisted living and memory care. There are 71 studio, 81 one-bedroom, and two two-bedroom options. Plus, there is room for expansion. It was decently occupied and generated... Read More »
Strawberry Fields Acquiring 9 SNFs
Strawberry Fields REIT entered into a purchase and sale agreement with an unaffiliated seller to acquire nine skilled nursing facilities. The facilities comprise 686 beds and will be purchased for $59 million (including certain consulting fees), $86,000 per bed, payable at closing. The company intends to utilize its current working capital and funds provided by a third-party lender to make payment for the purchase. Closing is anticipated to occur on or before July 1. Eight of the facilities will be leased to the Tide Group and added to the master lease Strawberry Fields entered into in August 2024. The master lease will remain materially unchanged other than resetting the lease... Read More »Schedule a demo
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