AEW Capital Management Divests to Joint Venture
Berkadia Seniors Housing & Healthcare handled the sale and financing of The Sheridan of Green Oaks, which Town Lane and Arcole acquired, marking the joint venture’s fifth seniors housing investment in their inaugural $1.25 billion real estate fund. Built in 2016 by Senior Lifestyle Corporation, the Class-A community comprises 78 independent living, 64 assisted living and 56 memory care units in Lake Bluff, Illinois (Chicagoland). The joint venture will bring Solera Senior Living on to manage the newly acquired property. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare handled the sale on behalf of AEW Capital Management. Garrett... Read More »
Foundry Commercial Continues Its Expansion
Foundry Commercial has been an active acquirer this year, particularly in Florida. The company recently bought a seniors housing portfolio comprising three communities in Jacksonville, Titusville and Plant City, Florida, and two in Boynton Ridge and Warner Robbins, Georgia. It closed on the purchase of the three Florida assets in February, and on the Georgia assets in October. In a separate February transaction, it purchased two additional communities in Florida, in Tavares and Clermont. All seven of the Class-A assets offer assisted living and memory care services. The Jacksonville community, The Canopy at Duval Station, was built in 2022 by the seller, Rimrock Cos. of Lake City, and... Read More »
Denver Owner/Operator Acquires Colorado AL Community
Vince Viverito, Jason Punzel and Jeff Binder of Senior Living Investment Brokerage handled the sale of an assisted living community in Keenesburg, Colorado. Built in 1998, the community was fully occupied and operated at a solid 25% margin. It was the second of three assets that SLIB was tasked with selling in rural Colorado on behalf of the institutional client. The team leveraged their buyer network as well as an online platform to maximize outreach, sourcing multiple interested parties from around the region. The selected acquirer was a regional owner/operator based in Denver. Read More »
Michigan-Based Owner/Operator Expands in Tampa MSA
American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies and patios. Amenities include a wellness center, onsite dog park, salon, chapel, game room, movie theater, outdoor common spaces and scheduled transportation. The deal brings the operator’s Florida portfolio to 14 seniors housing communities, including five that are owned by AEW Capital Management. The company also recently opened American House... Read More »
Seniors Housing Community Near Chicago Gets New Owner
SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story. An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid Bennett, Cody Doran and Dan Short of SVN Chicago Commercial arranged the transaction. Read More »Schedule a demo
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