Joint Venture Acquires Full-Continuum Community in Las Vegas
After acquiring two Class-A seniors housing communities in March through separate transactions, Clarion Partners made another purchase, in Las Vegas, Nevada. The previous two additions to its portfolio were Vitality Living Franklin in Tennessee, and The Gallery at Spokane in Washington. The Washington deal was done through a joint venture with Franklin Templeton. Completed in two phases in 2008 and 2010, San Martin Senior Living in Las Vegas consists of a two-story building comprising 144 independent living and assisted living units, plus a single-story building with 30 memory care units. The community, which will be rebranded as The Grand at Southern Hills, is located within a large... Read More »
Partnership Acquires Two Long Island Communities
Two Long Island assisted living communities were sold by their original developer/operator. Village Green Senior Living in Levittown (opened in 2020) and Village Walk Senior Living (opened in 2018) in Patchogue were acquired by a partnership between Fundamental Advisors, Scribner Capital and Atria Senior Living. They will be renamed Atria Levittown and Atria Patchogue, respectively. The newer vintage assets will complement Atria’s existing Long Island portfolio, and the operator expects to increase the occupancy and operating margins. With these additions, Atria now operates 18 communities across New York City and Long Island. Read More »
Artemis Real Estate Partners Purchases Class-A Community
The developer of a Class-A seniors housing community in the Minneapolis, Minnesota MSA, has passed the torch to a new owner. Pillars of Lakeville, now known as The Crest at Lakeville, sits on 1.8 acres. Oppidan Investment Co., a company that developed multiple Pillars senior living properties in Minnesota, acquired the land from Crossroads Church, and construction on the asset began in 2021. Opened in 2023, the community comprises 100 independent living, assisted living and memory care units and is connected to a childcare facility that is operating out of the Church. Ebenezer Management Services, Minnesota’s largest senior living operator, was managing the community. According to... Read More »
Stand-Alone Memory Care Community Gets New Owner
1031 CF Properties, a leading DST investor, acquired a stand-alone memory care community in the Spokane, Washington MSA. Built in 2005 with expansions in 2007 and 2013, Generations Memory Care offers 48 private units with 28,472 square feet on 2.067 acres. The seller was an investment group based in northern California that purchased the asset in 2017 for $8 million, or $166,700 per unit. Senior Services of America, an experienced regional operator with 15 properties in Washington, Oregon and Idaho, was operating the community. The Zett Group handled the sale, and while the asset saw some fluctuations in NOI, there are some realistic value-add opportunities. That upside potential was... Read More »
Buyer Adds Fourth Community in Under 12 Months
Unbridled Living completed its fourth acquisition in less than 12 months, adding a second seniors housing community to its Missouri footprint. Built in 2001 and most recently renovated in 2025, The Emerson at St. Peters is an independent living community with 182 units, 20 of which can flex to assisted living. It has been rebranded as Unbridled Living of St. Peters. The community’s physical plant presents well, as the seller invested approximately $10 million into the property over the past five years, primarily focused on common area improvements. At the time of the purchase, the building was 82% occupied, leaving room for operational upside. Margins were already strong, around 34.3% at... Read More »Schedule a demo
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