Atlas Senior Living Grows in Alabama
Birmingham-based operator Atlas Senior Living is increasing its scale in northern Alabama, having acquired Thrive at Jones Farm in Huntsville. Atlas also operates The Goldton at Athens, Monark Grove Madison, and Madison at The Range, with Goldton being its luxury brand. The Huntsville location will be renamed The Goldton at Jones Farms. Built in 2017 by a joint venture between Harrison Street, local investors and Thrive Senior Living, the community has 93 units of assisted living and memory care. As part of the transition to Atlas, the community will be implementing new technology through partnerships with Alexa and Speak2. Speak2 empowers seniors to use simple voice commands to make... Read More »
Corum Asset Management Acquires PACE Medical Facility
JLL Capital Markets completed the sale of WelbeHealth Fresno Center, an 18,869-square-foot, Class-A PACE medical facility in Fresno, California. The seller was Turner Impact Capital’s Turner Healthcare Facilities Fund, a growing social impact investment fund, which was represented by JLL in the deal. JLL also procured the buyer, Corum Asset Management, a French investment firm that manages over $9 billion in real estate and alternative investments. This was the first transaction between JLL and Corum. WelbeHealth – Fresno Center was originally built in 1975 and renovated in 2020. The fully leased facility is part of the PACE (Program of All-Inclusive Care for the Elderly) healthcare... Read More »
Greystone Provides Bridge Financing to Oxford Capital Group
Greystone provided $41 million in bridge financing to Oxford Capital Group for the acquisition of six assisted living communities totaling 372 beds in Minnesota. The financing was originated by Christopher Clare with assistance from David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher. Greystone’s $41 million interest-only, non-recourse bridge loan carries a 24-month term with two six-month extension options. The acquisition financing for the properties in the Minneapolis area and northern Minnesota enabled the borrower to close the transaction and begin working with Greystone on securing permanent HUD financing. In March, Oxford purchased 11 assisted living communities... Read More »
Multifamily Investor Enters Seniors Housing
Chad Wegner of Senior Care Realty facilitated the sale of a RCAC in Northeast Wisconsin on behalf of a long-term operator. The RCAC had been family owned/operated since inception, and the seller decided to pass the torch and enter retirement. Purpose built in 2014 and expanded in 2017, this well-maintained community features 19 individual apartments with a mix of independent living and assisted living services in the Green Bay market. It maintained high occupancy and was cash flowing at the time of sale with the seller operating near a 30% profit margin. After multiple offers, the selected buyer was a local multifamily investor with a nursing background that was looking to expand into... Read More »
SLIB Closes Sale of Remaining Guardian Healthcare Assets
The final three assets part of the Guardian Healthcare portfolio that fell into bankruptcy have sold after receiving HUD TPA (Transfer of Physical Assets) approval. Ryan Saul and Toby Siefert of Senior Living Investment Brokerage handled the sale. The whole eight-facility portfolio was originally marketed by Senior Living Investment Brokerage in the fall of 2023 and went into bankruptcy after the buyer’s operator was not approved by the state. Still, the original buyer eventually became the stalking horse bidder. The operations of eleven other facilities were also slated for transfer. Guardian cited “lingering effects of COVID, labor shortages, rising wage inflation, increased... Read More »Schedule a demo
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