SLIB Handles Minnesota Receivership Sale
A senior care campus in Pine Island, Minnesota, with some operational issues in the past has found a new owner thanks to Jake Anderson, Dan Geraghty and Ryan Saul of Senior Living Investment Brokerage. Set on 6.8 acres, the campus includes Pine Haven with 70 skilled nursing beds and Evergreen featuring 24 assisted living units. Pine Haven was built in stages over the years, starting in the mid-1960s, while the AL portion was added in 1995. In 2022, the Minnesota Department of Health stepped in after the nursing facility failed to pay its employees wages, healthcare insurance and other vendor fees. The receivership began in June 2022, and the MDH kept the campus operating until a sale... Read More »
Publicly Traded REIT Acquires in Austin
Not far from the NIC venue in Austin, Berkadia closed the sale of Village on the Park Onion Creek, a 124-unit independent and assisted living community located in an Austin suburb. Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano closed the deal on behalf of Bridgewood Property Company, a Houston-based developer, owner and operator and the original developer of the community. Bridgewood’s wholly owned management company, The Aspenwood Company, will continue managing the property for its new owner, a publicly traded REIT. We hope a bottle of champagne was popped this week at NIC. Opened in 2016, Village on the Park Onion Creek is located in South Austin and boasts consistently... Read More »
Long-Term Owner/Operator Divests in Rural Utah
Evans Senior Investments facilitated the sale of Heirloom Inn, a 67-unit assisted living community in Price, Utah. The seller, which developed the community over 20 years ago, was independent owner/operator Shauna O’Brien. At the time of sale, the property was performing well albeit with opportunities for expense management and revenue growth. There was strong interest from buyers due to the limited supply of assisted living communities in the surrounding market, with a regional operator that offers scale being a good fit for the asset. The three-week competitive marketing process resulted in ESI ultimately identifying a buyer aligned with the seller’s long-term objectives. The transaction... Read More »
LCS and Vi To Merge
LCS and Vi announced a strategic merger, adding Vi’s 10 communities and 4,000 residents to the LCS portfolio of more than 130 communities. Vi has entrance-fee CCRCs in Florida (3), Arizona (2), California (2), Colorado, Illinois and South Carolina. Depending on regulatory approvals, the merger is expected to close in mid-2026, with both companies continuing to operate independently until that point. Vi is the rebranded Classic Residence by Hyatt portfolio, which was founded by Penny Pritzker in the 1980s. Meanwhile, LCS was founded in 1971 by Fred Weitz. Read More »
Kiser’s Myers Announces Closings
Mark Myers has had an active year since leaving Walker & Dunlop in January 2025 to go to SVN before exiting that shop in May to co-create a seniors housing brokerage platform with Kiser Group. But a few deals that he worked on with his previous teams have also recently closed. The largest was the sale of Sarah Neuman, a 301-bed skilled nursing facility in Mamaroneck, New York, that was owned by The New Jewish Home (NJH). Despite negative EBITDA, the high-end, well-located facility sold for $76 million, or $252,500 per bed. The private buyer has significant SNF holdings across the country and showed considerable patience as it took over three years for the state to issue the... Read More »Schedule a demo
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