LTC Properties Acquires Class-A California Community
JLL Capital Markets completed the sale of Loma Clara, an 89-licensed-bed, Class-A seniors housing community in Morgan Hill, California. JLL’s Seniors Housing Capital Markets team marketed the property on behalf of the seller, Steadfast Senior Living, and procured the buyer, LTC Properties. The REIT acquired the community within its SHOP segment with an estimated year-one yield of 7%, and will retain Discovery Management (an affiliate of Discovery Senior Living) as the operator, establishing a new relationship. Completed in 2018, Loma Clara is a two-story building offering 42 assisted living units and 25 memory care units with 41 beds. The property is 92% occupied and is a full private-pay... Read More »
Not-for-Profit Divests Texas Standalone MC Community to Family-Owned Company
Matthew Alley of Senior Living Investment Brokerage announced another Lone Star State deal, selling a 20-unit memory care community in Sugar Land, Texas. Built in 1998, the community was the only seniors housing asset of a not-for-profit organization, which decided to divest. It was 80% occupied but losing around $30,000 a year on $1.26 million of revenues. A local family-owned company will look to take advantage of its market presence to bolster census and improve the operating margin. They paid $1.6 million, or $80,000 per unit. Read More »
Owner/Operator Purchases Vacant Community for Reopening
Blueprint was engaged to market a 100-unit vacant assisted living community located 10 miles south of Cleveland, Ohio, that had been taken offline following operational challenges. The community sustained profitability during prior operations. Blueprint generated four competitive offers from sophisticated owner/operators with proven capabilities in executing value-add strategies. The selected buyer, known for opportunistic acquisitions, intends to reopen the community and fill it through the state’s Medicaid waiver program. Connor Doherty and Ryan Kelly handled the transaction. Read More »
Local Operator Acquires Vacant Seniors Housing Community
Senior Living Investment Brokerage facilitated the sale of a recently renovated, vacant seniors housing community in Sandy, Oregon. Built in 1962 and renovated in 2022, Mount Hood Senior Living features 44 assisted living and memory care units with 50 beds. It is situated on a 2.35-acre campus with 26,000 square feet. This was the seller’s only seniors community, and they are exiting the industry. The buyer is a local operator and will reopen the community. They paid $6.3 million, or $143,200 per unit, for the asset. Jason Punzel, Brad Goodsell, Vince Viverito, Jake Anderson and Taylor Graham handled the transaction. Read More »
Ohio IL Community Trades for Value-Add AL Conversion
Blueprint was engaged in the sale of a 110-unit seniors housing community in Perrysburg, Ohio. It operated as an independent living community, but was positioned for conversion to assisted living, with a focus on serving waiver-eligible residents. Ben Firestone, Connor Doherty and Ryan Kelly handled the transaction. A buyer with a proven track record in executing value-add conversions and an existing Ohio footprint was ultimately selected. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
