Meridian Senior Living Enters Colorado
JLL Capital Markets completed the sale of Pine Grove Crossing, a 127-unit assisted living and memory care community in Parker, Colorado. Built in 2018, Pine Grove offers 100 AL and 27 MC units in a three-story building across 4.41 acres. At the time of sale, it was 90% occupied. The seller was a real estate private equity group, while an affiliate of Meridian Senior Living purchased the community in a joint venture with a state pension fund institutional investor. The plan is to implement capital improvements to enhance resident amenities, including upgrading dining areas and outdoor spaces. Meridian now operates more than 46 seniors housing and care properties in 16 states.... Read More »
Legend Senior Living Acquires in OK and Secures Financing
Berkadia Seniors Housing & Healthcare facilitated the sale and financing of a 90-unit assisted living and memory care community in Edmond, Oklahoma. Built in 2016, the community features 58 AL and 32 MC units and is among the newest seniors housing communities within the Oklahoma City market, which has seen minimal new development over the past four years. The buyer was Legend Senior Living, which will rebrand the community as Legend of Edmond. It was formerly known as StoneCreek of Edmond Assisted Living and Memory Care. Cody Tremper, Dave Fasano, Ross Sanders and Mike Garbers of Berkadia represented the seller, StoneCreek Real Estate Partners. Rafael Nobo and Alex Rosenfeld of... Read More »
SLIB’s Recent Activity
Senior Living Investment Brokerage announced a couple of closings involving older assisted living communities. First, Daniel Geraghty, Bradley Clousing and Dave Balow represented a Northeast-based owner that was looking to recycle capital and focus on its core assets. It chose to divest Brookside Stone Mountain, a 40-unit assisted living/memory care community in Stone Mountain, Georgia. Built in 1995 and renovated in 2016, the community features an outdoor courtyard with walking paths as well as an outdoor garden area. Occupancy was around 73% based on units, and the community was operating close to breakeven at the time of the sale. SLIB had previously sold this asset two separate times... Read More »
Silverado Senior Living Secures Financing
Silverado Senior Living acquired two memory care communities with the help of acquisition financing closed in part by Capital Funding Group. Silverado had previously managed both communities prior to the deal. The transaction was funded by senior and junior debt totaling $32.25 million. Part of that was a $9.95 million subordinate loan closed by CFG. Silverado also established a new lending relationship by closing the loan with CFG. Read More »
Sunrise Senior Living-Operated AL Community Changes Hands
A Sunrise Senior Living-operated assisted living community in Franklin Lakes, New Jersey, found a new owner with the help of the Seniors Housing team and the New Jersey team at JLL Capital Markets. Built in 2021, Sunrise of Franklin Lakes offers 51 assisted living and 37 memory care units in studio, one- and two-bedroom layouts, with semi-private options for memory care. JLL represented the seller and procured the undisclosed buyer in the transaction. Sunrise was retained as the property’s manager. Read More »Schedule a demo
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