Sabra Health Care REIT Buys Class-A Georgia Asset
Berkadia represented Principal Senior Living Group in its sale of Benton House Decatur, a 73-unit assisted living and memory care community in Decatur, Georgia, approximately ten miles northeast of downtown Atlanta. Managing Directors Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the transaction. Benton House Decatur was purchased on December 1 by a long-time owner of seniors housing communities and will be operated by Phoenix Senior Living going forward. The community’s new name will be The Retreat at Decatur. Built in 2017, the property has achieved steadily high occupancy and strong margins, boasting an... Read More »
Family Owned/Operated Company Purchases in Ostego
A family owned and operated company based in Michigan bought an assisted living/memory care community in the Wolverine State. Built in 2016, the community is located in Otsego, Minnesota, about 40 miles south of Grand Rapids and 10 miles north of Kalamazoo. There were no major competitors in the local market that offered both AL and MC services on one campus. And the community was stabilized at the time of the sale. Daniel Geraghty, Bradley Clousing and Matthew Alley of Senior Living Investment Brokerage represented the seller, an owner/operator that focuses on states east of the Mississippi River. There were multiple qualified offers for the seller to review, and the deal closed... Read More »
Welltower Sells Vintage Park Portfolio
Midwest Health completed the largest acquisition in its nearly five-decade history, and in its home state of Kansas. The Topeka-based firm bought 15 assisted living communities with the help of its financial partner, Capitol Federal, a bank also headquartered in Topeka. The 15 communities were formerly under the Vintage Park brand and will now be branded as Homestead Assisted Living communities. Totaling approximately 600 units, they are located in Atchison, Baldwin City, Gardner, Hiawatha, Holton, Lenexa, Louisburg, Osage City, Osawatomie, Ottawa, Overland Park, Paola, Tonganoxie, Wamego and Wichita. On January 1, 2016, Welltower acquired 18 Vintage Park... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »Schedule a demo
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