CORRECTION: Two Nebraska Senior Care Facilities Sell
On August 29, we wrote that two senior care properties were sold in Lexington, Nebraska, including a skilled nursing facility named Plum Creek Care Center owned by Lantis Enterprises. However, Plum Creek Care Center has not sold. Rather, the City of Lexington bought Avamere at Lexington, an assisted living community. We apologize for the error. Read More »Big Rock Partners Embarks on $250 Million Development
Green Cay Life Plan Village announced plans for a $250 million development in Boynton Beach, Florida. The 15-acre site at Jog Road and Flavor Pict Road will be developed by BRP Senior Housing Management LLC (an affiliate of Big Rock Partners) and Greenbrier Development LLC. The resort-like CCRC will comprise around 170 independent living, 16 assisted living and 16 memory care units in a three-story, 340,000-square-foot building. That puts the development cost at more than $1.2 million per unit. Amenities will include multiple dining options, a bar and bistro, fitness and wellness centers, yoga studio, salon, movie theater, multi-purpose spaces, a pool, patios and outdoor areas, as well as... Read More »Rocky Mountain Assisted Living Portfolio Sells
Senior Living Investment Brokerage successfully closed the sale of an assisted living portfolio with the help of Vince Viverito, Jason Punzel, and Brad Goodsell. The portfolio comprised a total of 212 assisted living and memory care units across three properties in the Rocky Mountain area. Built from 2017 to 2020 the portfolio sold for a price of $37.5 million or $177,000 per unit. Occupancy ranged drastically from a community in lease-up at 12% to a community with 77%. An Arizona-based owner/operator purchased the assets from a Utah-based developer who was looking to exit the industry. Read More »Waterbury-Area SNF Sells in Connecticut
The Prestige Group announced the sale of a skilled nursing facility in Watertown, Connecticut. The 46-bed facility was known as Watertown Convalarium and was renamed Trinity Terraces. The property sits on 8.5 acres in the greater Waterbury area. Joe Shallow and Richard Natow handled this transaction. The seller of the facility was not disclosed. An LLC linked to Venkat Doddapaneni was the buyer. Read More »Naples CCRC Embarks on Expansion
Suffolk Construction has plans in place to tear down a trio of vacant independent living apartment buildings at Vi at Bentley Village, in Naples, Florida, as part of a redevelopment project on the Naples campus. Demolition is expected to start August 22, and the renovations are to be completed by the end of February 2024. The redevelopment project will bring the community four new buildings comprising 64 independent living units, in five potential floor plans. Each unit ranges in size from 2,400 to 4,500 square feet. The independent living community offers resort-like amenities, as well as lake and golf course views. Each new residence will offer a spacious, screened-in outdoor living... Read More »Schedule a demo
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