SLIB Sells Assisted Living in Wisconsin
Ryan Saul of Senior Living Investment Brokerage handled the sale of a 32-unit assisted livingand memory care community located in Westfield, Wisconsin, which is 50 miles north ofMadison. The community sits on 3.1 acres and consists of 22 assisted living units and 10memory care units. The sales price was $2.8 million, or $87,500 per unit, and came with a cap rate of 9.9% based ontrailing six months ending May 2021 annualized. Occupancy was only 65%, which is up from itspandemic low of 50%. The seller was a local mom and pop operator and getting out ofthe business with this sale. Census dropped temporarily on news of the upcoming sale. Harris Villa Assisted Living was built in 2006 and 2011... Read More »Evans Senior Investments Handles Portfolio Sale
Evans Senior Investments announced the sale of a seven-property skilled nursing portfolio. Built between 1957 and 2017, the portfolio comprises a total of 558 beds in the southwestern region of Colorado. The buyer is an east coast-based owner/operator looking to expand its presence out west. The portfolio sold for a purchase price of $51.5 million, or $92,000 per bed. Occupancy was approximately 77% before COVID-19 struck the portfolio and caused the census to fall to 65% at the time of marketing. Jeremy Stroiman and Evan Jacobsze of Evans Senior Investments handled this transaction. Read More »Blueprint Facilitates Texas Transaction
Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in Waco, Texas. Legends Crossing comprises 106-units and sits on 6.7 acres adjacent to Baylor Scott & White Medical Center. Built in 2015 by Mainstreet, the community has since been foreclosed upon and left vacant. Blueprint sourced Texas-based joint venture Zelevie Health and Skywalker Property Partners as the buyers of the community. This is the joint venture’s first acquisitions within the seniors housing space. Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors handled this transaction. Read More »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 »Schedule a demo
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