Walker & Dunlop Works on Calamar’s Senior Apartments Sale
We learned that the Walker & Dunlop Seniors Housing Investment Sales team of Josh Jandris, Brett Gardner, Tony Cassie, Mark Myers, Gideon Orion, Jordyn Berger, Alex Vice, and Sam Thompson represented Calamar in the sale of its 25-property senior apartment/active adult portfolio under the brand name “Connect55+” for $502 million, or $172,000 per unit. They are located primarily in non-coastal East Coast and Midwest locations, with concentrations in western New York and Pennsylvania and the Kansas City area. Monthly rents average $1,300, and the portfolio maintained high levels of occupancy throughout the pandemic. There was an average length of stay above five years. There were 18... Read More »Takeaways from the Active Adult Webinar
On June 23rd, 2022, Ben Swett, Editor of The SeniorCare Investor, spoke with two expert panelists on the active adult market, the opportunities within it and the risks. Ben was joined by Jane Arthur Roslovic, CEO and Co-Founder of Treplus Communities, and Leland Manning, Director of Newmark, to discuss what this new asset class even is, which markets are ripe for development and what the current state of the active adult M&A market looks like. Mr. Swett kicked off the webinar by asking the panelists to define the active adult market, which has taken off over the past few years. Ms. Roslovic and Mr. Manning spoke about active adult as being a “state of mind” for people aged 55 and... Read More »Inspired Healthcare Capital Makes Fourth Acquisition of 2022
Inspired Healthcare Capital (IHC) recently acquired Homestead at Hamilton, a 195-unit independent living, assisted living & memory care community located in Hamilton, New Jersey. The purchase price of the community was $97,500,000. IHC is a Scottsdale, Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s 4th acquisition in 2022, after closing on nine senior housing transactions in 2021. Homestead at Hamilton was built in 2017 for a cost of approximately $60 million, or $308,000 per unit. The Class-A building has 96 independent living (opened in November 2017), 75 assisted living and 24 memory care units (licensed in April 2018). A... Read More »SLIB Handles Texas IL Deal
An independent living community in Houston, Texas deemed to be non-core by its owner/operator found a new buyer in a California-based real estate investor. Matthew Alley, Vince Viverito, Brad Goodsell and Jason Punzel of Senior Living Investment Brokerage led the transaction process, which yielded multiple offers and closed within three months of LOI. Built in 1974, the community features 300 units and 206,000 total square feet on around 7.6 acres. It was operated just under breakeven on about $5.25 million of 2021 revenues. Occupancy stood at 78%, but the property shares services with a healthcare center within the same campus, which should boost the community’s appeal. The real estate... Read More »Convivial Life Acquires Jacaranda Trace
Sarasota, Florida-based not-for-profit Convivial Life has acquired Jacaranda Trace, an independent and assisted living community in Venice, Florida. Built in phases from 1999 to 2015, the community comprises 295 units on 33 acres with a plethora of amenities and activities in close proximity. Convivial plans to take the underdeveloped lots and extra space and utilize that land for additional venues, amenities and activities. As part of the acquisition, Convivial also purchased an 85,000+ square foot clubhouse featuring a fitness center, heated outdoor pool and jacuzzi, an on-site doctor’s clinic, multiple dining venues, billiards and activity rooms, woodworking shop, and a library.... Read More »Schedule a demo
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