LTC Properties Gets Early Start on 2026 SHOP Acquisitions
LTC Properties started the year off with a large SHOP acquisition in Atlanta, Georgia. The portfolio comprises three seniors housing communities with nearly 400 independent living, assisted living and memory care units. The assets were built between 2014 and 2018, and were stabilized at the time of sale at 92% occupancy. LTC Properties will retain the in-place operator, The Arbor Company. The REIT purchased the portfolio for $108 million, or around $270,000 per unit, generating an approximate 7% year-one yield and an expected unlevered IRR in the low teens. The acquisition was funded through a revolving line of credit. The transaction checks a lot of the right boxes for LTC. It... Read More »
1019 Senior Living Enters Another State
1019 Senior Living entered a new state through its fifth seniors housing acquisition. The Indiana-based owner/operator purchased Arden Courts at Kenwood, rebranded as Belle’s Place of Kenwood, which was previously operated by Evergreen Senior Living. Built in 2002 with a new roof added in 2016, the asset sits in Cincinnati, Ohio, in the Kenwood suburb. The purpose-built, stand-alone memory care community features 60 units across a Green House-style building that comprises four individual homes. The physical plant was well maintained, but there remains an opportunity for renovations, including planned interior design updates. At the time of sale, Arden Courts at Kenwood was... Read More »
Medical Facilities of America Enters Ohio Senior Care Market
Lutheran Social Services sold three senior care communities in Ohio and engaged Connor Doherty and Ryan Kelly of Blueprint to handle the divestment. The portfolio was cash-flowing at the time of sale with stable operations. Kensington Place offers a full-continuum of care, with 126 independent living, assisted living and memory care units. It was built in 1990 and sits in Columbus. Lutheran Village of Ashland was built in 2000 and comprises 49 assisted living units in Ashland. The Good Shepherd Health and Rehabilitation Center is also in Ashland. It was built in 1997 and features 125 skilled nursing beds. Blueprint’s sale process generated five qualified offers, with Medical... Read More »
Live Well Cottages Locks in Construction Financing
Ziegler, through its Senior Housing & Care Finance Practice, priced Live Well Senior Living Inc.’s $45.6 million Series 2026 bonds. Live Well Senior Living is a not-for-profit organization that provides affordable seniors housing options. Live Well Cottages at Vineland is a planned 130-unit independent living cottage community on a 25-acre site in Vineland, New Jersey. Rental rates will include two hours of weekly in-home care, with additional services available as needed. Construction is scheduled to begin February 2026, and the first units have a planned completion date of six months after construction commences. The units will initially be occupied with temporary certificates of... Read More »
Medical Facilities of America Enters Ohio Senior Care Market
Lutheran Social Services sold three senior care communities in Ohio and engaged Connor Doherty and Ryan Kelly of Blueprint to handle the divestment. The portfolio was cash-flowing at the time of sale with stable operations. Kensington Place offers a full-continuum of care, with 126 independent living, assisted living and memory care units. It was built in 1990 and sits in Columbus. Lutheran Village of Ashland was built in 2000 and comprises 49 assisted living units in Ashland. The Good Shepherd Health and Rehabilitation Center is also in Ashland. It was built in 1997 and features 125 skilled nursing beds. Blueprint’s sale process generated five qualified offers, with... Read More »
Underperforming AL/MC Assets Sell in Michigan
A buyer with operational expertise and capital resources acquired two seniors housing communities that were not stabilized at the time of sale. The new owner intends to stabilize performance, implement targeted management improvements and reposition the assets. Current rates are priced below local competitors, offering upside through rate optimization. Jim Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the deal. The communities sit approximately 15 miles apart in rural southeast Michigan, together spanning more than 15 developed acres. The larger campus with 60 units comprises multiple buildings totaling over 36,000 square feet, and the second property... Read More »
PGIM Divests Two Arizona Assets
JLL’s Seniors Housing Capital Markets team completed the sale and financing of three assets across two separate deals. First, it announced that it sold The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities were stabilized at the time of the deal. JLL marketed the portfolio on behalf of the seller, PGIM, which owned Acoya Mesa in a joint venture with the original developer of the asset, Ryan Companies US, Inc. JLL also worked on behalf of the buyer to secure the 10-year, acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital. The Watermark at Morrison Ranch is a two-story building with 115 units of assisted... Read More »
Underperforming Asset Trades in California
A seniors housing community in Vacaville, California, sold with the help of Nick Stahler and Chad Mundy of The Knapp-Stahler Group at Marcus & Millichap. At the time of LOI, the asset was underperforming and financially strained. Built in 2004, it features more than 80 assisted living and memory care units and is licensed for over 90 beds on 3.66 acres near several healthcare providers between San Francisco and Sacramento. There is potential to add independent living units, creating a full continuum of care in a market with limited IL supply. The transaction was completed through a HUD loan assumption. The Knapp-Stahler Group sourced a buyer with operational expertise and the... Read More »
Communities Sell in California and Missouri
Haven Senior Investments closed a deal right before year-end and announced a couple of others from the preceding months. First, an assisted living community was facing a hard closing deadline, with a 30-day escrow and commercial loan that would have been canceled if the transaction did not close by December 31. Rebecca Van Wieren and Scott Fuller closed the sale just under the wire, finalizing the transaction at 4:30 PM on New Years Eve. Built in the 1960s and renovated since then, the community sits in the Bay Area of California. It features 19 units and 35 beds, with 94% occupancy. The local doctor-seller had tried to divest the community with the help of two other agents, but a... Read More »
Cambridge Provides HUD Construction Financing
Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund the addition and complete improvements to the existing building. The loan has a fixed rate, was non-recourse and was also interest-only. However, the interest rate was not disclosed. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
