Improving SNF Sells to Newer Skilled Nursing Entrant
A regional skilled nursing owner/operator divested one of its senior care facilities in western Nebraska after deciding to refocus its operational efforts in a more condensed regional footprint. The owner/operator engaged Michael Segal and Daniel Waldhorn of Blueprint to run the process. Built in 1960, Monument Rehabilitation and Care Center has 160 skilled nursing beds and 23 assisted living units. The facility is in Scottsbluff, the largest city in Nebraska’s panhandle, and is situated across from the only regional hospital within 30 miles. During the sale process, the outgoing operator significantly improved operations, primarily driven by increased census and improved quality... Read More »
AEW Capital Management Divests to Joint Venture
Berkadia Seniors Housing & Healthcare handled the sale and financing of The Sheridan of Green Oaks, which Town Lane and Arcole acquired, marking the joint venture’s fifth seniors housing investment in their inaugural $1.25 billion real estate fund. Built in 2016 by Senior Lifestyle Corporation, the Class-A community comprises 78 independent living, 64 assisted living and 56 memory care units in Lake Bluff, Illinois (Chicagoland). The joint venture will bring Solera Senior Living on to manage the newly acquired property. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare handled the sale on behalf of AEW Capital Management. Garrett... Read More »
Foundry Commercial Continues Its Expansion
Foundry Commercial has been an active acquirer this year, particularly in Florida. The company recently bought a seniors housing portfolio comprising three communities in Jacksonville, Titusville and Plant City, Florida, and two in Boynton Ridge and Warner Robbins, Georgia. It closed on the purchase of the three Florida assets in February, and on the Georgia assets in October. In a separate February transaction, it purchased two additional communities in Florida, in Tavares and Clermont. All seven of the Class-A assets offer assisted living and memory care services. The Jacksonville community, The Canopy at Duval Station, was built in 2022 by the seller, Rimrock Cos. of Lake City, and... Read More »
Denver Owner/Operator Acquires Colorado AL Community
Vince Viverito, Jason Punzel and Jeff Binder of Senior Living Investment Brokerage handled the sale of an assisted living community in Keenesburg, Colorado. Built in 1998, the community was fully occupied and operated at a solid 25% margin. It was the second of three assets that SLIB was tasked with selling in rural Colorado on behalf of the institutional client. The team leveraged their buyer network as well as an online platform to maximize outreach, sourcing multiple interested parties from around the region. The selected acquirer was a regional owner/operator based in Denver. Read More »
Another Firm Commitment Secured through The Express Lane
NewPoint Real Estate Capital has received its second firm commitment through the HUD Express Lane program. Back in June, when the Express Lane was launched, NewPoint received the first firm commitment the program had issued. In that transaction, a 54-unit memory care community secured approval in less than a week from submission. In the more recent transaction, NewPoint received its second firm commitment within only seven business days. This time, a 130-bed skilled nursing facility in the Hartford, Connecticut MSA, secured the refinance. Since 2023, the owner has invested more than $2.5 million to fully modernize the facility, including upgrades to resident rooms, therapy and memory care... Read More »
Interview with Arnie Whitman and Meredith Oppenheim on VITALS
The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
Michigan-Based Owner/Operator Expands in Tampa MSA
American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies and patios. Amenities include a wellness center, onsite dog park, salon, chapel, game room, movie theater, outdoor common spaces and scheduled transportation. The deal brings the operator’s Florida portfolio to 14 seniors housing communities, including five that are owned by AEW Capital Management. The company also recently opened American House... Read More »
Seniors Housing Community Near Chicago Gets New Owner
SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story. An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid Bennett, Cody Doran and Dan Short of SVN Chicago Commercial arranged the transaction. Read More »
Healthpeak Properties Provides Janus Living Updates
Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under the ticker “JAN.” The offering is subject to market conditions, receipt of regulatory approvals, completion of related financings, completion of the SEC’s review and other customary conditions. The number of shares to be offered, the price range and other terms for the offering have not yet been determined. BofA Securities and J.P. Morgan are... Read More »
SLIB Handles Senior Care Campus Deal in Missouri
A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only multi-acuity campus in the surrounding area. But occupancy stood at 67%, and the community was operating just below breakeven on $3.45 million of revenues at the time of marketing.Its local Missouri owner/operator was looking to focus on its primary business, hence the sale, and engaged Nick Cacciabando, Jeff Binder and Lucas Doll of Senior Living... Read More »Schedule a demo
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