Tenant Acquires California Property
JCH Senior Housing Investment Brokerage announced the sale of a 77-unit assisted living/memory care community in the High Desert region of California. This property was originally structured as a five-year lease with a purchase option. But just 15 months into the lease term, JCH closed an $8.5 million, or $110,400 per unit, sale. The property’s single-asset owner was retiring, and the incoming owner is an experienced regional operator. During the lease period, the tenant/buyer expanded bed capacity, enhancing the future revenue and NOI opportunity. That is what led them to exercise the purchase option well ahead of schedule. Cindy Hazzard and Jennifer Contreras served as the lead... Read More »Greystone Divests Supportive Living Facility
Evans Senior Investments announced the sale of Foxes Grove Supportive Living, a 105-bed supportive living facility in Wood River, Illinois. The buyer was the existing tenant, a regional owner/operator. ESI originally structured the purchase agreement for a 13-property portfolio, including this asset. It appears as though Greystone was the seller. According to LevinPro LTC, Greystone acquired the 1,662-bed portfolio in 2020. The deal included 12 skilled nursing facilities and this supportive living community, with 12 assets in Illinois and one in Missouri. More details on that transaction, which marked Greystone’s entrance into both states, can be seen here on LevinPro LTC. Read More »Family Divests Upstate New York ALP
After running an assisted living/memory care community in Lockport, New York (Rochester MSA), for over three generations, a family has decided to divest and exit the industry. They engaged Dave Balow, Dan Geraghty and Ryan Saul of Senior Living Investment Brokerage to sell the asset. Built in 1982 and 1988, with a memory care expansion in 2017, Briarwood Manor features 160 licensed Assisted Living Program (ALP) beds in 113 units. It was well maintained over the years and competes directly with the upper-end private pay communities in the area. However, it was just 44% occupied based on 158 operational beds, and the community was losing around $750,000 on $3.5 million of revenues. ... Read More »Joint Venture Acquires California Facilities
At the end of a busy year of acquisitions, Stacked Stone Ventures announced one more on New Years Eve. The San Clemente, California-based real estate investment firm acquired two skilled nursing facilities in a joint venture with Praxis Capital for $8.25 million, or $43,200 per bed. The facilities feature a total of 191 skilled nursing and assisted living beds. They were added to an existing master lease with Accura Healthcare in Iowa. Oxford Finance helped fund the deal. The transaction caps an active year for Stacked Stone and Praxis, which together acquired 11 skilled nursing facilities, nine assisted living/memory care communities and one CCRC in 2025. The purchases totaled nearly $130... Read More »City of Wichita Issues Bond Financing
Ziegler successfully closed Larksfield Place’s $45.205 million Series 2025 bonds, issued through the City of Wichita, Kansas. Larksfield is a not-for-profit, single-site CCRC founded in 1988 in northeast Wichita. The 67-acre campus includes 22 independent living villas, 164 independent living apartments, 62 assisted living apartments, 10 memory care apartments and 80 private skilled nursing suites. Residents are offered an 80% refundable “Type C” entrance fee contract. Larksfield is significantly expanding its campus with the development of a four-story, 48-apartment independent living building known as “Larksfield Landing,” featuring under-building enclosed parking alongside additional... Read More »Receivership Sale of Standalone Memory Care Community Closes
Senior Living Investment Brokerage’s Southeast closings continued with the sale of Westminster Memory Care in Lexington, South Carolina. Built in 2020, the Class-A community features 48 units of memory care and high-end finishes. It is set on 6.3 acres, which provides an opportunity for expansion under new ownership. Also, at the time of the sale, the community was fully stabilized, so an expansion may be a good move. It was developed using bond financing, and the original owner was a Southeast-based developer. But the community was under receivership. The asset received significant interest from buyer groups, and the receiver seller, Trinity Investors, got more than eight qualified... Read More »
Active Adult Community Secures Freddie Mac Refinance
An active adult community in Hurst, Texas, paid off its existing bank debt with a Freddie Mac refinance arranged by Berkadia. Heritage Village Residences was built in 2014 with 120 units, including 10 cottages. It was part of multiple acquisitions over the years, first in 2020 when Edison Equity Management Corporation bought it for $23.3 million and invested approximately $500,000 in renovations. As a result of the property renovations, management was able to significantly increase in-place rents. Then, in December 2022, Edison Equity sold the property to an out-of-state buyer in an “off-market” process with a local broker who represented an out-of-state buyer with an existing Dallas-Fort... Read More »
Upstate NY Seniors Housing Community Trades
Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was constructed in 2004 and fully renovated in 2015. The community is licensed to accept Enhanced Assisted Living Residents. It experienced recent occupancy increases. Multiple offers for the community were procured, with a growing regional owner based in the Northeast selected as the buyer. There were issues between LOI and closing, but Buzin and... Read More »
Seniors Housing Investment Vehicle Acquires First Asset
Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50 assisted living and 16 memory care units. Also located on the campus is a historical site, Washington’s Tavern, built in the 1700s as a barn for a mill farm, which has now been repurposed to a dining and event space for residents. LCS manages the property. According to LevinPro LTC, the community was previously sold by Walton Street Capital and... Read More »
Management Transfer Includes Purchase Option
A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the real estate of the campus. So, Giannini secured a long-term, triple-net lease with a new operating partner. The agreement included a purchase option. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
