Haven Senior Investments Handles Two AL Transactions
Haven Senior Investments announced a couple of seniors housing closings within a matter of weeks. The two deals featured small assisted living communities owned by families looking to exit the industry, a common theme of sales in the last year. Haven’s Rebecca Van Wieren and Robin Gestal handled the transactions. First, the team sold a newly built assisted living community in an affluent suburb of San Antonio, Texas. A husband and wife team of doctors with a passion for caring for seniors built the community in 2017, but decided to sell and pass the baton to another operator more focused on seniors housing. The Type-A community features 40 beds in 28 units (with a bathroom in each unit),... Read More »
Blueprint Arranges Tampa Bay Community Sale
Blueprint Healthcare Real Estate Advisors has announced the sale of a seniors housing community in the greater Tampa area of Florida. Built in 1960 and located in the densely populated area of St. Petersburg, this community comprises 57 units of both assisted living and memory care. Working on behalf of the publicly traded REIT seller, Blueprint positioned the property as a value-add opportunity that benefited from a recent $500,000 investment in capital improvements. The ultimate buyer of the community was a local owner/operator looking to grow its seniors housing footprint in the Tampa area. Kyle Hallion and Michael Segal of Blueprint Healthcare Real Estate Advisors handled the... Read More »
Two Memory Care Communities Sell in Oklahoma
Blueprint Healthcare Real Estate Advisors was engaged by a regional owner/operator to sell a pair of memory care communities in Oklahoma City and Tulsa, Oklahoma. Built in 2015 and 2016, the communities each comprise 54 units and were fully stabilized in 2018 and 2019. Both communities were resilient through the pandemic, and rebounded to near 100% occupancies at the time of marketing in mid-2022. The seller received multiple offers throughout the transaction process, ultimately going with a Texas-based owner/operator focused on standalone memory care in the region. Blueprint Capital Markets worked on behalf of the buyer to evaluate a targeted list of primarily local and regional banks, as... Read More »
Reliq Health Technologies Adds 30 SNF Clients
Reliq Health Technologies, a global healthcare technology company involved in virtual care, announced that it added 30 new skilled nursing facility clients to a previously disclosed contract with a large healthcare network in Florida. The deal is expected to result in over 3,000 new patients per month using Reliq’s iUGO Care platform, which includes transitional care management, remote patient monitoring, chronic care management and behavioral health integration modules. The company also signed a new contract with a large allergy and respirology clinic in Texas that is expected to add 5,000 patients to the platform by the end of 2023. In total, the new patients, including from the SNFs,... Read More »
Ziegler Finances South Carolina CCRC Expansion
Ziegler closed $29.2 million in Series 2023A and B bonds for Bishop Gadsden Episcopal Retirement Community, a not-for-profit CCRC on James Island in Charleston, South Carolina. The financing will help fund the construction of an independent living expansion on the campus and comes four years after Ziegler also helped finance the construction of a replacement health center and renovation/expansion of the campus’s assisted living portion. Bishop Gadsden opened in 1987 on land donated by St. James Episcopal Church, and now includes 268 independent living units, 79 assisted living units, 32 memory care units, 32 post-acute skilled nursing beds, and 68 long-term care beds on 125 acres. The... Read More »
Erickson Senior Living Planning Big Tampa Bay Project
It may be up for debate exactly when seniors housing development kicks back into high gear to prepare for the oncoming baby boomers, but Erickson Senior Living is planning its next project at its typically large scale to include more than 1,000 units of seniors housing in Lakewood Ranch, Florida. The company is seeking site approvals from Manatee County to build 1,020 independent living units in addition to a 250-bed skilled nursing facility on the site. Phase I of the project would include 660 apartments, and phase II would consist of 360 units along with parking, utility and stormwater infrastructure. There would also be pedestrian bridges that would connect the 10 buildings. Completion... Read More »
1031 Crowdfunding Enters Utah Market
1031 Crowdfunding announced the acquisition of its first seniors housing communities in the state of Utah. The two assets combine for a total of 178 units of assisted living and memory care. Built in 2011 and 2016 respectively by the same developer, Spring Gardens St. George and Spring Gardens Lindon total 156,473 square feet across 5.8 acres. Both communities are on seven-year leases, and are within a four-mile radius of local hospitals. Occupancy remained strong throughout the pandemic, and the assets were at or above 97% occupancy with a combined EBITDAR exceeding $2.25 million. Avista Senior Living operates both communities and will continue to do so under new ownership. Jacob Gehl,... Read More »
Stellar Senior Living Acquires Assisted Living Community in Utah
Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in South Jordan, Utah. Built in 2018, Anthology of South Jordan comprises 103 units of independent living, assisted living and memory care, and sits on 3.7 acres in the greater Salt Lake City area. The new owner is Stellar Senior Living, which renamed the community to Copper Creek Senior Living. Utah-based Stellar Senior Living is a family-owned senior living provider operating 28 senior living communities in nine states in the western United States. The seller of the community was Anthology Senior Living, the seniors housing arm of global developer, CA Ventures. Alex Florea, Amy Sitzman, and... Read More »
Lument Refinances Sacramento-Area Assisted Living Community
Lument closed a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento, California. Nick Hamilton, Casey Moore and Doug Harper led the transaction for Lument. A repeat Lument client refinanced its existing Fannie Mae loan with a new seven-year loan that features a 30-year amortization and a low, fixed interest rate. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit AL/memory care community that was also refinanced in 2016 by Lument. When it first opened, Carlton Senior Living was serving high acuity AL residents, but in 2021, the sponsor altered its strategy... Read More »
Dwight Capital Announces 4th Quarter Activity
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $191 million in seniors housing and healthcare financing during the fourth quarter of 2022. One highlight included a $39 million bridge loan to facilitate the acquisition of a two-property skilled nursing portfolio in Fort Lauderdale, Florida: Manor Oaks and Manor Pines. The facilities are three miles apart and comprise 322 beds across approximately 111,800 square feet. Adam Offman originated the transaction. Mr. Offman also originated a $24.2 million bridge refinance for a portfolio of two SNFs in Columbus and Rome, Georgia: River Towne Center and Etowah Landing. Together, the facilities have 310 beds and encompass... Read More »Schedule a demo
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