Out-of-State Owner Nabs Nebraska Property
Helios Healthcare Advisors sold an assisted living community in Central City, Nebraska, working with the seller and alongside the incoming operator to facilitate a smooth transition. During the transition process, Nebraska implemented an increase in Medicaid reimbursement rates for rural assisted living communities, which strengthened the financial foundation for the new operator. Cottonwood Estates is known for its consistent operating performance and strong reputation. The community comprises 47 assisted living units and 50 beds. It was built in 2007 and totals 37,100 square feet. The buyer was out-of-state individual owner/operator Syed Khizer Husain, who is based in Texas and... Read More »
Fortress Investment Group Sheds Three Communities
Following the acquisition of RoseWood Village at Greenbrier and RoseWood Village at Hollymead in Charlottesville, Virginia, Fortress Investment Group recently announced the divestment of three seniors housing assets in Florida (two) and Arizona. First, funds managed by affiliates of Fortress sold the Sonata Boca Raton and Sonata Vero Beach in Boca Raton and Vero Beach, Florida, respectively, to a public REIT. The two properties comprise almost 180 independent living, assisted living and managed care units in a range of cottages and apartment buildings. Both properties feature on-site amenities including a full-service restaurant, outdoor pool, beauty salon, fitness center, art... Read More »
Not-For-Profit Secures Bond Financing
Ziegler closed Josephine Caring Community’s $77.115 million Series 2025ABC bonds through the Washington State Housing Finance Commission. Josephine Caring Community is a 501(c)(3) not-for-profit corporation in Stanwood, Washington, north of Seattle, Washington. Established in 1908, Josephine owns/operates a 131-bed skilled nursing facility, a 57-unit assisted living home licensed for 65 residents, and an intergenerational child-care program licensed to serve 111 children (the Stanwood Campus). Josephine is using a portion of the bonds to construct the Cascade Village Project, which includes a new independent living community featuring 63 one-, two- and three-bedroom apartments,... Read More »
Unique Upstate NY Community Changes Hands
An independent living community with Enriched Housing Program beds sold in western New York for $4.0 million with the help of Dave Balow and Vince Viverito of Senior Living Investment Brokerage. The Enriched Housing Program (EHP) is a unique designation in New York State, appealing to a wider pool of potential residents than IL alone. Built in 1994, Manor House in Batavia, New York, has 89 independent living units and is additionally licensed for 60 EHP beds. It spans 3.6 acres and comprises 42,070 square feet. The privately-owned property was well maintained with extensive updates in 2009, and there is minimal local competition. It earned around $150,000 of EBITDAR on $2.9 million... Read More »
West Coast-Based Investor Acquires in Kentucky
The Bluegrass Assisted Living Portfolio, which comprises two performing seniors housing communities, sold to a West Coast-based investor. Located approximately 30 miles apart in Bardstown and Elizabethtown, Kentucky, the assets offer assisted living and memory care services. They will be managed by an operator with an existing presence in the state. Daniel Geraghty, Bradley Clousing and Matt Alley of Senior Living Investment Brokerage represented the seller, a Southeast-based owner/operator looking to exit the Kentucky market and concentrate on its core geographic areas. This is the second time the team has sold this two-pack. Read More »
Investor Group Acquires in Oregon
Silver Wave Capital announced its fourth acquisition in the last 12 months, picking up a new seniors housing community in a suburb of Portland, Oregon. The firm, founded by Cory Wake and Elan Ruggill in 2024, made the acquisition with Sherman Capital Partners as a co-GP and another capital partner. Built in 2019, the Class-A community is located in Cedar Mill and features 110 units of assisted living and memory care. It was previously operated by Ciel Senior Living but will be managed by Compass Senior Living going forward under the name The Canopy. It opened as Fieldstone Cornell Landing, a brand that was developed and operated by Bourne Financial Group and Cascade Senior Living,... Read More »
Private Company Acquires Struggling Skilled Nursing Facility
Todd Okum and Nick Martinez of O&M Investments have acquired their seventh skilled nursing facility of the year. Built around 1985, the facility comprises 120 beds and sits west of Palm Beach County, Florida. The seller was a not-for-profit organization, with this divestment marking its exit from the skilled nursing sector, as it sold the last of its five- or six-facility portfolio. At the time of sale, the facility’s occupancy was hovering around 50%. Prior to the pandemic, it was around 80% to 90% occupied, but it struggled with post-COVID recovery. The buyer brought on a regional operator that will help restore the SNF’s census. Closing smoothly, the off-market transaction was... Read More »
Alta Senior Living Obtains Refinance for Tampa Asset
Kristen Ahrens and Pat Maloney of Blueprint facilitated the refinance of The Legacy at Highwoods Preserve. Built in 2015, the 68,281-square-foot building comprises 60 assisted living and 22 memory care units on 9.9 acres in Tampa, Florida. The borrower is a well-established owner/operator with a presence in Florida. Blueprint Capital Markets ran a process to identify viable debt options aligned with the ownership structure and need for non-recourse financing. Ultimately, in conjunction with KeyBank Commercial Mortgage Group, Blueprint arranged a six-year, fixed-rate loan with a prominent life insurance company that allowed supplemental funding on top of the initial loan. Blueprint, in... Read More »
Washington State AL Community Lands HUD Financing
Berkadia arranged 232/223f HUD financing for a 200+ bed assisted living community in Washington State, totaling $26.8 million. In September, Managing Directors Austin Sacco and Steve Muth, along with Senior Director Garrett Sacco of Berkadia Seniors Housing & Healthcare, secured the financing for a repeat Berkadia client, a Pacific Northwest-based sponsor. This HUD loan retires an existing Berkadia bridge loan. The sponsor, which has operated the community since 2017, was able to transition from bridge-to-HUD financing, paying off existing bank debt and capturing equity built from their operations. Read More »
CBRE Originates Financing for Joint Venture
CBRE National Senior Housing arranged the financing for Clearwater at The Heights on behalf of a joint venture between Cerberus, Hines and Clearwater Living. Aron Will, Vice Chairman of CBRE National Senior Housing, and Tim Root, Senior Vice President of CBRE National Senior Housing, originated a three-year, floating-rate bridge loan with full term of interest only through a regional bank. Opened in 2022, the 220-unit community is in Houston, Texas, with independent living, assisted living and memory care services. Amenities feature a fitness center, art studio, library, custom golf simulator, movie theater, outdoor pool, spa and salon services, and downtown skyline views. The community is... Read More »Schedule a demo
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