Walker & Dunlop Handles California Closing
In February, Tony Cassie, Brant Nelson and Sam Thompson of Walker & Dunlop facilitated the sale of a seniors housing community in Concord, California. The seller, a joint venture between a local private investor group and Agemark Senior Living, purchased the community in 2018 and conducted extensive renovations while turning around operations. Built in the 1970s as a nursing home, the community comprises 100 assisted living and memory care units. At the time of sale, occupancy was 98%. CareTrust REIT, in partnership with Kalesta Healthcare, acquired the community for $20.5 million, or $205,000 per unit. Read More »
Joint Venture Acquires in Georgia
Senior Living Investment Brokerage handled the sale of a seniors housing community in Dallas, Georgia. The seller was the existing lender that had foreclosed on the asset. Built in 2013, the community comprises 88 assisted living and memory care units, totaling 66,961 square feet across 3.88 acres. It was 65% occupied at the time of sale, and the community’s profitability could be improved. The buyer was a joint venture between a regional operator and an institutional capital partner. The asset fits its footprint and expertise, and the partnership intends on making a significant renovation and rebranding of the operation to reposition and stabilize the community. Bradley Clousing and... Read More »
Public REIT Divests Standalone MC Community to an Owner/Operator
A publicly traded REIT engaged Blueprint in the divestment of its vacant seniors housing community in Houston, Texas. Built in 1995 and renovated in 2009, the community comprises 48 memory care units. It was vacated by the prior operator in 2023, but current ownership has ensured the physical plant was well maintained to prevent deterioration. Giancarlo Riso, Brooks Blackmon, Amy Sitzman and Lauren Nagle handled the transaction, securing multiple competitive offers and ultimately advising the REIT to move forward with an all-cash offer from an owner/operator that Blueprint transacted with earlier in the year. Read More »
Green Courte Acquires Colorado Active Adult Community
Green Courte Partners’ sixth investment fund, Green Courte Real Estate Partners VI and its affiliates, acquired an active adult community. 55 Resort at Water Valley comprises 120 units in Windsor, Colorado, just north of Denver in the Water Valley master-planned development. The community will be rebranded as Eagle’s Peak at Water Valley. This acquisition expands GCP’s national senior living portfolio, managed by its wholly owned operating platform, True Connection Communities, to 21 communities with approximately 3,300 units. GCP is committed to acquiring similar communities as it grows its active adult portfolio. Read More »
Spring Arbor Living and Allegro Management Company Merge
Lisa Widmier of Vant.Age Pointe Capital Management & Advisory, which has executed several billion dollars in transactions under Widmier, facilitated the merger between Spring Arbor Senior Living and Allegro Management Company, which have come together under a new holding company, Allegro Living. Allegro Living will serve seniors in 53 seniors housing communities across 13 states in the Northeast, Mid-Atlantic, Southeast and Midwest. Spring Arbor adds its 35 communities and more than 2,200 units to Allegro’s 18 communities and more than 2,300 units. These communities will continue to operate under the same name and same team, as the goal of the merger is growth rather than... Read More »
Owner/Operator Divests Skilled Nursing Portfolio in Massachusetts
Evans Senior Investments (ESI) facilitated the sale of six skilled nursing facilities comprising 722 beds in Massachusetts. The seller was a Massachusetts-based owner/operator. The buyer is one aligned with the seller’s strategic goals, and emerged through a competitive three-week marketing process that attracted strong interest from institutional investors and regional operators. A key factor in the deal was ESI identifying more than $10 million in potential NOI. Read More »
Kentucky and Connecticut SNF Sell in Separate Transactions
Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties handled two separate deals, one in Kentucky and one in Connecticut. First, in an off-market transaction, Forest facilitated the sale of a skilled nursing facility with 150 beds in Lexington, Kentucky. The facility had positive EBITDAR and cash flow at the time of the sale. After receiving five written offers from regional and local groups, the ultimate emerging buyer was a repeat client of both Forest and the seller, a large private healthcare group with an existing footprint in the state. This was the seller’s only asset in Kentucky. Next, Vegh and Schiff, in another off-market transaction, were engaged by a mom & pop... Read More »
Wachusett Healthcare Acquires in Connecticut
Waschusett Healthcare, a provider of skilled nursing and rehabilitation services in Connecticut, acquired Beechwood Post Acute and Transitional Care. Built in 1898, Beechwood is in New London, Connecticut, with 60 beds. The purchase price was not disclosed. Waschusett has served as a consulting partner to Beechwood for the past three years. Read More »
Greystone Provides a Rhode Island SNF Portfolio with Financing
Greystone provided $29.9 million in bridge financing for the acquisition of a portfolio of six skilled nursing facilities in Rhode Island. The bridge financing was originated by Ryan Harkins and Christopher Clare, both Managing Directors at Greystone. The skilled nursing facilities include Bayberry Commons (120 beds in Pascoag), Eastgate Nursing & Rehabilitation Center (76 beds in East Providence), South Kingstone Nursing & Rehab Center (112 beds in West Kingston), West Shore Health Center (149 beds in Warwick), Village House Nursing & Rehabilitation Center (95 beds in Newport) and Elmwood Nursing & Rehabilitation Center (70 beds in Providence). Read More »
Solinity’s Recent Announcement
Solinity, a seniors housing developer, named William H. Holly and John Moore as Partners in Development to spearhead investor relations in the growth of the company’s development and acquisition pipeline. Solinity has a $300 million pipeline for new development and community acquisitions in the southeastern United States for expansion in 2025. Josh Crisp, Founder and CEO, is the visionary of the development pipeline, which includes plans for multigenerational and mixed use age friendly communities designed to meet the needs of the aging population. With over three decades of industry experience, and a native of Coral Gables, Holly began his career with the Codina Bush Group before holding... Read More »Schedule a demo
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