Joint Venture Acquires High-Quality Asset Near Philly
Alex Florea, Steve Thomes, Kevin Lukehart and Kory Buzin of Blueprint were engaged by a national private equity investor in its divestment of a Class-A, newer-vintage seniors housing community in King of Prussia, Pennsylvania. Built in 2021, the high-rise community offers 190 independent living, assisted living and memory care units. Despite the modern physical plant and desirable sub-market, the community was not stabilized at the time of sale. That makes for an attractive turnaround opportunity that likely drew a healthy bidding environment. Blueprint targeted a subset of experienced and well capitalized investors, owner/operators and REITs and received multiple all-cash offers from a... Read More »
Meridian Senior Living Enters Colorado
JLL Capital Markets completed the sale of Pine Grove Crossing, a 127-unit assisted living and memory care community in Parker, Colorado. Built in 2018, Pine Grove offers 100 AL and 27 MC units in a three-story building across 4.41 acres. At the time of sale, it was 90% occupied. The seller was a real estate private equity group, while an affiliate of Meridian Senior Living purchased the community in a joint venture with a state pension fund institutional investor. The plan is to implement capital improvements to enhance resident amenities, including upgrading dining areas and outdoor spaces. Meridian now operates more than 46 seniors housing and care properties in 16 states.... Read More »
Legend Senior Living Acquires in OK and Secures Financing
Berkadia Seniors Housing & Healthcare facilitated the sale and financing of a 90-unit assisted living and memory care community in Edmond, Oklahoma. Built in 2016, the community features 58 AL and 32 MC units and is among the newest seniors housing communities within the Oklahoma City market, which has seen minimal new development over the past four years. The buyer was Legend Senior Living, which will rebrand the community as Legend of Edmond. It was formerly known as StoneCreek of Edmond Assisted Living and Memory Care. Cody Tremper, Dave Fasano, Ross Sanders and Mike Garbers of Berkadia represented the seller, StoneCreek Real Estate Partners. Rafael Nobo and Alex Rosenfeld of... Read More »Zanziper Family Trust as the Largest SNF Operator in North Carolina
Zanziper Family Trust has established itself as the largest skilled nursing facility operator in North Carolina, controlling 38 facilities across the state according to the latest CMS data from January 2025. This significant presence in North Carolina represents nearly half of the trust’s nationwide portfolio of 82 healthcare facilities. Portfolio Overview and Ownership Structure The trust’s healthcare holdings extend beyond North Carolina, with a presence in Kentucky (20 facilities), Florida (12 facilities), Tennessee (10 facilities), and Virginia (2 facilities). While primarily focused on skilled nursing facilities with 81 properties in this sector, Zanziper Family Trust also... Read More »
SLIB’s Recent Activity
Senior Living Investment Brokerage announced a couple of closings involving older assisted living communities. First, Daniel Geraghty, Bradley Clousing and Dave Balow represented a Northeast-based owner that was looking to recycle capital and focus on its core assets. It chose to divest Brookside Stone Mountain, a 40-unit assisted living/memory care community in Stone Mountain, Georgia. Built in 1995 and renovated in 2016, the community features an outdoor courtyard with walking paths as well as an outdoor garden area. Occupancy was around 73% based on units, and the community was operating close to breakeven at the time of the sale. SLIB had previously sold this asset two separate times... Read More »
Silverado Senior Living Secures Financing
Silverado Senior Living acquired two memory care communities with the help of acquisition financing closed in part by Capital Funding Group. Silverado had previously managed both communities prior to the deal. The transaction was funded by senior and junior debt totaling $32.25 million. Part of that was a $9.95 million subordinate loan closed by CFG. Silverado also established a new lending relationship by closing the loan with CFG. Read More »
Sunrise Senior Living-Operated AL Community Changes Hands
A Sunrise Senior Living-operated assisted living community in Franklin Lakes, New Jersey, found a new owner with the help of the Seniors Housing team and the New Jersey team at JLL Capital Markets. Built in 2021, Sunrise of Franklin Lakes offers 51 assisted living and 37 memory care units in studio, one- and two-bedroom layouts, with semi-private options for memory care. JLL represented the seller and procured the undisclosed buyer in the transaction. Sunrise was retained as the property’s manager. Read More »
Owner/Operator Purchases SNF Portfolio
An Ohio-based owner/operator engaged Evans Senior Investments to sell a portfolio of skilled nursing facilities in the greater Akron area. The owner had been looking to recycle capital and successfully sold the three properties consisting of 249 skilled nursing beds and 161 seniors housing units. They included The Briarwood in Stow (built in 1991), Jackson Ridge in Canal Fulton (built in 1978) and Glenwood Care in Canton (also built in 1978). All three properties had assumable HUD debt, generating significant interest from investors during the marketing property. A growing owner/operator with a strong presence in the state was ultimately selected. The purchase price was not... Read More »
Tutera Senior Living Acquires in Illinois
Tutera Senior Living & Health Care announced its latest acquisition involving a 75-unit assisted living/memory care community in Matteson, Illinois. Built in 2021 for a cost of around $21 million, or $280,000 per unit, the community formerly operated under the name Alexi Senior Living for just eight months before closing in 2022. Tutera is making improvements and will reopen the community in early Spring. Since December 2024, Tutera has already invested $200,000 upgrading the community’s safety and mechanical equipment, systems and protocols with the assistance of Arch Design Builders. In addition, Tutera is completing minor remodeling and refreshing to enhance the property’s new and... Read More »
Joint Venture Secures Financing
Live Oak Bank provided financing for the acquisition of Whisper Woods of Smithtown by a joint venture between National Development and Benchmark Senior Living. The previous owner, Sculptor Real Estate, refinanced the property in 2023. Live Oak provided that $29 million loan as well. Built in 2018, Whisper Woods is a 125-bed assisted living and memory care community in Suffolk County, New York. There are 71 AL units and 30 MC units across studio, one- and two-bedroom floorplans. National Development and Benchmark also recently broke ground on an 86-unit (63 AL and 23 MC) seniors housing community in Scotch Plains, New Jersey. This marks the developer’s entry into the state. Opening is... Read More »Schedule a demo
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