• Two Seniors Housing Communities in Indiana Trade Hands

    by | Apr 18, 2024 3:31 pm | Acquisitions | 0 comments

    Blueprint facilitated the divestment of two seniors housing communities in northwest Indiana. The value-add communities are in Michigan City and Merrillville and comprise 119 assisted living and memory care units. They had strong pre-pandemic financial performance but more recently benefited from a substantial Medicaid Waiver reimbursement rate... Read More »

  • Artemis/Bridgewood Acquire Texas Portfolio

    by | Apr 18, 2024 11:38 am | Acquisitions | 0 comments

    CBRE was engaged in the sale of four seniors housing communities in the Dallas, Texas MSA: Village on the Park Plano (Plano), Village on the Park Denton (Denton), Village on the Park Stonebridge Ranch (McKinney) and Village on the Park McKinney (McKinney). The communities comprise 366 total units of assisted living and memory care and were built... Read More »

  • Oklahoma Deal Overcomes Last-Minute Obstacles

    by | Apr 18, 2024 11:35 am | Acquisitions | 0 comments

    Plains Commercial Real Estate facilitated the sale of a skilled nursing facility in Oklahoma. The SNF was under legacy ownership and management, but the seller opted to divest to enter retirement and effectively exit the sector. Built in the 1960s, Latimer Nursing Home in Wilburton features 48 beds and occupancy hovered around 63% at the time of... Read More »

  • The Lodge at Mallard’s Landing Secures Refinancing

    by | Apr 18, 2024 11:33 am | Financings | 0 comments

    Northmarq handled a $35 million refinance of a senior care campus in Gig Harbor, Washington. Built in two phases from 2010 to 2015, The Lodge at Mallard’s Landing features 147 private pay independent living, assisted living and memory care units. The three-story main building comprises 98 IL/AL units and 24 IL cottages. The separate, two-story... Read More »

  • Bascom’s First Seniors Housing Acquisition of 2024

    by | Apr 16, 2024 4:01 pm | Acquisitions, Financings | 0 comments

    The Bascom Group, a private equity firm specializing in value-add multifamily, commercial and non-performing loans, real estate-related investments and operating companies, acquired a seniors housing community in Boulder City, Nevada, to expand its portfolio. This marks its fifth acquisition of 2024, but first in seniors housing, following the... Read More »
Walker & Dunlop Finances Arcapita-Owned Assisted Living Communities

Walker & Dunlop Finances Arcapita-Owned Assisted Living Communities

by | Apr 23, 2019 2:21 pm | Financings | 0 comments

Just over three years since buying three assisted living communities in Colorado, Middle East-based alternative investment fund manager Arcapita is refinancing them with the help of the team of Stuart Wernick, Jeff Ringwald and Bill Jackson of Walker & Dunlop. Operated by MorningStar Senior Living since opening in 2013 and 2014, the communities were nearly stabilized when they were acquired in December 2015 for a combined $79.5 million, or just over $400,000 per unit. Two of the communities feature a combination of assisted living and memory care units in Colorado Springs and Centennial, and the third property (also in Colorado Springs) serves exclusively memory care residents. In all,... Read More »
Cushman & Wakefield Sells CCRC Portfolio

Cushman & Wakefield Sells CCRC Portfolio

by | Aug 17, 2018 7:02 am | Acquisitions | 0 comments

It is amazing what patience, capital, expertise and desire can do to change things around for a few bankrupt entrance-fee CCRCs. We are referring to Sedgebrook in Lincolnshire, Illinois and Monarch Landing in Naperville, Illinois that fell into bankruptcy in 2010 and were sold in an auction process for a combined total of about $39.25 million. They had been built by the former Erickson Retirement Communities, which itself filed for bankruptcy protection after problems with too much debt and too many new units to fill during the Great Recession, although these two CCRCs were outside the corporate bankruptcy. Monarch Landing was supposed to be built with 1,498 IL units, 84 AL units and 132... Read More »
CBRE sells MorningStar trio

CBRE sells MorningStar trio

by | Jan 19, 2016 8:16 pm | Acquisitions, Financings | 0 comments

For over $400,000 per unit, a joint venture between MorningStar Senior Living and Arcapita, a Bahrain-based global investment manager, purchased (in two transactions) a portfolio of three newly built assisted living/memory care communities in Colorado. One of the properties, a community in Jordan with 55 AL units and 29 MC units, opened in July 2014 and was already 80% occupied at the time of the sale. It sold for approximately $34.5 million, or $411,000 per unit. While the other two properties, located in Colorado Springs, included a 48-unit MC community that opened in September 2014 and an already stabilized community with 45 AL units and 19 MC units that opened in late 2013. Combined... Read More »

CBRE arranges financing for 15-CCRC portfolio

by | Jun 17, 2015 8:51 am | Financings | 0 comments

Aron Will, Mitchell Kiffe and Matthew Whitlock of CBRE arranged $410 million in financing on behalf of NorthStar Healthcare Income and The Freshwater Group/Watermark Retirement Communities to purchase a portfolio of 15 rental and entrance fee CCRCs. The seller, Fountains Senior Living, a subsidiary of Arcapita, had previously hired Watermark as the day-to-day operator of the portfolio, which consists of six entrance-fee and nine rental CCRCs with 3,663 total units (with 2,330 independent living units, 945 assisted living units, 156 memory care units and 320 skilled nursing beds in 232 rooms). NorthStar will lease the entrance fee properties to affiliates of The Freshwater Group, pursuant... Read More »