CBRE’s Recent Deal Haul
CBRE had quite the month in November, with its National Senior Housing team announcing four separate sales totaling about $400 million, and its Senior Housing Debt and Structured Finance team closing over $215 million in debt in November. Aron Will and Austin Sacco facilitated the debt transactions, while Lisa Widmier represented the three different sellers in the four transactions. The acquisitions involved eight properties in five states, with more than 960 units comprising independent living, assisted living and memory care services. They sold for an average price per unit of about $411,000. All of the properties, except for one, were in different stages of initial lease-up, making that... Read More »
Christian Living Communities Adds to Colorado Portfolio
Christian Living Communities, a Denver-based not-for-profit owner/operator of senior living communities across the country, added a 26th property to its portfolio. Located in Grand Junction, Colorado (just east of the Utah border), the community features 40 assisted living and 26 memory care units. Assisted living rents range from $4,450 a month for a studio to nearly $6,600 per month for a two-bedroom unit, while monthly memory care rates started at $6,620 and went as high as $7,030. Additional care fees can also add $535 to $1,535 a month to the bill. That’s a pretty high price point for the area. Confluent Senior Living developed the property in 2017 at a cost around $12.5 million, or... Read More »