Cushman & Wakefield Assists in Assisted Living Disposition

As part of a larger effort to exit several non-core assets, an institutional owner decided to sell its 112-unit assisted living/memory care in Mount Vernon, Illinois (about 80 miles southeast of St. Louis), with the help of the Richard Swartz, Jay Wagner, Jim Dooley and Sam Dylag of Cushman & Wakefield. Built in phases from […]

Heavenrich Closes Sale To Summit Healthcare REIT

Brian Clark of Heavenrich & Company just sold a 77-unit assisted living/memory care community in Chandler, Arizona (Phoenix MSA) for $13.4 million, or about $174,000 per unit. Mr. Clark represented the stand-alone not-for-profit seller, Pennington Gardens, in the community’s sale to Summit Healthcare REIT, a public non-traded REIT. Built in 2000, the community was 87% […]

Griffin American Gains St. Louis-Area Senior Living Communities

Griffin-American Healthcare REIT IV, Inc., is moving into the St. Louis MSA on a large scale, but on the other side of the Mississippi River. Featuring 221 units and five independent/assisted living properties in Columbia, Millstadt, Red Bud and Waterloo, Illinois, the portfolio is 100% private pay and will be operated by an affiliate of […]

Recap with MidCap

A few years after acquiring an independent living community in Payson, Arizona (located in the middle of the Tonto National Forest), Compass Senior Living is refinancing the property, with the help of MidCap Financial. Originally built in 2006 by a not-for-profit operator, this 50-unit community was eventually sold to Compass in 2014. Since then, occupancy […]

Public REITs can sell seniors housing assets too

We’ve read a lot about public REITs shedding their skilled nursing assets, but that’s not all they’re selling. A publicly traded REIT sold a pair of West Coast assisted living communities for $23 million, or $365,079 per unit. There is a 48-bed/24-unit assisted living/memory care community in Corvallis, Oregon, and a 78-bed/39-unit AL community in […]

Four Green Bay-area properties sold

Jacob Gehl of Blueprint Healthcare Real Estate Advisors led the sale of a portfolio of four assisted living/memory care communities in Wisconsin for $18.35 million, or $146,800 per unit, with an 8.7% cap rate. Included in the portfolio were three properties in Green Bay, including a 20-unit stand-alone memory care community, and one in Appleton. […]