• 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 »

  • Forbright Bank Closes Three Bridge Loans

    by | Apr 16, 2024 4:00 pm | Acquisitions, Financings | 0 comments

    Forbright Bank’s Healthcare Lending team closed three new bridge loans in the first quarter of 2024 to help finance the acquisition of two assisted living communities and two skilled nursing facilities in the Southeast and Midwest. In total, the properties comprised around 500 beds and ranged in age from a few years to 15 years old. Renovations... Read More »

Griffin-American starts small

by | Feb 17, 2016 8:30 am | Acquisitions | 0 comments

After a busy year during which it made over $1.55 billion in healthcare acquisitions, Griffin-American Healthcare REIT-III recently made a relatively small deal in central Pennsylvania, acquiring a 120-unit independent/assisted living community in Palmyra for an undisclosed price. Built in 2007, this community was owned by AMC Delancey Group, Inc. and Heritage Senior Living, which will continue to operate under Griffin-American. Occupancy stood at 93% at the time of the sale. Joshua Jandris, Mark Myers, Charles Hilding and Andrew Hilding of Marcus & Millichap handled the transaction. Read More »

Keeping the pace

by | Feb 3, 2016 8:30 am | Acquisitions, Financings | 0 comments

Aron Will of CBRE had yet another prolific month (after an already busy 2015), closing four transactions. Included in his totals were two acquisition financings (for the MorningStar Senior Living Colorado portfolio and Capitol Seniors Housing’s Seattle-area acquisition) already detailed in previous weeks. Mr. Will also recently arranged a $32.3 million 10-year Fannie Mae loan, with a fixed interest rate and 54 months of interest-only. The borrower, Westmont Living, will use the funds to refinance its 138-unit independent/assisted living community in Chico, California. Already with a 94% occupancy rate at the community, Westmont may look to convert a number of units to memory care in order... Read More »

Three high-priced acquisitions in PA

by | Jul 17, 2015 8:31 am | Acquisitions | 0 comments

In a sale-manageback transaction, a non-traded REIT purchased three senior living communities with 328 total units in Pennsylvania from Heritage Senior Living for $87.5 million, or $266,800 per unit. Compared to the average price paid for AL/IL communities of $198,800 in the trailing-12 months ending Q1:2015 (according a supplemental report for the Senior Care Acquisition Report), this represents a significant premium. The properties, located in York, Bethlehem and Harleysville, Pennsylvania, offered independent living, assisted living and memory care services, and were well occupied at the time of the sale. Mark Myers of Marcus & Millichap handled the transaction. Read More »