• Pacific Companies Acquires National Portfolio

    by | Apr 19, 2024 3:20 pm | Acquisitions

    Pacific Companies, LLC, a privately owned real estate private equity firm based in San Diego, California, acquired the majority of the not-for-profit Retirement Housing Foundations market-rate seniors housing and skilled nursing assets. Ziegler served as exclusive sell-side advisor to RHF on the transaction, which closed in phases throughout late... Read More »

  • Owner/Operator Chooses Refinance Over Sale

    by | Apr 19, 2024 3:19 pm | Financings

    A national owner/operator faced with an underperforming seniors housing property in Missouri and maturing debt on the property secured a refinance thanks to JD Stettin of Carnegie Capital. The borrower, which has over 30 properties in its portfolio, acquired the 45-unit assisted living community in late 2017.  Occupancy and cash flow... Read More »

  • Two Seniors Housing Communities in Indiana Trade Hands

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

    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

    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

    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 »
Lone Star Funds Acquires Minnesota Portfolio

Lone Star Funds Acquires Minnesota Portfolio

by | Feb 25, 2022 4:30 pm | Acquisitions

Lone Star Funds picked up a portfolio of five seniors housing communities in the Minneapolis, Minnesota MSA, representing the largest-ever seniors housing portfolio deal in the state, according to our database. Developed and owned by Minnetonka-based Roers Companies, a multifamily-focused real estate company, the “A” quality communities total 567 units of independent living, assisted living and memory care. There are plenty of amenities, including golf simulators, indoor parking (a must in Minnesota) and fitness centers.   They were all completed between September 2019 and April 2021, and occupancy was generally strong at the more established locations. The pandemic affected occupancy at... Read More »
Newmark’s Coast-to-Coast Closings

Newmark’s Coast-to-Coast Closings

by | Sep 2, 2021 3:58 pm | Acquisitions

Newmark crisscrossed the country to find buyers for a few seniors housing communities at the end of August. First, representing Healthpeak Properties in another one of the REIT’s divestments, the Newmark team sold a 160-unit CCRC in Northridge, California that was formerly operated by Brookdale Senior Living. Originally built in 2001, the community has grown over the years to include 91 assisted living, 24 memory care and 45 skilled nursing units. Pacifica Senior Living bought it for $29 million, or $181,000 per unit. Next, Newmark reported the sale of two Fort Myers-area assisted living/memory care communities to Lone Star Funds for $51.5 million, or $192,900 per unit. Previously owned by... Read More »

The end of the Sunwest Management saga

by | Apr 1, 2015 8:03 pm | Acquisitions, Financings

At long last, the end of a saga. The final Sunwest Management properties of the portfolio purchased by Lone Star, have been sold, and it was somewhat of a unique sale. For reasons that are too detailed to discuss, the properties were the last ones in a private REIT established years ago by the seller, and the sale had to be the purchase of the entity as opposed to the purchase of the outright real estate. SilverStone Health Care Real Estate figured out a way to get it done, and they closed on this portfolio for about $112,000 per unit. The portfolio included a 340-unit IL/AL/MC campus in the Peoria/Sun City area of Arizona and a 148-unit AL/MC community in Yuma, Arizona. The total purchase... Read More »