Meridian Moves into Central California Communities

Griffin-American Healthcare REIT IV found a new operator in Meridian Senior Living for three of its northern California communities. Acquired as part of a five-property portfolio acquisition in June 2017 from Nazareth Healthcare, these communities were then leased to Colonial Oaks under a 15-year absolute net lease with annual rent escalators of 6.5% after the […]

Another Missouri Purchase For Griffin-American Healthcare REIT IV

Griffin-American Healthcare REIT IV returned to Missouri yet again to acquire an assisted living community in the St. Louis suburb of Warrenton. The single-asset transaction follows two portfolio deals for the REIT in the Show Me State, which included eight skilled nursing facilities bought for $88.2 million and two skilled nursing facilities that were a […]

Senior Living Investment Brokerage’s Summer Surge

As the temperatures rose, the team at Senior Living Investment Brokerage heated up too, following up its portfolio closing in Florida with two deals in the Lone Star State. First, in east Texas, Matthew Alley worked with an independent owner/operator to sell their long-held skilled nursing facilities in Grand Saline and Athens. Built in the […]

LTC Properties, Affinity Living Group & Sunwest Management

The story of Sunwest Management keeps creeping up in the news, although not in a bad way this time, as a former Sunwest assisted living/memory care community in Spartanburg, South Carolina, just sold to a joint venture between LTC Properties and Affinity Living Group. Originally built by the former Manorhouse Retirement Communities in 1999, the […]

Griffin-American and Greystone

A month ago, we learned of a couple of large divestments by New Senior Investment Group, in a move to bring its share price up to where management believes it should be, by increasing the share of its independent living portfolio, decreasing its Holiday Retirement exposure, and reducing its concentration in the three states of […]

Mike Pardoll’s Southeast Swing

Marcus & Millichap’s Mike Pardoll crisscrossed the Southeast to close two transactions. First, Mr. Pardoll sold a 99-unit independent living community in Durham, North Carolina for $15.8 million, or about $160,000 per unit, with a 6.3% cap rate. Originally built as a hotel in 1985, the building was purchased in 2012 and converted to independent […]

Two Utah Assisted Living Communities Sell

Paying $26.5 million, or $236,500 per unit, a real estate investment firm acquired two assisted living communities in southern Utah. Under “The Retreat” brand, these communities are both located in the town of St. George (in Washington County). Built in 2012, The Retreat at SunRiver has 48 units (36 assisted living and 12 memory care) on […]

Acquiring in the Acela Corridor

As we are about to travel from the New York City area to Washington, D.C. for the upcoming NIC Fall Conference, we must take note of two teams that did that trek probably a number of times recently. Grandbridge Real Estate Capital provided through its proprietary lending platform, BB&T Real Estate Funding, a $43.5 million […]

Seven sales in North Carolina

Mike Pardoll of Marcus & Millichap burst out of the gate in July, arranging the sale of seven senior care properties (six assisted living and one skilled nursing facility) in North Carolina in three separate transactions, totaling almost $43 million. The first was the sale by a not-for-profit foundation of five assisted living properties with […]

Berkadia secures $93 million in financing

We wrote last month of ROC Seniors Housing Fund Manager’s purchase of 14 senior living properties with 1,038 units from a joint venture between Iron Point Partners and Meridian Senior Living for an undisclosed price. The portfolio was mostly assisted living (719 units), with 208 memory care units and 111 independent living units as well. […]