Capital Health Group and AEW Capital Management Sell Florida Communities

We just learned of the sellers in Sino-Ocean Capital and Meridian Senior Living’s acquisition of two seniors housing communities in Florida. After funding the land acquisition and development of the two communities, Capital Health Group and AEW Capital Management are selling the properties for an undisclosed amount. The deal involved a 106-unit community in Fort Lauderdale built […]

Sino-Ocean Capital and Meridian Senior Living Acquire Two More Properties

A joint venture between Sino-Ocean Capital and Meridian Senior Living engaged Capital One to serve as administrative agent for a large multi-purpose financing package. The $108.9 million loan will be used to both finance the purchase of two seniors housing communities in Florida and refinance a previous Capital One loan that the JV used to […]

Meridian-Operated California Community Gets a New Owner

Three years after acquiring a struggling assisted living/memory care community in Rancho Cucamonga, California, a Chicago-based private equity group is exiting the asset, and leaving the community in better shape. Originally built in 2002, the 86-unit community features 62 assisted living and 24 memory care units across four free-standing buildings. Occupancy was a solid 86%, […]

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 […]