• Value-Add AL/MC Community Trades

    An institutional owner decided to divest a non-core asset, and engaged Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage to run the sale process. The asset is located in Hillsboro, Oregon (Portland MSA), and features 36 assisted living and memory care units, with 62 licensed beds. It was built in... Read More »
  • Brookdale Divests California Community to Public REIT

    Blueprint was engaged by an institutional, national owner/operator in the strategic disposition of a large rental CCRC in Bakersfield, California. The 20-acre campus was developed in 1999 and provides the whole continuum of care, including independent living, assisted living, memory care and skilled nursing across three large buildings and... Read More »
  • Two Midwest Assets Trade

    A couple of seniors housing communities traded in the Midwest, selling to a couple of growing owner/operators. First, in the Indianapolis area, The Kiser Group’s Mark Myers and SVN | Senior Living Advisors’ John Klement led the sale of a 157-unit seniors housing community featuring a mix of independent living, assisted living and memory care... Read More »
  • Assisted Living Portfolio Closes in Wisconsin

    Bob Richards of Senior Care Realty recently completed the sale of a five-property assisted living portfolio in Wisconsin, closing the deal in multiple tranches. Richards had worked with the seller, AC Capital, for 15 years, helping them grow their portfolio over the years. AC Capital also has self-managed the communities for the last decade. Now,... Read More »
  • 60 Seconds with Swett: Here We Go Again

    AARP just published a report on assisted living, and all I can say is, here we go again. It concludes that “the state of assisted living today is cause for concern for many stakeholders. The lack of national federal standards for care centers creates an underregulated space.” It continues on, stating that the “absence of national oversight,... Read More »
Lancaster Pollard Refinances Mission Senior Living Community

Lancaster Pollard Refinances Mission Senior Living Community

Orix Real Estate Capital may be making some big moves of late, highlighted by its acquisition of Hunt Real Estate Capital, but it hasn’t stopped them from getting back to business closing transactions. Rob McAdams of Orix affiliate Lancaster Pollard Mortgage Company recently helped Mission Senior Living refinance one of its newest senior living communities. Opened in 2018 in Yuma, Arizona, the community features 56 assisted living units, with a mix of studio, one- and two-bedroom options, and 32 private and semi-private memory care units. Amenities include a bistro and coffee bar, movie theater, concierge, barber shop, beauty salon, wellness center, and a private office for visiting... Read More »
Propero Funds Mission Development

Propero Funds Mission Development

Lancaster Pollard’s Propero Seniors Housing Equity Fund III helped fund the construction of a new independent living community in Reno, Nevada. Mission Senior Living is building the community, which will feature 130 total units when it opens in the summer of 2020. A combination of equity provided by Propero and a bank loan funded the $22 million, or $169,200 per unit, construction project. The Propero structure allowed Mission to minimize the amount of upfront capital needed for the development and provides a clear path to ownership. Read More »
Cushman & Wakefield’s Deal Double

Cushman & Wakefield’s Deal Double

Showing off its range of services, Cushman & Wakefield closed a couple of transactions for clients in both Minnesota and Arizona. First up, David Rothschild and Mary Christian sold a high-quality senior living community in Woodbury, Minnesota for $22 million, or $285,714 per unit. Welltower bought the community, which opened in June 2015 with 39 independent/assisted living units, 32 memory care units and six care suites. Oppidan Investment Co. developed the community and had brought in Ebenezer to manage it. However, the buyer will put in place new management, which we believe will be New Perspective Senior Living. Occupancy was heading above 80% at the time of sale. For more... Read More »