Myers and Jandris Close Out the Summer in Style
Mark Myers and Josh Jandris of IPA Seniors Housing impressed in the Southeast this month, closing a couple of single-SNF transactions. With an assist from Ryan Fleming, Myers and Jandris first helped a Northeast-based regional owner on its way to divesting itself completely from Kentucky, and from the SNF market as well, with the sale of its facility in Covington (Cincinnati MSA). The facility, with about 80 beds, is one of seven other tenants that operate out of a 100-year old former hospital. It generates just over $800,000 in annual NOI, or about $9,760 per bed, which is slightly above the market average of the last few years, based on sold properties. But the buyer, also a... Read More »New Prudential Fund Secures $110 Million Deal
Prudential Real Estate Investors (PREI) closed on an acquisition of three large assisted living and memory care communities for $110 million, or $281,300 per unit. The new fund, Senior Housing Partners V, closed in May with $629 million of capital commitments. It is PREI’s fifth fund dedicated to seniors housing. One community in Tennessee opened in April 2012 and has 130 units, and another in Tennessee opened last October and has 126 units. The third property is in Connecticut, and it opened last September and has 135 units. PREI will retain Hearth Management, which previously owned the properties in a joint venture partnership, as the manager. Tim Cobb and Steve Thomas of Blueprint... Read More »Balfour opens in downtown Denver
A 275,000-square foot, 205-unit senior living community with five stories of independent living and three stories of assisted living and memory care opened this month in Denver, Colorado, coming with a $78 million, or $380,500 per unit, price tag. The Balfour at Riverfront Park’s urban setting, located in downtown Denver, makes it unique in the senior living world, being walking distance to theaters, restaurants and shops. The building features 112 IL units (which opened in October 2014 and are half-filled so far), 65 AL units and 28 MC units, which are on a separate secure floor. Michael Schonbrun, the developer and owner, opened his first Balfour Retirement Community in Louisville,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
