• Community First Solutions Acquires Again in Ohio

    Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%,... Read More »
  • Joint Venture Acquires Nashville Active Adult Community

    An active adult community in Germantown, Tennessee, found a new owner thanks to the team at Newmark. Built in 2020, Avenida Watermarq is a 161-unit, Class-A active adult community in an affluent suburb of Nashville. There are one- and two-bedroom options averaging 919 square feet per unit. Occupancy was 87%. Inspired Real Estate Partners and GEM... Read More »
  • Institutional Owner Divests Ohio Facility

    Evans Senior Investments arranged the sale of a skilled nursing facility in Ohio on behalf of an institutional owner looking to exit the market. The facility comprises 88 beds and 20 independent living units, which served as a referral source for the nursing home. The buyer was a regional owner/operator that is actively expanding in Ohio. This is... Read More »
  • Strawberry Fields Completes Missouri SNF Portfolio Acquisition

    Strawberry Fields REIT, Inc. announced that it completed the acquisition of nine skilled nursing facilities comprising 686 beds in Missouri for $59 million, or $86,000 per bed. The REIT completed the acquisition using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the... Read More »
  • Macquarie Asset Management Launches Health Wave Partners

    Macquarie Asset Management, which has over 35 years of experience in the real estate sector and a current network of 15 specialist operator investments globally, announced the launch of Health Wave Partners, a seniors housing platform aimed at targeting investments in modern seniors housing assets alongside established operators. The platform... Read More »
CBRE Sells The Village Portfolio (And Finances It Too)

CBRE Sells The Village Portfolio (And Finances It Too)

CBRE pulled doubly duty for a pair of assisted living/memory care communities in Houston, Texas, arranging both the sale on behalf of the seller and acquisition financing for the buyer. Dubbed “The Village Portfolio,” these communities total 224 units and are located within a 10-mile radius of the largest medical center in the world, the Texas Medical Center. Although a new institutional investor will replace the previous institutional owner, Bridge Property Company, through its wholly owned management affiliate Retirement Center Management, will continue in its role as operator. Lisa Widmier represented the seller in the transaction, while Aron Will and Austin Sacco helped arrange two... Read More »

Greystone’s giant deal

Greystone Real Estate Advisors certainly ended May with a bang, closing the largest transaction of the month at a value of $210 million, or $202,117 per unit. Involving seven senior living communities in Texas and one in Oklahoma City, the sold portfolio was owned by Harrison Street Real Estate Capital and Bridgewood Property Company. Built between 1989 and 2000, it included 1,039 total units, with two independent living communities, three independent/assisted living communities and three that included independent living, assisted living and memory care services. Texas-based Cardinal Bay was the buyer, which will retain Retirement Center Management as operator. Cody Tremper of Greystone... Read More »

Sell on top, or near it

Despite many believing we have already reached the peak, pricing-wise, in the seniors housing M&A market, it is still a very good time to sell. That is at least what SRP Medical was banking on when it sold its newly built 108-unit assisted living/memory care community to a joint venture between Harrison Street Real Estate Capital and Bridgewood Property Company. Opened in 2013, the community features 60 AL units and 48 MC units and is located near The Woodlands, Texas, in the town of Spring, an area which has seen plenty of seniors housing construction recently. A change in operators a year after opening caused some marketing issues, which contributed to bringing occupancy down to 50%.... Read More »

High-quality property opening in high-income area

One of the wealthiest neighborhoods in the country will soon open its first seniors housing community. River Oaks (in Houston, Texas), the most affluent community in the state of Texas, and among the top ten in the United States, with real estate values ranging from $1 million to over $20 million, is the home to The Village of River Oaks, a 195-unit independent living/assisted living/memory care community to be built by a joint venture between Bridgewood Property Company and Harrison Street Real Estate Capital. The property, featuring 99 IL, 68 AL and 28 MC units, will be managed by an affiliate of Bridgewood, Retirement Center Management, which manages senior living communities in Texas... Read More »

Expanding in Houston

Not to be left behind by the ever expanding senior housing market in the Houston metro area, three existing retirement communities are planning significant additions which would expand both their size and continuum of care through a variety of services. The Buckingham, a 323-unit senior living community consisting of 204 independent living apartments, 43 assisted living units, 16 memory care suites and 60 private skilled nursing rooms, was built in 2005, but after reaching full capacity, they sought to fill a growing need for senior care in the area. The $56 million expansion, which will cost about $300,000 per unit, will add an additional 104 IL apartments, 33 AL suites, 18 memory care... Read More »