• Stand-Alone MC Community Trades in Arizona

    Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. ... Read More »
  • Clarion Partners Continues Its Acquisition Streak

    Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which... Read More »
  • Multiple Senior Care Acquisition Financings Close

    M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory... Read More »
  • Olympus Retirement Living Expands

    The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer.... Read More »
  • Large Senior Care Portfolio Trades Hands

    A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged... Read More »
Persimmon Refinances Pennsylvania Portfolio

Persimmon Refinances Pennsylvania Portfolio

Patrick Shearer of KeyBank Real Estate Capital’s Commercial Mortgage Group secured $28 million of HUD financing for three seniors housing communities in Pennsylvania owned by Baltimore-based Persimmon Ventures, LLC and operated by Live Cardinal. All three communities offer assisted living and memory care services. Built in 1994 in Landisville, the largest property has 135 beds in 115 units and received a $16 million loan. A 59-unit community, which was built in 1987 in the town of Millersville, got an $8 million loan. The smallest community has just 45 units but 85 total beds. Built in 2000, it was acquired from The Hollinger Group for $3.8 million, or $84,400 per unit, at a 9.2% cap rate.... Read More »
NHI Expands Relationship with Senior Living Communities

NHI Expands Relationship with Senior Living Communities

Senior Living Communities (SLC) secured financing from National Health Investors to purchase and renovate a 248-unit CCRC in Columbia, South Carolina, bringing the REIT’s relationship with SLC to 11 properties with either a long-term lease or a mortgage loan. The $35 million, or $141,100 per unit, purchase price was funded by a draw on NHI’s revolving credit facility with a $32.7 million loan. It came with a five-year term and two one-year extension options at an interest rate of 7.25%. Originally built in 2000 and continuously expanded through 2014, the entrance fee community has 76 independent living homes, 60 IL units, 40 assisted living units, eight memory care units and a 64-bed... Read More »

The Hollinger Group exits the seniors housing market

Last month, we wrote about Care Investment Trust’s purchase of the Hollinger South Portfolio, which included five properties in South Carolina (4) and Florida (1) and sold for $29.1 million, or $103,000 per unit. This month, the remaining senior living properties owned by The Hollinger Group, dubbed The Hollinger North Portfolio, were sold to Care Investment Trust, a subsidiary of Tiptree Financial, Inc., for $54.48 million, or about $181,000 per unit, with a 7.5% cap rate. The communities, which consisted of 299 units of assisted living and memory care units, were located in Maryland (3), New Jersey (1), Pennsylvania (1) and Virginia (1). Average occupancy was around 94% and the... Read More »