• Joint Venture Developers Divest Class-A Portfolio

    A portfolio of seniors housing communities sold, with the six assets located across two states in the Kansas City, Kansas MSA. The seller was a joint venture between Hunt Midwest, a Kansas City-based real estate development company, and Principal Senior Living, a Georgia-based developer/owner/operator of senior living communities. The portfolio... Read More »
  • Joint Venture Acquires Full-Continuum Community in Las Vegas MSA

    After acquiring two Class-A seniors housing communities in March through separate transactions, Clarion Partners made another purchase, in Las Vegas, Nevada. The previous two additions to its portfolio were Vitality Living Franklin in Tennessee, and The Gallery at Spokane in Washington. The Washington deal was done through a joint venture with... Read More »
  • Bridge-to-HUD Takeout Refinances Two Communities

    An undisclosed borrower secured a $46 million bridge-to-HUD refinance for two seniors housing communities in Ohio with the help of Greystone. Christopher Clare originated the financing with assistance from David Young, Ben Rubin, Ryan C. Harkins, Parker Nielsen and Liam Gallagher. The two communities feature a total of 186 skilled nursing beds in... Read More »
  • Janus Living Goes Public After Upsizing IPO

    Janus Living, a Healthpeak Properties-formed REIT and now the only publicly traded U.S. REIT fully dedicated to seniors housing with its entire portfolio structured under RIDEA, has launched its initial public offering of Class A-1 common stock. The company is now listed on the NYSE under the ticker “JAN.” It plans to pay a quarterly dividend of... Read More »
  • Partnership Acquires Two Long Island Communities

    Two Long Island assisted living communities were sold by their original developer/operator. Village Green Senior Living in Levittown (opened in 2020) and Village Walk Senior Living (opened in 2018) in Patchogue were acquired by a partnership between Fundamental Advisors, Scribner Capital and Atria Senior Living. They will be renamed Atria... Read More »
Greystone Arranges Tulsa Transaction

Greystone Arranges Tulsa Transaction

National Health Investors announced a one-off acquisition of a 200-unit independent/assisted living community in Tulsa, Oklahoma, paying $34.6 million, or $173,000 per unit. Originally built in 1987 by a local real estate developer, the community was previously owned and operated by Triad Senior Living, which manages over 1,000 senior living units across Oklahoma, Illinois and Florida. Occupancy was strong, at 95%, but moving forward, Discovery Senior Living will take over operations under a lease with NHI for a term of 15 years, with renewal options, at an initial lease rate of 7.0% plus annual fixed escalators. NHI has also set aside $500,000 for capital improvements and funded the deal... Read More »