• New 1031 Exchange Platform Launches

    A new 1031 exchange platform designed to provide advisors and their clients with access to institutional-quality real estate investments through Delaware Statutory Trusts has launched. A Fortress Investment Group affiliate, Fortress Real Estate Exchange, will initially target investments in seniors housing, student housing and multifamily... Read More »
  • Regional Operator Acquires Large Multi-State Portfolio

    Senior Living Investment Brokerage announced a couple of portfolio deals this week totaling 15 separate properties. The larger deal featured 13 assisted living/memory care communities spread out in Georgia and South Carolina. Built between 1989 and 2014, the buildings have a combined 672 units, with 492 assisted living and 180 devoted to memory... Read More »
  • Oregon and Idaho Communities Sell

    Blake Bozett and Spud Batt of The Zett Group sold a 48-unit independent living community in Pendleton, Oregon, on behalf of a local owner/operator who was exiting the business. Built in the 1970s, the community was well occupied but could improve its overall operations. Still, there was positive momentum in the NOI, which rose from $320,000 in... Read More »
  • Owner/Operator Purchases AL/MC Assets from Public Company

    A publicly traded company sold its portfolio of eight assisted living/memory care communities located throughout Minnesota and Wisconsin, engaging Blueprint’s Kyle Hallion, Lauren Nagle and Ben Firestone to handle the deal. Each community included a smaller footprint, with 153 units total across the portfolio. The S&P 500 company owner... Read More »
  • Inland Acquires Class-A Asset

    Inland Real Estate Acquisitions announced its acquisition of a high-end seniors housing community in Monument, Colorado (between Colorado Springs and Denver). We heard about the Class-A transaction about six weeks prior, when Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage announced their... Read More »
Brookdale Buys Eight NHI-Owned Communities

Brookdale Buys Eight NHI-Owned Communities

Brookdale Senior Living exercised its purchase option on eight assisted living communities that it operated on behalf of the owner, National Health Investors. The transaction was hinted at in NHI’s third quarter earnings report, which noted the properties as being held for sale. And Eric Mendelsohn, President and CEO, confirmed in the Q3 earnings call that the purchase price would start at a base of $37 million, with a fair market value component as high as $5 million which NHI and Brookdale would split 50-50. In the end, Brookdale paid $39.26 million, or $116,845 per unit. The eight communities, which were located in three states and totaled 336 units, contributed 2019 GAAP revenue of... Read More »