Seniors Housing

Grace Healthcare Sells Three Skilled Nursing Facilities for $14.7M, Exits California and Arizona

by Nellie Day June 9, 2016

MORAGA, CALIF., PLEASANT HILL, CALIF., AND PHOENIX — Grace Healthcare has sold Grace Healthcare of Moraga, Grace Healthcare of Pleasant Hill and Grace Healthcare of Phoenix for a total of $14.7 million. The dispositions mark the owner-operator’s exit from the states of California and Arizona. Located 20 miles east of San Francisco, Grace Healthcare of Moraga features 49 beds on 1.9 acres. Built in 1965, the 12,484-square-foot community offers dementia care and rehabilitative care. Grace Healthcare of Pleasant Hill is located 10 miles east of the Moraga community and features 51 beds. The community was built in 1958 on one acre, and underwent renovations in 2012. Grace Healthcare of Phoenix features 100 beds in a 26,621-square-foot facility on three acres. A California-based investor bought both California communities for a total of $8.2 million. The new owner will lease the community to a new operator. A regional investment group bought the Phoenix property for $6.5 million. Evans Senior Investments, a seniors housing brokerage firm, represented Grace Healthcare in the three transactions.

June 9, 2016

Multifamily New York Northeast Seniors Housing

Welltower, Hines to Develop 125,000 SF Assisted Living, Memory Care Community in Manhattan

by Amy Works June 7, 2016

NEW YORK CITY — Welltower Inc. and Hines have partnered to develop an assisted living and memory care community at 139 E. 56th St. in Midtown Manhattan. Designed by SLCE Architects, the as-of-right development will have retail space at its base and a senior living and memory care facility above. The 15-story, 125,000-square-foot facility will feature residential units on floors three through 14, community space throughout the property, and outdoor living space on three floors, including landscaped terraces and gardens.

June 7, 2016

Multifamily Seniors Housing Texas

W2, Bridgewood to Develop Seniors Housing Project in Austin

by Haisten Willis June 7, 2016

AUSTIN, TEXAS — Austin-based developer W2 Real Estate Partners (W2) and joint venture seniors housing partner Bridgewood Property Co. are planning to build a 206-unit senior living project called The Village at the Triangle. The project will be located on the final site in the Triangle mixed-use development in north central Austin. Construction will begin in August and will be complete in early 2018. The Village at the Triangle will be located on a 1.5-acre site within the 30-acre Triangle development, which was first conceived in 2004 and now features more than 750 apartments, 120,000 square feet of retail, restaurant and commercial space, a rehab hospital and a three-acre park. The Village at the Triangle will feature seven floors of apartment units built above two levels of parking. Independent living, assisted living and memory care service options will be offered within the building, enabling residents to age in place. The luxury suites will range in size from efficient memory care units to independent living two-bedroom units spanning more than 1,300 square feet. The average unit size will be 882 square feet and individual units will feature private balconies and floor-to-ceiling glass windows with views of downtown Austin’s skyline and the …

June 7, 2016

Florida Multifamily Seniors Housing Southeast

Kayne Anderson Buys Seniors Housing Community in Florida

by John Nelson June 7, 2016

MELBOURNE, FLA. — Kayne Anderson Real Estate Advisors has purchased Sonata at Melbourne, a Class A seniors housing community in Melbourne, on the Atlantic coast of Florida approximately 70 miles southwest of Orlando. HFF arranged the transaction on behalf of the undisclosed seller, which divested the property free and clear of existing debt. Built in 2012, Sonata at Melbourne is situated on more than 12 acres and features 47 independent living, 54 assisted living and 34 memory care units, which were 97 percent leased at the time of sale. Ryan Maconachy and Chad Lavender led the HFF team representing the seller.

June 7, 2016

Michigan Midwest Multifamily Seniors Housing

CareTrust REIT Acquires Four Assisted Living Communities in Michigan for $30.8M

by Christina Cannon June 6, 2016

FLINT, MICH. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired a portfolio of four assisted living and memory care communities in the greater Flint area for a total of $30.8 million. Flint is located approximately 70 miles northwest of Detroit. The four properties include The Pines of Clarkston, a 46-unit community in Clarkston; The Pines of Goodrich, a recently completed, 40-unit community in Goodrich; The Pines of Burton, a 62-unit community in Burton; and The Pines of Lapeer, a 40-unit community in Lapeer. Premier Senior Living LLC took over operations of all four communities effective June 1. The communities were added to an existing master lease with CareTrust, which already included two recently acquired communities in North Carolina. The $30.8 million purchase price included transaction costs. The communities produce approximately $2.7 million per year under the terms of the lease. CareTrust funded the acquisition with proceeds from its recent 8.5 million-share equity offering in March.

June 6, 2016

Illinois Loans Midwest Multifamily Seniors Housing

Capital One Provides $20.9M Loan to Refinance Seniors Housing Community in Chicago

by Christina Cannon June 6, 2016

CHICAGO — Capital One has provided a $20.9 million fixed-rate HUD 232/223(f) loan to refinance a 318-bed skilled nursing facility in Chicago. The loan features a 35-year term. The facility was built in 1975 and offers on-site dialysis and can accommodate patients with a diagnosis of dementia. Joshua Rosen of Capital originated the transaction.

June 6, 2016

Multifamily Oklahoma Seniors Housing Texas

Greystone Secures $210M Sale of Seniors Housing Portfolio in Texas and Oklahoma

by Haisten Willis June 2, 2016

TEXAS and OKLAHOMA — Greystone Real Estate Advisors has closed the $210 million sale of an eight-property seniors housing portfolio in Texas and Oklahoma. Harrison Street Real Estate Capital and Bridgewood Property Co. sold the properties to Cardinal Bay, a private company based in Texas. Greystone represented the seller in the transaction. The properties are: • Village on the Park, Oklahoma City, 188 units • Carriage Inn, Bryan, Texas, 90 units • Carriage Inn, Conroe, Texas, 91 units • Village on the Park, Friendswood, Texas, 158 units • Village on the Park, Houston, 183 units • Carriage Inn, Huntsville, Texas, 81 units • Carriage Inn, Katy, Texas, 146 units • Carriage Inn, Lake Jackson, Texas, 102 units

June 2, 2016

Arizona Multifamily Seniors Housing Western

Lancaster Pollard Arranges Sale of Two American Orchards Seniors Housing Communities in Arizona

by Nellie Day June 2, 2016

MESA and APACHE JUNCTION, Ariz. — Lancaster Pollard has advised on the sale of two American Orchards Senior Living communities in Arizona for an undisclosed price. Madison Realty Cos. purchased the communities, both located in the Phoenix suburbs and offering assisted living and memory care. The Mesa location was built in 2010 and the Apache Junction location was built in 2012. American Orchards plans to focus its efforts on its newest development in nearby Gilbert. Lancaster Pollard managing directors Jason Dopoulos and Chad Elliott led the transaction.

June 2, 2016

Florida Loans Multifamily Seniors Housing Southeast

Capital One Provides $11M Refinancing for Assisted Living Community in Metro Tampa

by John Nelson May 31, 2016

HOMOSASSA, FLA. — Capital One has provided an $11 million, fixed-rate Fannie Mae loan to refinance Sunflower Springs Assisted Living Community, a 72-unit facility in Homosassa, approximately 60 miles north of Tampa. The property was built in 2009. Allison Holland of Capital One originated the12-year loan on behalf of the undisclosed borrower.

May 31, 2016

Florida Multifamily Seniors Housing Southeast

Brookdale Plans $8M Expansion to Seniors Housing Community in Florida

by John Nelson May 27, 2016

DELAND, FLA. — Brookdale Senior Living has announced plans to add 32 memory care units and 42 assisted living units to Brookdale DeLand, the company’s community in DeLand, approximately 40 miles north of Orlando. The cost of the expansion will be $8 million. In addition to the new units, the project will add an onsite therapy gym to the community. Brookdale is the largest owner and operator of seniors housing properties in the United States.

May 27, 2016

Newer Posts

Older Posts