TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 320 licensed beds in East Texas. The names of the properties, as well as the buyers and sellers were not disclosed. Giancarlo Riso, Amy Sitzman and Ryan Chase led the Blueprint team on the transaction. The deal closed via the buyer’s assumption of the seller’s outstanding loan, which carried an interest rate of 2.9 percent and a remaining term of over 25 years.
GLENDALE, ARIZ. — Dominium is scheduled to break ground on two affordable housing communities in Glendale, roughly 10 miles northwest of Phoenix. Totaling 605 units, the apartment communities will be reserved for individuals earning 60 percent or less of the area median income (AMI). Juniper Square, a seniors housing community, will comprise 287,468 square feet and 221 apartments in one-, two- and three-bedroom floorplans. Amenities at the property will include a pool, courtyard, fire pits, a clubroom, fitness center, theater and salon. 67 Flats will span 875,141 square feet with 384 apartments in one-, two- and three-bedroom layouts. Amenities at the community will include a pool, playground, soccer field, courtyard, clubroom and fitness center. Juniper Square and 67 Flats are scheduled to open in the spring and summer of 2026, respectively. W.D. Construction, a joint venture between Weis Builders and Dominium Construction and Architectural Services, will serve as the general contractor.
RICHMOND HEIGHTS, OHIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a northeast suburb of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney of Blueprint brokered the sale.
PLANO, TEXAS — The Legacy Senior Communities is planning a 30-unit expansion project at The Legacy Willow Bend, the owner-operator’s flagship property in Plano. The expansion will introduce three buildings, each designed with 10 luxury flats, for a total of 30 hybrid-style independent living units spanning about 2,000 square feet each. Construction is scheduled to begin in the first quarter of 2025 and to be complete in spring 2026.
SHREWSBURY, MASS. — JLL has arranged the sale of The Residence at Orchard Grove, an 80-unit seniors housing complex in Shrewsbury, located just east of Worcester. The three-story building opened in 2017 and offers independent living, assisted living and memory care services. Jay Wagner, Aaron Rosenzweig, Rick Swartz and Jim Dooley of JLL represented the seller, Blue Moon Capital Partners, in the transaction and procured an undisclosed REIT as the buyer. LCB Senior Living operates the facility.
WILDWOOD, TOWN AND COUNTRY, AND KANSAS CITY, MO. — JLL Capital Markets has negotiated the sale of three seniors housing communities in Wildwood, Town and Country, and the Burlington Creek area of Kansas City. The sales price was undisclosed. The portfolio comprises 252 units of private pay assisted living and memory care with comprehensive amenities. The properties were built between 2016 and 2018. Jay Wagner, Rick Swartz and Jim Dooley of JLL represented the undisclosed seller and procured the buyer, a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. Scarp Ridge spearheaded the acquisition, which was capitalized by Artemis. Arrow is taking over operations of the three communities. The acquisition is the first for the joint venture.
SIOUX FALLS, S.D. — Sanford Health has unveiled plans to build Good Samaritan Society — Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls. The developer plans to break ground this spring. The first phase of the CCRC will include 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, all slated for completion in 2026. A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis Drug location. The health clinic and pharmacy will be open to the public. Phase II is scheduled for completion by 2028.
COON RAPIDS, MINN. — Senior Living Investment Brokerage (SLIB) has brokered the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in the northern Minneapolis suburb of Coon Rapids. The sales price was undisclosed. Built in 1999, the property features 29 assisted living units and 24 memory care units. The building totals 31,195 square feet on roughly three acres. Jason Punzel, Brad Clousing and Jake Anderson of SLIB brokered the sale. The seller was a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer was an in-state owner partnering with an in-state operator looking to grow its footprint in Minnesota.
ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The three-year, fixed-rate loan features interest-only payments for the full term and is prepayable at any time. Built in 1996, Brighton Gardens features both assisted living and memory care units.
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has agreed to acquire 25 active adult properties from Affinity Living Communities for $969 million. The off-market transaction is part of a long-term strategic partnership between the two companies, with plans for future development activity together. The portfolio encompasses nearly 3,900 units predominately located in the Pacific Northwest. Welltower says the acquisition will enable the company to strategically scale the geographic reach of its active adult portfolio into markets with a five-year projected population growth in the 55-plus demographic that is more than 2.5 times higher than the U.S. average. Post-closing, Affinity will continue to manage the portfolio subject to a terminable management contract. Welltower plans to fund the acquisition using cash on hand and the assumption of $523 million of below-market-rate debt with an average interest rate of 3.8 percent and a nine-year weighted average maturity. The purchase price of approximately $249,000 per unit represents a significant discount to replacement cost, according to Welltower. The average property age is eight years. The transaction is expected to close in tranches over the next several months with timing dependent on property-level loan assumption approvals. The deal will expand Welltower’s in-place and under-development active adult …