Tuesday, August 5, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Seniors Housing

AcquisitionsMidwestMissouriMultifamilySeniors Housing

JLL Negotiates Sale of Three-Property Seniors Housing Portfolio in Missouri

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMultifamilySeniors HousingSouth Dakota

Sanford Health Plans 330-Unit Continuing Care Retirement Community in Sioux Falls, South Dakota

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

SLIB Brokers Sale of 53-Unit Assisted Living Community in Suburban Minneapolis

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
GeorgiaLoansSeniors HousingSoutheast

Berkadia Arranges Sale of 112-Unit Seniors Housing Community in Atlanta’s Buckhead District

by John Nelson

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMultifamilyOhioSeniors HousingTop StoriesWashingtonWestern

Welltower Agrees to Acquire 25-Property Affinity Living Active Adult Portfolio for $969M

by Kristin Harlow

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 …

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingArizonaDevelopmentLoansMultifamilySeniors HousingWestern

Dominium Receives $354.2M Financing Package for Two Affordable Housing Projects in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Merchants Capital has arranged more than $86.2 million in Freddie Mac 4 percent Low-Income Housing Tax Credit (LIHTC) Tax-Exempt Loan (TEL) forwards for the construction of Juniper Square, an affordable seniors housing community, and 67 Flats, an affordable family housing development, both in Glendale. Dominium Inc. is developing the two communities. The properties will maintain affordability through 2053, which will restrict all units to residents earning 60 percent or less of the area median income. The Freddie Mac permanent financing comprises $29.8 million for Juniper Square and $56.3 million for 67 Flats. In addition, Merchants Bank provided $89 million in equity bridge loans, while Barclays Capital provided $179 million in construction loans. Juniper Square will offer 221 units for residents age 55 or older spread across two four-story residential buildings. Common amenities will include onsite management, elevators, a swimming pool, clubhouse, sports court, central laundry, fitness center, media/theater room, library, hairdresser, pub/game room and recreation and picnic areas. Consisting of 14 three-story residential buildings, 67 Flats will offer 384 apartments. The community will also feature four non-residential buildings, including a leasing office, clubhouse and fitness center. Community amenities will include onsite management, a swimming pool, sports court, central …

Continue Reading
FacebookTwitterLinkedinEmail
IdahoMarket ReportsMultifamilySeniors HousingWesternWestern Market Reports

Asset Consolidation Will Continue in the Boise Metro Seniors Housing Market

by Jeff Shaw

— By Blake Bozett, founder and CEO, The Zett Group — The Boise metro (Boise, Eagle, Meridian, Garden City) is made up of 75 licensed assisted living facilities, 42 of which have more than 30 licensed beds. Of those 42 assisted living facilities, the ownership type is made up of: national owner/operator (18), local owner/operator (12), REIT (4), regional owner/operator (3), local development company (2), privately held real estate investment firm (1), 1031 investment platform (1) and non-profit (1). These ownership stats aren’t necessarily unique to other metros such as Seattle and Portland with institutional capital typically owning a large share of the buildings. What’s interesting to me on a micro level is that the single asset, one to two off owners are more interested in selling than years past. What started as a simple mom-and-pop operating business a few decades ago has turned into a sophisticated and challenging operating business with extreme expense, inflationary and regulatory pressures. Having come from the operations side of the business I’ve seen many of these challenges firsthand. Therefore, it no surprise why the local owner who has owned his/her assisted living facility for 20 years may have greater appetite for selling despite less …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaMultifamilySeniors HousingWestern

Avison Young Brokers $23.5M Sale of Seniors Housing Facility in Los Angeles

by Amy Works

LOS ANGELES — Avison Young has arranged the $23.5 million sale of a seniors housing facility located at 6700 Sepulveda Blvd. in the Van Nuys neighborhood of Los Angeles. Boca Raton, Fla.-based Pinnacle Holdings of Florida sold the asset to an entity of California Healthcare & Rehabilitation Center, which currently operates the property. Situated on two acres, the 49,818-square-foot facility features 201 beds for seniors. Peter Sherman and Keith O’Donnell of Avison Young represented the seller in the off-market deal.

Continue Reading
FacebookTwitterLinkedinEmail
375-W-El-Pintado-Danville-CA
CaliforniaDevelopmentLoansMultifamilySeniors HousingWestern

JLL Capital Markets Arranges $51.1M in Construction Financing for Active Adult Project in Danville, California

by Amy Works

DANVILLE, CALIF. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace with bocce ball, firepits, barbecue and fitness center. Slated for delivery in 2025, the project is restricted to residents age 55 and older.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIdahoMultifamilySeniors HousingWestern

BearRock Investments Buys Silvercreek Assisted Living in Idaho for $6.4M, Plans Workforce Housing Conversion

by Amy Works

HAILEY, IDAHO — Seattle-based BearRock Investments LLC has purchased Silvercreek Living, an assisted living community in Hailey, for $6.4 million. The buyer plans to convert the property into workforce housing. Hailey is a small city of fewer than 10,000 residents south of the Sun Valley-Ketchum metro area in Central Idaho. Located on McKercher Boulevard, the 24,600-square-foot asset consists of two 12,000-square-foot buildings, each offering 16 studio apartments and a large commercial kitchen. Paul Kenny of Paul Kenny & Matt Bogue Commercial Real Estate represented the buyer and undisclosed seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts