Seniors Housing

Grandbridge Negotiates $45M Sale of Seniors Housing Community in Metro Orlando

by Julia Sanders April 21, 2022

CHAMPIONSGATE, FLA. — Grandbridge Real Estate Capital has negotiated the sale of Merrill Gardens at ChampionsGate, a 223-unit seniors living campus in ChampionsGate, approximately 25 miles southwest of downtown Orlando. David Kliewer and Jay Jordan of Charlotte-based Grandbridge facilitated the $45 million sale to funds managed by Fortress Investment Group, which has tapped Watermark Retirement Communities to manage the property. The new owner also changed the property’s name to The Glades at ChampionsGate. Built in 2017, the community offers 114 independent living, 73 assisted living and 36 memory care units. Following challenges in meeting the operating covenants of the bond structure, in July 2021 a court order appointed William King of WK Financial as receiver.

April 21, 2022

Acquisitions Multifamily Oklahoma Seniors Housing Texas

Plains Commercial Negotiates Sale of 243-Bed Skilled Nursing Portfolio in Oklahoma

by Taylor Williams April 20, 2022

TULSA AND CUSHING, OKLA. — Plains Commercial has arranged the sale of three skilled nursing facilities totaling 243 beds in Tulsa and Cushing, Oklahoma. Two of the buildings were built in the 1960s and 1970s and had undergone extensive renovations in recent years. The third was built in 1997. The seller was a locally based seniors housing operator, and the buyer is one of the largest skilled nursing operators in the state. Both parties requested anonymity. Daniel Morris of Plains Commercial handled the transaction.

April 20, 2022

Acquisitions Multifamily Seniors Housing Texas

Blueprint Negotiates $52M Sale of Seniors Housing Portfolio in Texas

by Taylor Williams April 19, 2022

CHICAGO — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in Texas, one in each of the four major markets (Dallas, Houston, Austin and San Antonio), for $52 million. The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018 and feature resort-style amenities with therapy and rehabilitation gyms. The buyer and seller were not disclosed.

April 19, 2022

Acquisitions California Multifamily Seniors Housing Washington Western

Merrill Gardens, NHI Acquire Six-Property Independent Living Portfolio in California, Washington

by Amy Works April 19, 2022

CALIFORNIA AND WASHINGTON — A joint venture between owner-operator Merrill Gardens and publicly traded REIT National Health Investors (NYSE: NHI) has acquired six independent living communities located on the Pacific Coast. The communities were formerly managed by Holiday Retirement, and more recently, Atria Senior Living. The price and seller were not disclosed. The communities will be rebranded as part of the Truewood by Merrill brand. The properties include: Truewood by Merrill, Fig Garden; Fresno, Calif.; 103 units Truewood by Merrill, Modesto; Modesto, Calif.; 120 units Truewood by Merrill, Pinole; Pinole, Calif.; 98 units Truewood by Merrill, Roseville; Roseville, Calif.; 117 units Truewood by Merrill, West Covina; West Covina, Calif.; 110 units Truewood by Merrill, Vancouver; Vancouver, Wash.; 103 units NHI was already the owner of the communities and leased them to third-party operators. The acquisition brings in Merrill Gardens as the new operator under a joint-venture structure rather than a lease.

April 19, 2022

Acquisitions Midwest Multifamily Seniors Housing Wisconsin

NAI Greywolf Negotiates Sale of 37-Unit Senior Living Facility in Wisconsin

by Kristin Harlow April 18, 2022

BRODHEAD, WIS. — NAI Greywolf has negotiated the sale of a 37-unit, vacant senior living facility in Brodhead, about 35 miles south of Madison. The sales price was undisclosed. The property, which closed in summer 2021, features two dining rooms, a beauty shop, therapy room and library. Dawn Davis of NAI Greywolf represented the seller, Brodhead Assisted Living Inc. The buyer, AJ Brodhead LLC, intends to reopen the property as assisted living.

April 18, 2022

California Development Loans Multifamily Seniors Housing Western

JLL Arranges $16.3M Loan for Two Seniors Housing Development Sites in Bay Area

by Amy Works April 18, 2022

LIVERMORE AND SOQUEL, CALIF. — JLL Capital Markets has arranged $16.3 million in acquisition financing for two land sites totaling 12.7 acres for the development of seniors housing communities in the Bay Area municipalities of Livermore and Soquel. JLL worked on behalf of the borrower, Calson Management, to secure the $10.5 million and $5.8 million one-year, fixed-rate loans through Barnett Capital Limited. The first site totals nine acres and will be developed into a 128-unit seniors housing community offering assisted living and memory care. The property is near local retail, entertainment and dining hubs and is near to Stanford Health Care – Valley Care Memorial Center and Livermore Division – VA Palo Alto Health Care System. Situated on 3.7 acres, the second land site will be developed into an 82-unit seniors housing community near Santa Cruz. The site is a fully entitled assisted living and memory care development that Calson Management took through the entitlement process while the site was under contract. Bercut Smith, Lillian Roos, Lauren Sackler and Ace Sudah led the JLL Capital Markets Debt Advisory team representing the borrower.

April 18, 2022

Acquisitions Multifamily Seniors Housing Texas

Cushman & Wakefield Arranges Sale of 152-Unit Memory Care Portfolio in Houston Area

by Taylor Williams April 15, 2022

HOUSTON — Cushman & Wakefield has arranged the portfolio sale of four memory care communities totaling 152 units in the Houston area. The portfolio comprises Addington Place of The Woodlands, Addington Place of Cy-Fair, Addington Place of Meyerland and Addington Place of Clear Lake. The communities originally opened between 2010 and 2012. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Chris Remeika represented the seller, New York-based Healthcare Trust Inc., in the transaction. McFarlin Group, a Dallas-based private equity firm, acquired the portfolio in an all-cash deal.

April 15, 2022

Acquisitions Affordable Housing California Multifamily Seniors Housing Western

Avanath Acquires St. John’s Manor Affordable Seniors Housing Community in Costa Mesa, California

by Amy Works April 15, 2022

COSTA MESA, CALIF. — Avanath Capital Management LLC has acquired St. John’s Manor, a 36-unit affordable seniors housing community in the Orange County city of Costa Mesa, for $11.8 million. Built in 1984 and renovated in 2007, St John’s Manor is currently 100 percent occupied. This acquisition comes on the heels of Avanath’s acquisition of The Overlook at Anaheim Hills, a 261-unit seniors housing community in Anaheim, and The Grove Senior, an 85-unit seniors housing community in Garden Grove. “We entered the Orange County market earlier this year, and plan to continue to be extremely bullish in the region,” says John Williams, president and CIO at Avanath. “Seniors housing is an asset class that remains particularly of interest to us as it has been one of the best performing asset types within our portfolio throughout the pandemic.” Avanath currently owns more than 13,000 units across the United States, 2,550 units of which are age-restricted senior apartments. “There is an increasing need for affordable housing for seniors, especially in high-priced areas of Orange County,” says Williams. “Baby boomers, a large percentage of whom are expected to reach retirement age by 2030, will be looking to downsize and seek quality options that are …

April 15, 2022

Arizona Development Loans Multifamily Seniors Housing Western

Greystone Arranges $140M in Financing for Expansion of Seniors Housing Community in Scottsdale, Arizona

by Amy Works April 14, 2022

SCOTTSDALE, ARIZ. — Greystone has arranged a $140 million loan package for both the refinancing and expansion of Maravilla Scottsdale, a seniors housing community in Scottsdale. Phase I of the community comprises a fully stabilized, 217-unit independent living, assisted living and memory care property. Opened in 2012, the community has received multiple awards, including being named Best 50+ CCRC Community by the National Association of Home Builders (NAHB), Best Multi-Family Project by Arizona Commercial Real Estate (AZRE), and Ten Best Places to Live by Arizona Foothills Magazine. Phase II of Maravilla Scottsdale is a planned 193-unit independent living community on the same parcel as Phase I that will overlook the TPC Scottsdale Golf Course. Spread over 11 acres with multiple common area spaces, the latest phase is scheduled for completion in mid-2023. Greystone’s seniors housing capital markets team, led by Cary Tremper and Matt Miller, arranged the financing from a national bank on behalf of Senior Resource Group LLC.

April 14, 2022

California Loans Multifamily Seniors Housing Western

JLL Arranges $21.5M in Financing for Bay Area Memory Care Portfolio

by Amy Works April 14, 2022

SUNNYVALE AND MENLO PARK, CALIF. — JLL Capital Markets has arranged a $21.5 million loan for two memory care communities totaling 48 units in California’s Bay Area. The portfolio includes Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park. JLL worked on behalf of the borrower, Calson Management, to secure an 18-month, fixed-rate loan through Thorofare Capital. Crescent Oaks offers 22 one- and two-bed units with a total of 33 beds. The community is located near a variety of retail, dining and entertainment amenities. In addition, the property is located one mile from Valley Health Center and less than a mile from Highway 82. Silver Oaks offers 26 one- and two-bed units, totaling 43 beds. The property is directly across from the Menlo Park VA Medical Center and is less than a mile from Highway 101. Bercut Smith, Lauren Sackler and Ace Sudah led the JLL Capital Markets debt advisory team representing the borrower.

April 14, 2022

Newer Posts

Older Posts