Senior Housing Investments & Transactions: Capitol Seniors Housing, JCH Group

Capitol Seniors Housing Buys Historic Seattle Community for $36.3 Million

Holiday Fenoglio Fowler (HFF) arranged the sale and acquisition financings for Queen Anne Manor, a Seattle seniors housing community purchased by Capitol Seniors Housing for $36.3 million. Senior Managing Directors Ryan Maconachy and Chad Lavender and associate Sarah Baccich led the HFF team. 

The seller was undisclosed in the transaction of the asset, which was free and clear of existing debt. The asset, which is situated on just over one acre, is located in Seattle’s Upper Queen Anne neighborhood. The community has 93 units, including 54 assisted living units and 39 memory care units averaging 294 square feet each. At the time of the sale, the building was 96% occupied. 

The building was most recently renovated in 2015. The west building of the property was originally built in 1908 and the east building in 1927. 

Vancouver, Washington-based Milestone Retirement Communities LLC will manage the property. 

Chicago Pacific Founders Acquires Nevada Senior Housing Community

Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired a seniors housing community 60 miles west of Las Vegas for an undisclosed price. The seller in the transaction was not disclosed. CPF is a health care private equity investment firm based in Chicago and San Francisco. 

The community, Inspirations Senior Living, is a 78-unit property in Pahrump, Nevada. As part of the deal, the community will retain its name.  

The transaction marks CPF’s second acquisition in Nevada and its seventh total community. Grace Management will operate the community. 

JCH Arranges Sales of Two California Assisted Living Communities

JCH Consulting Group, a real estate brokerage company that focuses on the long-term care industry, has arranged the sale of an assisted living community in San Bernardino, California. The community was acquired by a national owner/operator for the purchase price of $13.6 million, or $158,140 per unit. 

The 86-unit community includes 24 memory care units. It was built in 2002. The asset was 86% occupied at the time of the sale. The seller of the building, a single-asset owner, was not disclosed. 

JCH also arranged the sale of an unnamed assisted living community in San Joaquin for the purchase price of $5.3 million, or $120,455 per unit. This transaction was led by JCH agents Jim Hazard and Nick Stahler. 

The San Joaquin community was built in 1970 and includes 44 units. The buyer is a real estate investment fund that is largely funded from China. The unnamed seller is a single-asset owner. 

At the time of the sale, the property was 69% occupied. The new owner plans to spend $1.5 million on improvements. 

Vista Healthcare Investments Acquires $18.2 Million Long-Term Care Facility in California

Vista Healthcare Investments has acquired California-based LifeHouse Vista Healthcare for $18.2 million. LifeHouse Vista Healthcare is a 187-bed long-term care facility with a well-established reputation as a skilled nursing facility (SF) in Vista, California.

The transaction, which closed escrow in February, was facilitated by Shep Roylance, senior vice president of JCH Senior Housing Group. Roylance found both the buyer and the tenant for the facility. 

Vista Healthcare Investments will lease the property to Independence Healthcare Management, a private Los Angeles-based owner/operator that has acquired several other properties within the last year, including LifeHouse Vista’s McClay Healthcare Center. 

Blueprint Arranges $5.4 Million Sale of Arizona Assisted Living Community 

Blueprint Healthcare Real Estate Advisors has arranged the sale of a 144-unit assisted living community in Peoria, Arizona, for $5.4 million, or $48,000 per unit. Jacob Gehl and Ben Firestone of Blueprint were the lead advisors on the transaction.

The community, Lamplight Inn, is located in a Phoenix suburb. The seller was a private ownership group looking to divest non-core assets. The buyer was not disclosed.  

Written by Amy Baxter