CBRE Arranges $6.8 Million Sale of California Seniors Housing Community
CBRE, a large commercial real estate and investment firm, brokered the sale of Williams Senior Apartments, a 28-unit age-restricted senior housing community in Brea, California.
Restoration Enhancement acquired the property from a private seller for $6.8 million.
Chevalier International Holdings, Ltd. Acquires Two Detroit-Area Senior Living Properties
Chevalier International Holdings, Ltd., an investment holding company based in Hong Kong, acquired two senior living communities in the Detroit area for $33 million. Greystone Real Estate Advisors managed the transaction.
Chevalier purchased Ashford Court and Sterling Place from New Senior Investment Group on June 16. Ashford Court, located in Westland, Michigan, and built in 1986, has 143 independent living, assisted living, and memory care units. Sterling Place in Southfield, Michigan, was built in 1987 and has 156 independent living units.
The two communities have received upgrades over the past two years and feature amenities including libraries, lounge areas, barber shops/salons, landscaped grounds, and private apartments with kitchenettes and patios or balconies.
Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.
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Columbia Pacific Advisors Sell Talyst Systems, LLC
Seattle alternative investment firm Columbia Pacific Advisors announced the sale of Talyst Systems, LLC, a pharmacy automation solutions company based in Kirkland, Washington, to Swisslog Healthcare, a supplier of medication management and supply chain services.
The sale marks a strategic exit for Columbia Pacific Advisors. Now, Denver-based Swisslog Healthcare will benefit from Talyst’s pharmacy automation services, a press release states.
NHI Announces $10 Million Mortgage Loan for Acquisition of New Hampshire Memory Care Community
Evolve Senior Living, a senior living operator based in Charleston, South Carolina, acquired a 40-unit memory care community in Rye, New Hampshire for $10 million.
Murfreesboro, Tennessee-based National Health Investors (NYSE: NHI) financed the transaction, secured with a first mortgage with an initial term of 5 years with renewal options and an interest rate of 8%.
Written by Elizabeth Jakaitis