Management
LCB takes over management of The Reserve at East Longmeadow
LCB Senior Living announced it has assumed management of The Reserve at East Longmeadow on April 9.
According to a press release, the community has over 100 residential apartments and has assisted living and memory care services.
The community was opened in 2014.
Partnerships
Perkins Eastman becomes partner for University Retirement Communities
Perkins Eastman, an architecture, urban design and interior design firm, announced it is a resource partner for UniversityRetirementCommunities.com on April 16.
According to a press release, the partnership reflects the “firms’ extensive experience in both senior living and university and college campus design.”
“Resource partners represent a critical element of our goal for UniversityRetirementCommunities.com to be a one-stop-shop, not only for individuals seeking locations and information on such communities, but academic institutions or related organizations seeking to develop a new, or improve upon an existing University Retirement Community,” Andrew Carle, founder of the website, said in the release.
Transactions
Blueprint advises on sale of Michigan community
Blueprint announced it advised a real estate investment trust in the sale of an assisted living and memory care community in Wyoming, Michigan on April 4.
According to a press release, the community was built in 2015 and consists of 102 units.
The seller selected a Virginia-based investor and its Michigan operating partner as the buyer, advancing its strategic expansion in Michigan
Blueprint advises on Tennessee exit strategy
Blueprint announced it was brought on by a national developer and investor to create an exit strategy in Memphis, Tennessee on April 9.
According to a press release, the seller was looking to maximize the value of more than a dozen “disparate, older-vintage communities.”
The winning bidder was a local Memphis investor, and the acquisition marked their second in the senior housing space, the release stated.
SLIB sells Georgia community
Senior Living Investment Brokerage announced it sold a 40-unit assisted living community in Newnan, Georgia on April 1.
According to a press release, Insignia of Newnan sits on 7.3 acres and is located near the Alabama/Georgia border.
The seller, Insignia Senior Living, sold the community to focus on its core geographic markets. The buyer is a group of individual investors partnered with a southeastern based provider.
Blueprint sells Houston community
Blueprint advised a privately-held investment and development firm on the sale of a short-term rehab and assisted living community in Houston, Texas on April 16.
According to a press release, the 78-unit community was built in 2018 and was impacted by the Covid pandemic.
The community was sold to Ignite Medical Resorts within 30 days of being on site.
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