Senior Housing Investments & Transactions: DCP, Caddis, HFF

DiNapoli Capital Partners Acquires Topanga Park Assisted Living In Canoga Park, California

DiNapoli Capital Partners has acquired Topanga Park Assisted Living in Canoga Park, California in a $23.4-million cash transaction facilitated by JCH Consulting Group.

The deal included both the business and the Topanga Park retirement facility itself, complete with 90 units and 120 licensed beds situated on more than an acre of land. In the year leading up to the transaction, Topanga Park saw a $4.5-million revenue and $2.3 million in expenses, making its net ordinary income $2.2 million.

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DCP’s acquisition of Topanga Park adds to its existing portfolio and Southern California presence. It also aligns with its value-added senior housing investment strategy, which focuses on assisted living and memory care properties in need of lease up, renovation, repositioning, and enhanced operational efficiency.

Ownership Of Wichita Senior Living Community Transferred To Chicago Private Equity Firm

Chicago Pacific Founders has assumed ownership and property management of a Wichita senior living community.

Sedgwick Plaza, comprised of 121 independent living and 29 assisted living units, is now owned by the private equity firm that specializes in health care services and senior living properties. The change in ownership went into effect in early August.

The name of the facility will go unchanged, but the logo and design will be revised, Sedgwick Plaza’s sales and marketing director Misty Brake said in a prepared statement. She also said several capital-improvement projects are planned.

Caddis Closes On Assisted Living and Memory Care Community in Longview, Texas

National health care real estate firm Caddis has acquired a 74-unit assisted living and memory care community in Longview, Texas.

As part of the acquisition, the community known has Fountainview Estates will become part of Caddis’ Heartis brand and be renamed Heartis Longview. Upon closing of the deal, Frontier Management, a senior living operator based in Portland, Oregon, assumed management duties without any major changes in staffing or leadership.

The Longview facility is the latest in a string of Caddis projects since 2010, with other developments throughout Texas in Amarillo, Dallas/Fort Worth, San Antonio and Waco.

Senior Living Investment Brokerage Announce Sale of Assisted Living Facility in Oklahoma City, Oklahoma

Senior Living Investment Brokerage, Inc. announced on Aug. 13 its facilitation of the nearly $14-million sale of an assisted living facility located in Oklahoma City, Oklahoma.

The 124-unit community, built in 1998, was sold to a non-profit organization looking to expand its presence in the senior housing sector. It was purchased for $13.75 million. The buyer and seller were undisclosed.

“The seller, a family-owned company, developed and operated this property since its inception,” said Nick Cacciabando, vice president of Senior Living, in a prepared statement. “While pricing was important, they were just as concerned with the future of their staff and residents.”

HFF Closes Sale of Independent Living Facility in Teaneck, New Jersey

HFF has closed the sale of and secured financing for a 142-unit independent living facility in Teaneck, New Jersey.

The sale of Heritage Pointe of Teaneck, facilitated by HFF on behalf of Lowe Enterprises Investors to an undisclosed buyer, was announced Aug. 17. In addition to closing on the independent living community, HFF also secured a $33.23 million floating-rate loan.

Established in 2004, Heritage Pointe of Teaneck is a four-story independent living facility that includes 45 one-bedroom units, 94 two-bedroom units, and three three-bedroom units. It is currently 97.2% occupied and boasts amenities like a restaurant-style dining room, a resident lounge, hair and nail salon and an exercise room.

Written by Kourtney Liepelt

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