Senior Housing Investments & Transactions: Sabra, Sentio, Blueprint

Sabra Acquires Nine Senior Housing Facilities for $84.7 Million

Maryland-based Sabra Health Care REIT (Nasdaq: SBRA) announced the acquisition of a portfolio of four senior housing facilities in Washington and Oregon, as well as the acquisition of a portfolio of five senior housing facilities in Illinois.

On Sept. 1, Sabra acquired the Life’s Journey Senior Living portfolio, which consists of five senior housing facilities with 149 memory care beds/units in Illinois for $19.7 million.

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On Sept. 17, Sabra acquired the Radiant Senior Living portfolio, which consists of four senior housing facilities with 196 assisted living units and 18 independent living units in Washington and Oregon for $65 million.

The acquisitions bring Sabra’s year-to-date investments to $443 million, with an average weighted yield of 7.7%, Sabra Health Care REIT CEO Rick Matros said, adding that the acquisitions represent new markets for Sabra.

South Carolina Agapé Senior Living Portfolio Sells for $153.9 Million

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Evans Senior Investments (ESI) facilitated the sale of the Agapé Senior Living portfolio in South Carolina for $153.9 million.

The Agapé portfolio, representing 10 facilities with 856 units of senior housing and three facilities of 294 skilled nursing beds, is anticipated to be one of the largest asset portfolios available for sale in the Southeastern U.S. in 2015.

An undisclosed private equity firm emerged as the winner in a competitive bidding process. The final purchase price amounted to $156,424 per unit for assisted living/memory care units and $68,027 per bed for the skilled nursing beds.

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