Senior Housing Investments & Transactions: CBRE, SLIB

CBRE Closes Six-Building Senior Housing Portfolio Sale

CBRE recently closed a six-building senior housing portfolio sale in Oklahoma City, Oklahoma, for an undisclosed price. The transaction was handled by CBRE’s Daniel Morris. The portfolio includes a total of 427 beds.

The portfolio includes six communities located in Andarko, Crescent, Hennessey, Lindsay, Marlow and McAlester, Oklahoma. The buyer, which was not disclosed, received numerous all-cash offers on the portfolio within the first 60 days of the marketing period of the sale. The sale was closed before certificate of need (CON) approval and with federal tax levies in place. Oklahoma is a CON state.

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The buyer of the portfolio is an individual and the seller is a private investment group with skilled nursing facilities in several states, according to CBRE.

SLIB Sells Tennessee Community for $3.9 Million

Senior Living Investment Brokerage, Inc. (SLIB) facilitated the sale of a 42-unit assisted living and memory care community for the purchase price of $3,900,000. The asset, located in Newport, Tennessee, was owned by a private equity group and managed by Brookdale Senior Living. 

The transaction was handled by Bradley Clousing, managing director with SLIB.

The seller was Valstone Partners, which said the asset did not align with the company’s long-term strategy. Mainstay Financial Group, a regional owner/operator, purchased the community, which was 95% occupied.

JCH Consulting Group Closes $6.6 Million Sale of Hawaii Community

JCH Consulting Group, a full-service real estate brokerage firm focused on the long-term care industry, has sold a 126-unit assisted living and memory care community located in Hawaii for $6,640,000.

The facility was built in 1997 and sold for $52,698 per unit. At the time of closing, the building was 65% occupied. The sale took only 45 days from acceptance of the letter of intent to closed, with a marketing period of six months. 

JCH’s Lee Blake was the lead agent on the transaction.

JCH Senior Housing Group Sells Alzheimer’s Community to Next Level

JCH Senior Housing Group facilitated the sale of Heatherwood Alzheimer’s Assisted Living to Next Level Skilled Nursing for $950,000. The sale was facilitated by JCH’s Shep Roylance and Chris Harmon. 

The community is a 32-unit standalone memory care property located in Walnut Creek, California. The facility has undergone numerous renovations over the years and is situated on a quarter acre. It was originally built in 1964.

The community was previously operated by Alzheimer Program Development Corporation. 

HFF Closes $98 Million Sale, Arranges $64 Million Financing

Holliday Fenoglio Fowler, L.P. (HFF) closed the $98.25 million sale of two Class A senior housing communities—The Solana Roseland in Roseland, New Jersey, and The Solana Willistown in Willistown, Pennsylvania. The seller was Formation-Shelbourne Senior Living Services and the buyer was undisclosed.

In addition, HFF assisted the buyer in securing a $63.86 million acquisition loan through Cornerstone Real Estate Advisors on behalf of the client. Senior Managing Directors Ryan Maconachy and Chad Lavender of HFF’s senior housing team represented the seller. 

The portfolio includes 118 assisted living and 53 memory care units, ranging from studio to two-bedroom floor plans. The properties were 94% leased.  

Written by Amy Baxter

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