Cushman & Wakefield Arranges Sale of Senior Community Near St. Louis
Cushman & Wakefield announced it advised a joint venture of Provision Living Senior Communities and real estate investment trust Welltower (NYSE: HCN) in the sale of Provision Living at Webster Groves to Sunrise Senior Living, for an undisclosed price.
Provision Living is an assisted living and memory care community in the St. Louis suburb of Webster Groves that was built in 2012. The 80-unit community features design elements like tall ceilings and luxury finishes along with such amenities as fine dining, a bowling alley, a theater, a physician’s space, and a bistro and cafe.
Cushman & Wakefield’s executive directors, Richard Swartz and Jay Wagner, and director Jim Dooley helped arrange the sale.
IPA Arranges Sale of $150 Million Nursing Home Portfolio
Institutional Property Advisors (IPA) recently arranged the sale of six nursing home operations in New York and in Michigan. The portfolio generates about $150 million in annual revenue and sees high occupancy, according to IPA.
A private family company sold the portfolio to a long-term care startup that is seeking to grow its operating platform, IPA noted in a press release.
IPA’s Joshua Jandris, Mark Myers, and Charles Hilding helped arrange the transaction.
Oxford Sells Two Communities to American Housing REIT for $28 Million
Oxford Senior Living has sold two of its senior living communities to American Housing REIT for $28 million.
The sale includes a 48-unit memory care community outside of Wichita, Kansas, and a 73-unit assisted living and memory care community in McKinney, Texas. Oxford will continue to operate the communities for the REIT under a long-term lease.
Mike Coiro, Samer Tahboub and Mike Perkins of CFG Capital Markets helped arrange the transaction, and MidCap Financial provided the acquisition financing, according to a press release.
CA Senior Living Acquires Community Near Seattle
CA Senior Living, the senior housing investment and development division of Chicago’s CA Ventures, has acquired a senior housing community from affiliates of Living Care Lifestyles in Lynnwood, Washington.
Living Care will continue to manage the community, and CA plans to add 109 more units to the 130-unit community during a two-phase expansion, according to a press release.
This is the provider’s second acquisition in two years. CA Senior Living’s portfolio includes 11 communities currently operating or under construction throughout the U.S.
Quail Park of Lynnwood features independent living, assisted living, and memory care units. Its amenities include multiple dining options, a salon, spa, fitness center, pub, movie theater, arts and crafts room, game rooms, a library, an indoor pool, and a multitude of outdoor activity areas.
Blueprint Arranges Sale of Senior Housing Community in Alabama
Blueprint Healthcare Real Estate Advisors announced it arranged the sale of a senior housing community in Glencoe, Alabama.
Blueprint announced that a REIT bought the Meadowood Retirement Village, but did not disclose which REIT. The community was built in 1984 and was upgraded with a memory care expansion in 2012.
Brooks Blackmon was the advisor on the transaction, Blueprint noted.
Senior Living Architect and Design Firm Expands into Denver
Eppstein Uhen Architects (EUA), an architecture and design firm that works on senior living communities among other projects, acquired Denver-based architecture and interior design firm Burkettdesign.
As part of the deal, Burkettdesign will change its name to BurkettEUA, and its entire 27-person staff will join EUA.
Past EUA clients include GE Healthcare, Ascension, Baird, Northwestern Mutual and Johnson Controls.
Grandbridge Facilitates Acquisition Loans for Portland Comunities
Grandbridge Real Estate Capital’s senior housing group recently facilitated the closing of acquisition loans for two communities; a $12 million first mortgage for Hawthorne Gardens, a 58-unit senior housing community; and a $12.25 million first mortgage for Pacific Pointe Retirement Inn, a 114-unit senior housing community.
The loans were structured for Focus Healthcare Partners, a healthcare real estate investment firm.
Written by Tim Regan