Senior Housing Investments & Transactions: Inspirit Senior Living, IPA

Inspirit Senior Living Acquires Two Communities in Pennsylvania 

Inspirit Senior Living has acquired two senior housing properties in the state of Pennsylvania. 

The 67-unit Willow and the 70-bed Palmerton, which were previously owned and operated by LifeCare Holdings and The Weston Group, respectively, mark the third and fourth acquisition for the Fairfax, Virginia-based company. Both communities will be renovated, according to a press release.

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Inspirit is currently in negotiations to acquire additional properties in the mid-Atlantic region, the release notes.

Florida Provider to Acquire Life Care CCRC in St. Augustine, Florida

Westminster Communities of Florida, the largest not-for-profit senior living provider in the state, is seeking to acquire a Glenmoor continuing care retirement community (CCRC) in St. Augustine, Florida.

Westminster would own and manage the retirement community, which was formerly owned by Life Care St. Johns, according to a press release.

The deal is pending state and federal approval.

Sage Healthcare Partners Picks Up New Jersey Community for $18.2 Million

Sage Healthcare Partners, a company that specializes in assisted living management, has acquired a United Methodist Communities property in Ocean Grove, New Jersey, for $18.2 million.

The community, Francis Asbury Manor, is comprised of 131 assisted living and memory care units. 

Institutional Property Advisors (IPA) helped arrange the transaction.

Written by Tim Regan

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