Sabra Health Care REIT Announces $430 Million Deal
Sabra Health Care REIT (Nasdaq: SBRA) recently revealed a plan to buy 24 skilled nursing and transitional care units on the West Coast for $430 million.
Read more at Skilled Nursing News.
Sagora Senior Living Purchases Community in Kingwood, Texas
Fort Worth, Texas-based Sagora Senior Living recently purchased the 121-unit Isle at Kingwood Assisted Living and Memory Care community in Kingwood, Texas. The operational transition of the community began on Sept. 21, according to Sagora Senior Vice President of Operations Dara Brown.
Isle at Kingwood offers assisted living, memory care and extended care services. The purchase price was not disclosed.
Clearwater Living to Manage 18-Property Wolff Company Independent Living Portfolio
Newport Beach, California-based senior housing operator Clearwater Living has been chosen to provide management services for The Wolff Company’s 18-community independent living platform located throughout the western United States.
Clearwater Living started management on Sept. 1 at seven Wolff communities located in Washington, Nevada, Colorado and California. More properties will come under Clearwater’s management as they are developed, according to a press release.
The Wolff Company is a longtime developer of multifamily properties based in Scottsdale, Arizona, that entered the senior housing market in 2015.
Senior Living Community in Florida Sells for $77.2 Million
The 291-unit Carlisle Palm Beach independent and assisted living community in Lantana, Florida, recently sold for $77.2 million, according to the South Florida Business Journal.
The community was sold by SHI Carlisle Palm Beach, a joint venture between Chicago-based senior housing owner, operator and developer Senior Lifestyle Corp. and real estate investment management services company AEW Senior Capital Management. Wells Fargo Bank provided a seven-year, $55 million loan to the buyer, Palm Beach FL Senior Property, an affiliate of Salt Lake City, Utah-based Bridge Investment Group.
Asbury Heights Affiliates with University of Pittsburgh Medical Center Senior Communities
Asbury Heights, a senior living community in Mt. Lebanon, Pennsylvania, recently became affiliated with University of Pittsburgh Medical Center (UPMC) Senior Communities, according to PatientDaily.
Asbury Heights currently houses approximately 500 residents and provides independent living, assisted living, nursing care and memory care services. UPMC intends to outlay a minimum of $10 million over the next five years, supporting ongoing staff development and allowing for technology and site upgrades at Asbury.
Asbury Heights’ decision to affiliate with UPMC increases UPMC Senior Communities’ reach to 15 campuses across seven Pennsylvania counties, UPMC’s Deborah Brodine told PatientDaily.
Caddis Affiliate Purchases Wisconsin Site for Construction of 105-Unit Senior Living Community
Heartis North Shore Partners, LP—an affiliate of Dallas-based health care real estate development firm Caddis—has purchased a 12-acre site in Glendale, Wisconsin, for the development of a 105-unit, 96,770-square-foot assisted living and memory care community, BizTimes reported.
Securant Bank and Trust sold the vacant land for $1.7 million. Construction is anticipated to be completed during the first quarter of 2019.
Chicago-based Pathway Senior Living will operate the community once it opens.
Written by Mary Kate Nelson
Companies featured in this article:
AEW Capital Management, Asbury Heights, Bridge Investment Group Holdings, Caddis, Clearwater Living, Heartis North Shore Partners LP, Palm Beach FL Senior Property, Pathway to Living, Sagora Senior Living, Securant Bank and Trust, Senior Lifestyle Corp., SHI Carlisle Palm Beach, The Wolff Company, University of Pittsburgh Medical Center Senior Communities, Wells Fargo