Benchmark Senior Living Acquires Standalone Memory Care Community in New Hampshire
Waltham, Massachusetts-based senior housing provider Benchmark Senior Living recently purchased The Arbors of Bedford, a standalone memory care community with 54 apartments in Bedford, New Hampshire.
Specifically, Benchmark acquired an interest in The Arbors of Bedford from U.S. Healthcare Venture LLC, with whom it will continue to partner in owning The Arbors of Bedford.
Including this acquisition, Benchmark currently operates nine standalone memory care communities in four states.
Assisted Living Community in Virginia Sells for $8.6 Million
America House Assisted Living of Warrenton—a 41-bed assisted living community in Warrenton, Virginia—recently sold for $8.57 million, according to Fauquier Now.
A California-based real estate investment partnership was the buyer.
Immanuel Acquires 122-Unit Senior Housing Community in Nebraska
Immanuel—the not-for-profit serving arm of the Evangelical Lutheran Church in America—recently acquired Clark Jeary, a 122-unit senior living community in Lincoln, Nebraska.
The purchase price was not disclosed.
Capstone Strategic, Inc. advised Immanuel on the completion of this not-for-sale, strategic transaction.
Including the acquisition of Clark Jeary, Immanuel now has 11 senior housing communities throughout the Omaha and Lincoln metropolitan areas.
Phoenix Senior Living to Operate Senior Housing Community in Georgia
New York-based real estate investment company Care Investment Trust recently purchased Phoebe Senior Living at Morningside, a 68-unit assisted living and memory care community in Albany, Georgia. Going forward, the community will be operated by a subsidiary of Phoenix Senior Living.
Evergreen Real Estate Group Buys Affordable Senior Housing Community in Wisconsin
Chicago-based multifamily company Evergreen Real Estate Group recently purchased Durand Plaza, a 72-unit affordable senior and disabled housing community in Racine, Wisconsin.
Evergreen is currently pursuing a 20-year extension of the property’s Section 8 Housing Assistance Payment contract in conjunction with its acquisition of the community. Durand is expected to undergo a $2 million renovation within the next six to nine months.
Integra Realty Resources Joins Forces with Appraisal Research Counselors
Chicago-based Appraisal Research Counselors (ARC) is joining forces with Denver-based Integra Realty Resources (IRR), according to Connect Commercial Real Estate.
This means that all 32 employees from ARC will form IRR’s new Chicago office, effective immediately.
“ARC really bought part of IRR; and agrees to operate under the name, brand, processes, and model of IRR in their exclusive territory,” IRR Chairman Anthony M. Graziano told Senior Housing News.
Senior housing valuations still be a large part of the Chicago practice areas, and IRR is finalizing the re-launch of IRR Senior Housing, Graziano explained.
“We have a national specialty practice platform in senior housing, and I would expect Chicago will play a big role in that space in the years to come,” he added.
Written by Mary Kate Nelson