Blueprint Announces Senior Housing Deals in Massachusetts, Alabama
Chicago-based advisory group Blueprint Health Care Real Estate Advisors recently announced the sale of a 100-unit assisted living and memory care community in Brockton, Massachusetts, called Heights Crossing Assisted Living Residence.
Blueprint orchestrated an exclusive sales process on behalf of the seller, a regional owner-operator with a strong presence in the senior care market of metropolitan Boston. Kayne Anderson Real Estate Advisors was the buyer.
Blueprint’s Steve Thomes acted as the lead advisor on the deal.
Blueprint also recently announced the sale of a 96-unit independent living community in Montgomery, Alabama, called Bell Oaks Retirement Community.
The buyer was an opportunistic Florida-based private equity group that specializes in affordable senior housing. The deal was led by Blueprint’s Trent Gherardini and Brooks Blackmon, while Josh Salzman, Blueprint general counsel, managed the legal process.
CBRE Brokers Sale of Assisted Living Community in Oklahoma
CBRE recently announced the sale of Forest Glade Retirement Community, a 91,709-square-foot assisted living community in Bethany, Oklahoma, that’s made up of two standalone buildings, Forest and Park Glade. The buildings were sold by the original developer to a local group of investors for $4.4 million.
The deal was handled by Daniel Morris, who’s with CBRE in Oklahoma City.
CareOne Inks Exclusive Partnership with NFL Alumni Association
CareOne, a family-owned health care company with over 65 centers in New Jersey, Virginia and Massachusetts, recently announced a new exclusive partnership with the NFL Alumni Association.
The goal of the partnership is to provide CareOne’s medical services, including assisted living, memory care and rehabilitation, to more than 5,000 NFL Alumni members.
Specifically, this collaboration will provide alumni members, who include retired coaches, players, front office executives, cheerleaders, spouses and avid fans access to CareOne’s more than 65 facilities throughout the U.S.
Avison Young Arranges $6 Million Assisted Living Sale in Maryland
Toronto-based commercial real estate services firm Avison Young recently announced that it has arranged the sale of Quail Run Assisted Living, a 64-unit community in Perry Hall, Maryland.
Birchwood Health Care Properties bought the 38,750-square-foot assisted living and memory care community for $6 million. Charter Senior Living has been chosen to operate Quail Run.
Avison Young Vice President Dan Baker and Principal Jim Kornick represented the seller.
NHI Exercises Purchase Option to Acquire North Carolina Assisted Living Community
Tennessee-based real estate investment trust (REIT) National Health Investors, Inc. (NYSE: NHI) recently exercised its purchase option to buy Spring Arbor of Durham, a 32-unit assisted living and memory care community in Durham, North Carolina.
The property was part of a purchase option negotiation with NHI’s tenant, Navion Senior Solutions, when NHI acquired two North Carolina communities in February 2017. NHI’s investment will include the purchase price of $7,550,000 and as much as $650,000 for a four-unit expansion and capital improvements to the current building.
The community will be added to a current master lease with almost 14 years left at a blended yield of 7.15% with annual escalators and two 5-year renewal options. NHI bought the community with a draw on its revolving credit facility.
Springpoint Senior Living Community Announces Name Change
Cadbury at Lewes, a continuing care retirement community (CCRC) operated by New Jersey-based Springpoint Senior Living in Lewes, Delaware, recently announced its community name change to The Moorings at Lewes. The property’s affiliation with Springpoint Senior Living became official on October 4.
Additionally, the CCRC has adopted a new logo.
Written by Mary Kate Nelson