Transactions & Financings: IRR Partners with Tellatin, Inc.

Integra Realty Resources Partners With Tellatin, Inc.

Commercial real estate valuation and consulting firm Integra Realty Resources (IRR) recently announced it has formed a strategic partnership with Missouri-based Tellatin, Inc., an appraisal, market study and advisory firm dedicated to serving the senior housing and health care sectors.

Starting immediately, all 16 employees from Tellatin will form IRR’s six new dedicated Healthcare & Senior Housing appraisal offices in Kansas City, Missouri; St. Louis, Missouri; Portland, Oregon; Nashville, Tennessee; Boston, Massachusetts; and Santa Fe, New Mexico.

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The new IRR offices will operate under the management of IRR’s newest shareholders: James K. Tellatin, Bradley J. Schopp, Victor D. Cremeens and Mark Tracy.

IRR’s Healthcare & Senior Housing practice conducts market studies, appraisals and consulting assignments on a wide variety of health care and senior housing properties. Similarly, Tellatin, Inc. specializes in feasibility studies, appraisals, market analyses, management overviews, Medicaid and Medicare reimbursement analyses, litigation support, and due-diligence consulting for health care and senior housing properties. 

Covia Affiliates with Bethany Center in San Francisco, California

Covia Affordable Communities recently affiliated with Bethany Center Senior Housing (BCSH) of San Francisco. The affiliation agreement was approved by the Department of Housing and Urban Development (HUD) and was finalized on March 15.

Bethany Center currently has 133 affordable senior housing apartments.

Senior Living Investment Brokerage Arranges $7.5 Million Sale in Michigan

Glen Ellyn, Illinois-based Senior Living Investment Brokerage recently arranged the sale of Elmcroft of Kentwood, an 81-unit assisted living and memory care community in Kentwood, Michigan, for $7.5 million.

HFF Announces $16.7 Million in JV Equity for Development in Florida

Holliday Fenoglio Fowler, L.P. recently announced approximately $16.7 million in joint venture equity for the development of Grand Living at Lakewood Ranch, a 172-unit, resort-style senior housing community in Sarasota, Florida, that’s expected to be completed in 2019.

The HFF team worked on behalf of Ryan Companies, US Inc.—the developer—to arrange a joint venture equity partnership with Eagle Realty Group, LLC. 

The HFF team representing the developer included Senior Director David Fasano, Director Sarah Anderson and Senior Managing Directors Chad Lavender and Ryan Maconachy.

Blueprint Arranges Sale of Senior Housing Portfolio in Utah

Blueprint recently announced the sale of a portfolio made up of 294 assisted living units in the greater Salt Lake City, Utah, area, to  SmartStop Asset Management, LLC.

SmartStop is a diversified real estate company that has dealt primarily in self-storage assets. The sale-manage back transaction represents SmartStop’s entry into the seniors housing space.

The portfolio includes three assisted living communities with strong historical occupancies. The seller was looking to transfer ownership of the assets but stay on as the operator. 

The transaction was led by Amy Sitzman, Jacob Gehl and Giancarlo Riso.

Merrill Commercial Real Estate Arranges Memory Care Sale in Nevada

Merrill Commercial Real Estate, Inc. recently arranged the $10 million sale of a 44-unit freestanding memory care community in Sparks, Nevada. The buyer was a Northwest-based provider looking to expand its footprint into Nevada.

The transaction was led by Tyler Merrill.

Written by Mary Kate Nelson

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