Transactions & Financings: SLIB Facilitates Sales in 4 States; Fortress Buys Florida Community, Taps Watermark to Operate


Grandbridge Closes $45M Sale of Florida Community

Grandbridge Real Estate announced that its Tampa-based Senior Housing Investment Sales team arranged the sale of a 223-unit senior living community in ChampionsGate, a submarket of Orlando, Florida.

Fortress Investment Group purchased the senior living campus, which had experienced difficulties meeting operational covenants of the development bond structure. Fortress tapped Watermark Retirement Communities to operate the community.

David Kliewer and Jay Jordan led the Grandbridge sales team.


SLIB Facilitates Sales in Georgia, California, Utah, Ohio

Senior Living Investment Brokerage (SLIB) announced the sale of two Oaks Senior Living communities.

The two communities – located in Leesburg and Columbus, Georgia, respectively – include a total of 154 assisted living and memory care units.

The Buyer, a 1031 fund, was selected by SLIB’s Bradley Clousing and Daniel Geraghty who conducted a confidential nationwide marketing search for the portfolio sale.


Oaks Senior Living is remaining the operator of the communities following the sale.

SLIB also announced that Jason Punzel, Brad Goodsell, and Vince Viverito handled a pair of senior living sales in the Western U.S.

In California, SLIB facilitated the sale of an assisted living and memory care community in Morena, California named Rancho Belago. The community was built in 2014 and includes 94 units and 125 beds.

The seller is a local developer near Los Angeles and the buyer is a West Coast owner that sought to expand their presence in California.

In Utah, SLIB facilitated the sale of an independent living and assisted living community in the college town of Logan. The community, dubbed Williamsburg, has 82 units and recently underwent renovations.

The buyer, a California entity, plans to convert the entire community into independent living units.

The firm additionally announced it facilitated the sale of Cedar Village, a Cincinnati-area senior living community with 267 units of independent living, assisted living, and skilled nursing.

The buyer is an Ohio-based company with operations in the area while the seller is an Atlanta-based nonprofit organization that sought to divest by selling its lone Ohio property.

SLIB’s Ryan Saul handled the transaction.

Lloyd Jones Buys Famed Johnny Cash Community

Blueprint Healthcare Advisor has advised on the sale of the historic senior living community, Maybelle Carter Senior Living in Nashville, Tennessee.

Country music star Johnny Cash originally constructed the community in 1984 for his mother-in-law. The community is gaining momentum after the Covid-19 pandemic impacted operations, according to Blueprint.

The seller is an unnamed publicly traded real estate investment trust (REIT) and the buyer is Lloyd Jones Senior Living.

TRS Facilitates Sale of Minneapolis Community

Transwestern Real Estate Services (TRS) has brokered the sale of a senior living and memory care facility called Hiawatha Suites in Minneapolis.

The sale price exceeded $200,000 per bed for the selling entity, a local developer of multifamily, single-family, and assisted living facilities. 

Hiawatha Suites was built to cater to residents seeking memory care and high-acuity assisted living in an urban environment. TRS reported that the community was nearly 100% occupied at the time of the sale.

Erik Coglianse represented the seller on behalf of TRS.


HJ Sims Refinances Mountain West Community

Privately-held investment bank HJ Sims announced it has completed the refinancing of a senior living community employing a Fannie Mae loan structure.

HJ Sims sought to refinance the community before it was re-stabilized following a drop in occupancy resulting from the Covid-19 pandemic. The owner/operator is a well-established entity that currently operates a portfolio of 25 communities throughout the Mountain West.

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