Sales

Senior Living Investment Brokerage Facilitates Portfolio Sale in the South

Senior Living Investment Brokerage (SLIB) announced it played a role in the sale of three senior living communities – two in Georgia and one in Tennessee.

In all, the three communities comprise 228 of AL and memory care and were built in either 1999 or 2000. Based in the Western U.S., the seller was seeing to consolidate its portfolio to focus on communities a bit closer to home. The buyer is an owner/operator aiming to make inroads in the South. This acquisition marks the buyer’s first presence in Tennessee and Georgia.

SLIB’s Vince Viverito, Brad Clousing, Jason Punzel and Brad Goodsell handled the transaction.

SLIB Facilitates Nevada Sale

SLIB announced that it facilitated the sale of an independent living community located in Reno, Nevada.

The community was built in 2020 and comprises 131 units of independent living on just over 5 acres of land. According to SLIB Managing Director Jason Punzel, the community leased quickly despite the Covid-19 pandemic beginning the same year.

A New York-based private equity group that specializes in active adult and independent living assets bought the community from a Western U.S. regional owner/operator.

Along with Punzel, SLIB’s Dave Balow, Vince Viverito and Brad Goodsell handled the transaction. 

Zeigler Advises Sale in Wisconsin

Ziegler announced it played a role as exclusive financial advisor for the sale of a senior living community in Wisconsin.

The community – called Terova – is a 101-unit senior living community that was acquired by Marquee Capital which renovated it before moving on to a sale. The buyer is Inspired Health Care Capital which will deploy its affiliated management arm Volante Senior Living to operate it.

Financings

Ziegler Closes $32M Financing

Ziegler announced the closing of EveryAge Obligated Group Series 2023A Direct Bank Revenue Bonds. The total financing amounted to $31.9 million. The financing went through the North Carolina Medical Care Commission.

EveryAge is currently developing a 95-unit independent living rental community in Hickory, North Carolina that will be called BellaAGe Hickory. The community will feature 1- and 2-bedroom models with rents ranging from about $2,000 per month to about $3,600 per month, making it a middle-market community in the Hickory market.