Transactions and Financings: Radiant Alliance Welcomes Founding Member; 2Life Communities Receives State Funding

Transactions

Blueprint sells Lancaster community

Blueprint was selected by a local family to execute the sale of a 180-bed skilled nursing facility in Lancaster, Ohio on Jan. 24.

According to a press release, the community faced operational challenges caused by the Covid pandemic.

The community was purchased by an owner-operator looking to capitalize on the Ohio Medicaid rate increase in 2023.

Blueprint executes sale of Columbus community

Blueprint executed the sale of a Columbus, Ohio skilled nursing and senior housing community on Jan. 25.

According to a press release, the community faced challenges with occupancy and escalating staffing expenditures.

The buyer is noted to be an owner-operator with “an established Ohio healthcare enterprise” that aimed to expand its footprint in the Columbus metropolitan area.

Blueprint sells Dayton skilled nursing community

Blueprint was selected to help with the sale of a 118-bed skilled nursing community in Dayton, Ohio.

The community was built in 1973 and faced several challenges, including survey issues and financial difficulties.

The seller was looking to focus on alternative classes, and the buyer was a “well respected” owner-operator in Ohio looking to expand into the Dayton metropolitan area.

Partnerships

Radiant Alliance welcomes founding member

Radiant Alliance, an affiliation of nonprofit organizations, announced the addition of Genacross Lutheran Services as a founding member.

Toledo-based Genacross Lutheran Services joins Metta Healthcare (Ohio’s Hospice and Pure Healthcare) and United Church Homes as part of the alliance.

The alliance will “seek to empower individuals to fearlessly embrace their health choices and build a healthcare system that nurtures the well-being of the entire community,” according to a press release.

Management

Highmark Senior Living assumes management of Edencrest communities

Highmark Senior Living, a Hubbell Realty Company affiliate, assumed management and the day-to-day operations of Edencrest senior living communities throughout central Iowa.

Highmark assumed management effective Jan. 1, 2024.

Highmark Senior Living manages six communities throughout Iowa.

Financings

2Life Communities receives funding for Solimine community

2Life Communities has received state funding, low income housing tax credits and Massachusetts Rental Vouchers to support the development of its Solimine House community.

The community, once completed, will consist of 150 affordable senior housing apartments and will be a model for “integrating affordable supportive senior housing and healthcare,” according to a press release.

In the release, Massachusetts Governor Maura Healey said the funding is part of an initiative to build and preserve 1,900 housing units across the state.