Transactions

FellowshipLife acquires fifth community

FellowshipLife, a New Jersey-based nonprofit, announced it has added Applewood Village into its network of communities, expanding its portfolio to five.

According to a press release, Applewood Village was owned and operated by CentraState Healthcare System, and the community will still maintain ties with CentraState as “a preferred provider of comprehensive medical services” for residents.

“We are very proud to announce Applewood Village as the newest addition to the FellowshipLIFE family,” Brian Lawrence, president and CEO of FellowshipLIFE said in the release. “We are always looking for ways to expand our five-star services, quality healthcare offerings and lifestyle-centric programs to more older adults.”

DAS Health expands into Canada

DAS Health, a healthcare IT and business solutions company, announced it has expanded into Canada following the acquisition of the North American Digital Health Division of a digital transformation provider.

According to a press release, DAS will offer “a more robust portfolio of services” to its new Canadian client base.

“This acquisition represents a significant milestone in our growth strategy,” said Michelle Jaeger, president and CEO of DAS Health said in the release. “This expansion not only provides a footprint in Canada but also enhances our capabilities within the senior care space.”

SLIB sells skilled nursing facility in Texas

Senior Living Investment Brokerage announced it facilitated the sale of a skilled nursing facility in Longview, Texas on July 1.

The community has 108 beds and sits on three acres of land, according to a press release.

The release states the seller was a Texas-based partnership whose management company exited operations prior to the sale. The buyer owns and operates other skilled nursing facilities in the state, including one in the same market.

Blueprint sells skilled nursing, long-term community

Blueprint announced it was brought on by Selectis Health to sell a skilled nursing and long-term care community in Macon, Georgia.

The community, Archway Transitional Care, features 100 beds.

The community was sold to the operating tenant, Ethica Health & Retirement, one of the largest non-profit providers in the state.

SLIB closes on Texas assisted living community

Senior Living Investment Brokerage announced it facilitated the sale of Treemont Health Care Center in Houston, Texas on July 1.

The 112-bed community was built in 1974 and sits on 1.28 acres.

According to a press release, the seller was a regional owner and operator who wanted to exit the community due to operational challenges. The buyer is a local owner and operator looking to grow its footprint in the market.

Blueprint advises sale of Philadelphia community

Blueprint announced its role as the exclusive advisor on the sale of a 114-unit assisted living and memory care community in Philadelphia, Pennsylvania on July 3.

According to a press release, the real estate private equity owner acquired the community in 2018 and modernized the community. However, challenges with occupancy were exacerbated by the Covid pandemic.

The release states the community was marketed toward the middle market and received multiple competitive bids.

Walker and Dunlop sells 146-unit community

Walker and Dunlop announced that it closed on the sale of a 146-unit independent living, assisted living and memory care community on July 1.

According to a press release, the community is a stabilized Class A asset and was developed in 2022.

The release states the community was purchased by a public healthcare real estate investment trust.

Financings

CBRE hired as debt advisor for two Texas communities

CBRE announced it was hired as the debt and equity advisor for two active adult projects from AOG Living.

According to a press release, the Class A projects include ​​Novum Capitol View in south Austin and Novum Plano in north Dallas.

CBRE has secured $50 million from two loans for AOG’s entry into the active adult space.

Ziegler closes on $42.5M in acquisition financing

Specialty investment bank Ziegler announced it closed on $42.5 million in acquisition bonds for FellowshipLife on July 8.

According to a press release, the financing was used to acquire Applewood Village.

“Ziegler is pleased to have the opportunity to once again serve FellowshipLIFE as it continues to grow as a regional system,” Chad Himel, managing director of Ziegler Senior Living Finance, said in the release. “We continue to be impressed by FellowshipLIFE’s strategic growth and operational expertise as a leader in New Jersey.”

BWE secures $47M in refinancing funds

National commercial and multifamily mortgage banking company BWE announced it secured $47 million to refinance Discovery Village at the West End on July 11.

The community has 219 units and offers Class A independent living, assisted living and memory care, according to a press release.

The release states the financing was arranged on behalf of “a large private equity investor.”