Transactions

Atlas acquires three Orlando communities

Atlas Senior Living and affiliate company Salta Capital announced it acquired three senior living communities in Orlando, Florida submarkets on July 22.

According to a press release, the acquisition “underscores Atlas Senior Living’s commitment to expanding its footprint and enhancing senior living solutions in Florida and the Southeastern U.S.”

Following the acquisition, Atlas announced it is planning $1.5 million in renovations across the three communities.

SLIB closes on New Vegas community

Senior Living Investment Brokerage facilitated the sale of Sterling Ridge Living in New Vegas, Nevada on July 19.

According to a press release, the community was built in 1974 and received “continually renovations,” the most recent of which was completed in 2023.

The seller was a private equity firm that is exiting the senior housing industry, and the buyer was a private owner and operator that is building up a portfolio in the western region of the country.

Walker and Dunlop sells three asset portfolio

Walker and Dunlop Investment Sales announced it sold a three asset portfolio in Oakland County, Michigan on July 24.

According to a press release, the portfolio consists of Blossom Village, Blossom Ridge and Blossom Springs and was built in 2019.

The portfolio was acquired by StoryPoint Group, which has senior housing communities in nine states.

Financings

Berkadia completes $1.7B in 2024 sales

Berkadia announced that as of July 18 that it has completed $1.7 billion in transactions and sales in the first half of 2024.

According to a press release, it is a record breaking amount of transaction volume for the company.

“We expect the momentum to continue as we head into the second half of the year as we see strong demand and clients eager to get deals across the finish line,” Cody Tremper, managing director of investment sales, said in the release. “We’ve seen a significant increase in bid volume over the past few months from groups with capital who are interested in investing in the current marketplace.”

JLL arranges $28M sale of Washington community

JLL Capital Markets announced on July 15 that it arranged the $28 million sale of Van Mall Retirement, a 191-unit in Vancouver, Washington.

According to a press release, the community was built in 1989 and expanded in 1994.

The community was sold by Lytle Enterprises and purchased by a regional owner and operator.

Management

LCB takes management of three communities

LCB Senior Living announced it has taken over the management of three communities on July 15.

According to a press release, the company has assumed management of The Residence at Natick South, The Residence at Charles Meadow and Mercer Hill at Doylestown.

In total, the three communities add 325 apartments to LCB’s management portfolio.

Onelife expands to fourth California community

Onelife Senior Living, a family-owned senior housing operator and developer, announced it has assumed management of the former Pacifica Senior Living Oxnard.

According to a press release, the community has been renamed to The Vistas at Oxnard as part of the transition.

All staff members will be retained and additional Onelife staff will be brought into the community as needed. The announcement marks Onelife’s expansion in California with four communities.