Capital Senior Living Corporation (NYSE:CSU) recently completed the acquisition of five senior living communities for a purchase price of $49.4 million. The communities, located in Texas and Indiana, offer levels of care that include independent living, assisted living, and memory care. CSU financed the communities with approximately $37.5 million of 10-year, fixed rate, non-recourse debt […]
Category: Acquisitions
Alchemy Management LLC’s $6.25 million purchase offer for Dearborn Towers, a senior apartment complex located in Clearwater Beach, Fla., has been approved by the local city council, reports the local Press & Guide. The Clearwater Beach-front building has been on the market since 2010 and residents have faced uncertainty as to the future of the […]
MedHoldings, Inc. recently acquired an assisted living facility near Atlanta, Ga. through an affiliate for $6.6 million. The Carlton, formerly known as Summer’s Landing Mt. Vernon, is an assisted living and memory care community which follows Jewish traditions, including kosher food service, one of just a few assisted living communities in the United States to […]
Real estate investment services firm Marcus & Millichap recently sold two senior housing communities, both located in suburban Pittsburgh, Pa., for a total of $7,850,000. The first property, Concordia of Franklin Park (formerly Pristine Pines of Franklin Park), is a 56-unit, 100-bed licensed personal care home with a 60% occupancy rate located in Sewickley, Pa. […]
Senior Living Executive, the Assisted Living Federation of America’s magazine, has just released its annual list of the nation’s Top 80 Largest Providers, topped this year by Brookdale Senior Living (NYSE:BKD). The list ranks for-profit senior living operators by total resident capacity as of the first of the year, as reported by each company. “REITs […]
California Commercial Investment Co. of Westlake Village has just acquired an affordable senior housing complex located in Van Nuys, Calif., for more than $15 million, according to the Los Angeles Times. The 12-story Fickett Towers, named after former Navy chaplain Harold Lord Fickett, is a 200-unit apartment complex that was completed in 1973. The buyer, […]
JCH Consulting Group, a senior housing and care facility brokerage firm, recently announced the $6 million sale of an assisted living community located in Lompoc, California. The Lodge of Lompoc is a 67-unit, 130-bed assisted living community that had an occupancy rate of about 80% at time of sale. The seller, Lompoc Retirement, Inc., was […]
Long-term care provider AdCare Health Systems, Inc. (NYSE Amex:ADK) has signed purchase agreements for two Oklahoma skilled nursing facilities for a total of $11.6 million. The facilities have an aggregate 239 beds in service, and generate an estimated $10.3 million in gross annualized revenues, according to their most recent financial statements. AdCare expects to complete […]
An affiliate of Lehman Brothers Holdings recently sold a Missouri senior care facility for an undisclosed sum to Mark Suissa of Chicago, who operates six other skilled nursing facilities, reports the St. Louis Business Journal. The sale of West County Regional Rehab Center, dba The Cedars at the JCA, will be effective March 27, at […]
New York retirement community developer Senior Care Development, LLC has agreed to pay more than $86 million for the Clare at Water Tower, a luxury senior living residence located in Chicago’s Gold Coast that filed for bankruptcy protection last November, reports Crain’s. Harrison, N.Y.-based Senior Care Development, LLC would pay $29.5 million in cash for […]
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