Minnesota Senior Living Provider Acquires Local Facilities Through USDA Loans Heartland Senior Living, a Minnesota non-profit senior living provider, will acquire three southern Minnesota communities from current owner Eldercare of Minnesota, with the sale expected to close in the fourth quarter of 2017, according to a report from the Albert Lea Tribune. The three Minnesota […]
Blueprint Healthcare Real Estate Advisors
Fortis Management Group Files for Receivership Fortis Management Group filed for receivership in an agreement with its landlords, the company revealed on July 12. The Milwaukee-based management company operates 60 skilled nursing facilities and five independent and assisted living communities throughout Michigan, Minnesota, Wisconsin, Oregon, Washington and Idaho. Read the full story on Skilled Nursing […]
Vitality Senior Living Buys Community in Allen, Texas Nashville’s Vitality Senior Living has purchased an 86-unit independent living, assisted living and dementia care community in Allen, Texas. Vitality rebranded the year-old community as Vitality Court, Texas Star, according to a press release. “Our plan is to build upon an already great community with Vitality-specific physical plant and […]
Cushman & Wakefield Arranges Sale of Senior Community Near St. Louis Cushman & Wakefield announced it advised a joint venture of Provision Living Senior Communities and real estate investment trust Welltower (NYSE: HCN) in the sale of Provision Living at Webster Groves to Sunrise Senior Living, for an undisclosed price. Provision Living is an assisted living and […]
Care Capital Properties to Acquire $400 Million Behavioral Health Portfolio Care Capital Properties, Inc. (NYSE: CCP) has entered into a definitive agreement to acquire six behavoiral health hospitals in a sale-leaseback transaction for $400 million and to fund up to $50 million in capital expenditures to finance expansion and improvements in the portfolio. The properties […]
CNL Healthcare Properties II Makes Its First Acquisition CNL Healthcare Properties II, Inc., a non-traded real estate investment trust (REIT) focused on seniors housing and health care properties, made its first acquisition by purchasing Summer Vista Assisted Living Community, a newly-constructed senior living community located in Pensacola, Florida. SRI Management, LLC, the company that has […]
HCP Completes $1.125 Billion Sale of Brookdale Portfolio Healthcare real estate investment trust (REIT) HCP (NYSE: HCP) completed the previously-announced sale of a portfolio of 64 triple-net assets leased to Brookdale Senior Living, Inc. (NYSE: BKD) to affiliates of Blackstone Real Estate Partners VII L.P. in a deal worth $1.125 billion. HCP expects to record a […]
Blackstone Buys Florida Properties for $155 Million Blackstone Group (NYSE: BX) purchased four senior living communities from Welltower Inc. (NYSE: HCN) in South Florida for a combined $154.7 million. The acquisitions are part of a previously announced $1.13 billion deal between Blackstone and Brookdale Senior Living (NYSE: BKD). The transactions include: Mangrove Bay, a 155-unit complex […]
Texas Investors Buy $185 million SNF Portfolio Dallas businessmen Chuck Putnam and Donald Kivowitz have purchased a portfolio of 10 skilled nursing facilities (SNFs) in Maryland and Pennsylvania for $185 million. The portfolio includes approximately 1,297 beds total. The transaction was financed by a syndication led by Bank of Texas, an affiliate of BOK Financial […]
NHP Foundation-Urban Athletic Fund Acquires Connecticut Portfolio for $43 Million The NHP Foundation-Urban Atlantic Fund I, LLC acquired four apartment complexes in Connecticut for approximately $43 million. The portfolio consists of 404 total units, and all properties benefit from a Project-Based Section 8 Housing Assistance Payment (HAP) contract for all units. The $50 million equity fund was […]
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