Transactions
The Ensign Group acquires Nebraska campus
The Ensign Group announced on Oct. 2 that it acquired St. Joseph Rehabilitation and Care Center and Skyview Villa Assisted Living.
According to a press release, both communities are in Norfolk, Nebraska.
The acquisition brings Ensign’s portfolio to 324 healthcare operations, 30 of which also include senior living operations, the release states.
Arbor Terrace Acworth added to The Arbor Company portfolio
The Arbor Company added Arbor Terrace Acworth to its portfolio in Cobb County, Georgia.
Previously called Dogwood Forest, Arbor Terrace Acworth will introduce the organization’s Bridge program for memory care starting in January.
Arbor Terrace Acworth is the latest addition to the 11 Georgia communities already managed by The Arbor Company, according to a press release.
Evans Senior Investments facilitated the sale of Three Forks Senior Living of Forney in Forney, Texas on Oct. 3.
According to a press release, the community was built in 2013 and consists of 80 units.
The owner sold the community as a strategic exit from the industry.
Senior Living Investment Brokerage facilitated the sale of a 132-unit community in Gulf Breeze, Florida on Oct. 2.
According to a press release, the community sits on a 5.25 acre site and offers assisted living, independent living and memory care services.
The release states the seller was a local partnership that had reached the end of their investment horizon, and the buyer is a national owner and operator with “extensive experience” in Florida.
SLIB sells seven-property portfolio
Senior Living Investment Brokerage facilitated the sale of a seven-property assisted living program and adult home portfolio in New York on Oct. 1.
According to a press release, the portfolio consists of 230 units.
The release states the seller is an owner-operator of assisted living communities based in downstate New York and the buyer is a private real estate investor partnered with an experienced New York assisted living program operator.
Evans Senior Investments was involved in the sale of Stonehaven Assisted Living in Maumelle, Arkansas.
According to a press release, the community consists of 60-units.
The seller opted to exit the market and the community was purchased by a private company, who partnered with a Midwest-based operator for management services.
Blueprint was involved in the sale of a standalone memory care community in Grand Junction, Colorado on Oct. 10.
According to a press release, the community consists of 50 units and was built in 2016.
The community was sold to a “group that was open to a creative deal structure that maximized proceeds while providing the acquirer the flexibility to operate the community and stabilize operating cash flow,” the release states.
Blueprint represented a public real estate investment trust client in selling a Naples, Florida community.
According to a press release, the community consists of 116 units and was built in 2004.
The selected buyer was a joint venture between Persimmon Ventures, a public REIT and Silverwave Capital, the release states.
Mergers
Brightspire, The Well-Spring Group become Kintura
Nonprofits Brighspire and The Well-Spring group have come together to form a new organization called Kintura.
According to a press release, Kintura operations began immediately on Sept. 30 to run an organization made up of five owned and managed “life plan” or continuing care retirement communities, as well as an array of home- and community-based services for older adults.
The release states Kintura serves nearly 3,000 residents and employs more than 2,100 team members in North Carolina.
Management
Anthem Memory Care announced on Oct. 7 it has assumed management of Willow Springs Memory Care in Redding, California.
According to a press release, Anthem Memory Care is “managing all aspects of the community’s operations and will add regional staff, technology and training programs to adapt the community to its approach to care.”
Anthem Memory Care now manages more than 1,400 beds in its portfolio.
Atlas adds two Alabama communities to portfolio
Atlas Senior Living announced it is taking over management of Monark Grove Madison in Madison and Monark Grove Greystone in Birmingham on Oct. 2.
The transaction brings the Atlas portfolio in Alabama up to six.
The communities were built and owned by Kirco, a commercial real estate development and investment firm based out of Troy, Michigan.
Partnerships
HDG appointed to manage six communities
Health Dimensions Group announced it was appointed to manage six senior living communities in Iowa, Minnesota and Wisconsin effective Oct. 1.
According to a press release, the new communities include Garden View Place in Monona, Iowa; Arbor Garden Place in Eyota, Minnesota Harmony Place in Harmony, Minnesota, Lino Lakes Assisted Living in Lino Lakes, Minnesota and Whispering Oak Place in Ellendale, Minnesota and Apple Creek Place in Appleton, Wisconsin.
“We are excited to welcome these communities to HDG’s management portfolio,” Erin Shvetzoff Hennessey, CEO of HDG, said in the release. “This growth reflects HDG’s commitment to improving quality of life for seniors and their families throughout the nation, and our unwavering leadership in the senior living sector.”
Charter Senior Living, Curana partner
Charter Senior Living announced it has partnered with Curana Health to offer value-based care solutions for residents on Oct. 8.
According to a press release, the partnership has brought “concierge-style primary care services” to 22 of Charter’s communities.
Among the services Curana will provide are routine preventative primary care, urgent care services, palliative care, phlebotomy services and more.
Financings
JLL arranges $35M refinancing
JLL Capital Markets announced on Oct. 7 it arranged a $35 million construction-takeout refinancing on behalf of Ocean Hills Senior Living.
According to a press release, Ocean Hills Senior Living is a resort-style complex offering a mix of independent living, assisted living and memory care units in studio, one- and two-bedroom layouts.
The assisted living/memory care phase of the property was delivered in 2019, with the independent living portion opening in 2021, the release states.
