We are now well into the second quarter of 2015, and senior housing investments and transaction deals show no signs of slowing down. Some of the latest transactions include the following:
Brentmoor Retirement Community Acquired by Titan SenQuest Management, Inc.
The deal was facilitated by Greystone, a real estate investment and advisory company. The property was acquired for an undisclosed amount. Brentmoor Retirement Community is comprised of 72 independent living units, and 18 assisted living units. This was an attractive investment for Titan because of “the unit mix and prime location within an affluent baby boomer demographic.”
ROC Seniors Purchases 14-Property Portfolio in a $230 Million Transaction
The sale was facilitated by Holliday Fenoglio Fowler, L.P. on behalf of the seller, a joint venture between multiple venture capital companies. ROC Seniors Housing Fund Manager purchased the property portfolio, which includes 14 communities with a total of 1,038 units. The communities are located in California, Oklahoma, Ohio, Texas, West Virginia, and North Carolina. The portfolio was acquired for $230 Million. The properties contain a mix of independent living, assisted living, and memory care.
Arcadia Nursing & Rehabilitation Center Acquired for $15 Million
The purchaser of the 115 bed skilled nursing facility was a private regional investor, who purchased from another private local company looking to sell a portion of its portfolio. Arcadia’s amenities include two private courtyards, an on-site movie theater, as well as a rehabilitation room. The property adjacent to Arcadia has been zoned and approved for the building of a long-term care, assisted living, and medical office space.
Granite Investment Group Sold Two Properties for $23.4 Million
The California-based investment company announced that it has sold two senior housing properties in the Austin, Texas area for a $23.4 million price tag. The sale involved Park Place Care Center and Assisted Living, and Pflugerville Care Center. Park Place is a senior assisted living community combined with skilled nursing. The community offers 24-hour care, rehabilitation, activity directors, and spiritual care for its residents. Granite originally purchased Park Place in 2007 for approximately $9 million. Pflugerville Care Center is a skilled nursing facility, providing its residents with rehabilitation, therapy gardens and gyms, and intravenous care. The property was originally purchased by Granite in 2005 for approximately $9 million.
Contact Cambridge Realty Capital
Cambridge Realty Capital specializes in providing financing and capital for acquisitions and large-scale improvements to senior living facilities. For any questions regarding finance and capital for your senior living initiative, contact Cambridge Realty Capital.