Memory Care Transactions And Financings: Thrive Grows In Texas; Blueprint Sells Memory Care Community

Thrive expands Texas footprint

Thrive Senior Living will be opening a new community in Tarrant County, Texas next year.

According to a press release, the Encore at Heritage-Glen will feature 50 assisted living suites and 25 suites in a memory care neighborhood.

The community is being completed in collaboration with Orison Holdings.

Ziegler advises Confluent on community sale

Investment bank Ziegler announced its role in advising Confluent Senior Living on the sale of a 110-unit community.

The assisted living and memory care community is located in Beavercreek, Ohio.

According to a press release, the community was purchased by not-for-profit Community First Solutions, who took over operations on Aug. 1.

Blueprint sells 42-unit memory care community

Blueprint announced it was engaged to sell Gurnee Place Memory Care, a 42-unit memory care community in Gurnee, Illinois on Aug. 22.

According to a press release, the community was at 90% occupancy when it was marketed.

The community was sold by Receiver to a Minnesota-based private equity firm.

Blueprint advises sale of Philadelphia community

Blueprint announced its role as the exclusive advisor on the sale of a 114-unit assisted living and memory care community in Philadelphia, Pennsylvania on July 3.

According to a press release, the real estate private equity owner acquired the community in 2018 and modernized the community. However, challenges with occupancy were exacerbated by the Covid pandemic.

The release states the community was marketed toward the middle market and received multiple competitive bids.

Walker and Dunlop sells 146-unit community

Walker and Dunlop announced that it closed on the sale of a 146-unit independent living, assisted living and memory care community on July 1.

According to a press release, the community is a stabilized Class A asset and was developed in 2022.

The release states the community was purchased by a public healthcare real estate investment trust.

Management

SRI Management adds Virginia community to portfolio

SRI Management is collaborating with Impact Senior Living to add Carriage Hill Retirement to its portfolio.

The community specializes in assisted living and memory care services, according to a press release.

“This partnership marks a new frontier for SRI Management, and we’re excited to welcome Carriage Hill Retirement into our portfolio. We look forward to bringing our shared vision of exceptional senior care to this wonderful community,” SRI Management President Todd Filippone said in the release.

SRI Management adds Alabama community

SRI Management announced it has added Pioneer Senior Living at Upland Park to its offerings of communities.

The community offers independent living, assisted living, and memory care options and 24 beautifully designed retirement villas, according to a press release, and is a Nicol Investment Company owned property.

“Huntsville is a vibrant and growing area, and we are excited to foster strong connections within the community,” Don Bishop, CEO of SR Companies, said in the release. “Our goal is to ensure that Pioneer Senior Living is not just a place to live, but a true community where residents can engage and thrive.”

Thrive Senior Living assumes management of three communities

Thrive Senior Living announced on Aug. 14 that it has assumed the management of three new communities in Georgia.

The communities are owned by At Home Living and are located in Cochran, Jesup and Thomson.

The Thomson and Jesup locations each feature 32 assisted living units and 16 memory care units, and the Cochran location offers 32 assisted living units, 16 memory care units and eight independent living units, according to a press release.

Partnerships

Highgate Senior Living taps rehab services partner

Highgate Senior Living announced on July 16 it has selected HealthPro Heritage to provide rehabilitation services at its communities.

According to a press release, HealthPro Heritage will be providing physical, occupational and speech language therapy for residents alongside fall prevention, memory care and care coordination programming.

“We are looking forward to our partnership with HealthPRO Heritage so our residents can get quality support with licensed therapists,” Marcie Suppé, director of resident services for Highgate Senior Living said in the release. “We are impressed with their wide range of services available to improve wellness, mobility, fitness and quality of life.”

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