Memory Care Transactions And Financings: Blueprint Completes Over $1b In Sales Volume In Texas;

Editor’s note: Below is a collection of transactions and financings that include memory care components from September to early December 2024

Anthem Memory Care assumes management of California community

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.

Blueprint sells memory care community in Dayton

Blueprint announced it sold a 60-unit memory care community in a Dayton, Ohio suburb on Nov. 7.

According to a press release, the community had nearly 100% occupancy when it was being marketed.

Kauhale Health was selected as the buyer.

Blueprint sells Phoenix community

Blueprint announced it facilitated the sale of an 89-unit assisted living and memory care community in Phoenix, Arizona.

The community features nine “uniquely designed” homes in a residential setting, according to a press release.

The community was purchased by a regional owner and operator.

Blueprint sells Ohio community

Blueprint was tapped by a joint venture between two national investors to sell an assisted living and memory care community in Pickerington, Ohio.

According to a press release, the community was a “non-core component” of a previous transaction and saw occupancy challenges post-Covid.

The release states the selected buyer plans to “reposition the asset as the premier affordable option in the submarket.”

Blueprint sells memory care community

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 sells Georgia assisted living, memory care community

Blueprint sold a 66-unit assisted living and memory care community in Buford, Georgia on Sept. 19.

According to a press release, the community was built in 1996 and is “well-positioned for revitalization.”

Blueprint represented an institutional real estate and development firm in the transaction.

Blueprint surpasses $1B in sales volume following Texas sale

Blueprint sold an assisted living and memory care community in McKinney, Texas on Sept. 3, allowing the company to surpass $1 billion in sales volume in Texas.

According to a press release, the community was built in 1993 and had a 98% occupancy rate when it was marketed.

The community was sold to a “newly launched privately traded real estate investment trust that focuses on seniors housing investments,” the release states.

SLIB sells 156-unit community

Senior Living Investment Brokerage announced it facilitated the sale of Anthology of Olathe in Olathe, Kansas.

According to a press release, the 156-unit independent living, assisted living and memory care community was built in 1978.

The release states the seller is a national owner and operator, and the buyer is an East Coast-based private equity group partnering with a New York-based operator.

SLIB sells Illinois community

Senior Living Investment Brokerage announced it sold a 46-unit memory care community in Taylorville, Illinois.

According to a press release, the community sits on 4.2 acres and “offers a prime Central Illinois location.”

The seller, a private equity company, sought to divest and redeploy capital. The buyer wanted to expand their Illinois footprint, the release states.

SLIB sells 132-unit community

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 Minnesota memory care community

Senior Living Investment Brokerage announced it facilitated the sale of Elk Ridge, a memory care community in Maplewood, Minnesota.

According to a press release, the community consists of 50 units and was built in 2018.

This was the seller’s last remaining senior living asset, and the buyer is an in-state owner and operator looking to grow their footprint in the state, the release states.

Two Spring Arbor communities sold

Blueprint announced it was engaged by a national owner and operator to sell two Spring Arbor communities in Richmond, Virginia.

Both communities totaled 118 units combined of assisted living and memory care offerings. The communities were built in 2004 and 2015 respectively.

According to a press release, the communities were purchased by a regional nonprofit owner and operator.

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.

BWE secures refinance for Gentry Park Orlando

BWE announced on Oct. 23 it secured a refinancing for Gentry Park Orlando, an independent living, assisted living and memory care community in Orlando, Florida.

According to a press release, the community is composed of 176 units.

Gentry Park Orlando is owned by a partnership between Meridian Senior Living and Buvermo Investments Inc. and managed by Meridian Senior Living.

1019 Senior Living acquires two Indiana communities

1019 Senior Living announced it has acquired two senior living communities in Wabash and Crawfordsville, Indiana.

The communities have been renamed to 1019 Belle’s Place of Wabash and 1019 Belle’s Place of Crawfordsville, according to a press release.

The release states the acquisitions are part of 1019 Senior Living’s focus on providing senior living in the Midwest with specialized memory care services.

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.

JLL arranges $95.6M in refinancings

JLL Capital Markets announced it arranged a $96.5 million refinancing for a five-property portfolio in Arizona.

According to a press release, JLL worked on behalf of the borrower, Douglaston Development and The Hampton Group Inc., to secure the bank financing.

The portfolio consists of 510 independent living units, 339 assisted living units and 122 memory care units and is in the Phoenix, Mesa, Sedona and Chandler metropolitan areas.

Mustang Creek Enterprises acquires sixth community

Mustang Creek Enterprises, an assisted living and memory care developer in North Texas, took ownership of its sixth community on Sept. 18.

According to a press release, the company closed on the purchase of Mustang Creek Estates of Frisco and took ownership of the community.

The community has 80 units total and has been operated by Mustang Creek Estates since 2014.

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