Transactions And Financings: Greene Park Capital Makes First Active Adult Investment; Continuum Advisors Sells 37-acre Campus

Transactions

Continuum Advisors sells 37-acre campus

Continuum Advisors announced its involvement in the sale of The Oaks at Bartlett, a 283-unit senior housing community near Chicago.

According to a press release, the 37-acre campus consists of 10 cottages, 154 independent living apartments, 49 assisted living units, 16 memory care units and 54 skilled nursing units.

The release states the community was sold through a court-supervised process with Michael F. Flanagan of Flanagan & Associates, LLC serving as the receiver. The community sold for $42 million.

BWE Investment Sales brokers sale of Capstone at Centerra

BWE Investment Sales announced it brokered the sale of Capstone at Centerra, an assisted living and memory care community in Loveland, Colorado, on Dec. 18.

According to a press release, the 102-unit community sold for $40 million.

The community was purchased by IRA Capital.

SLIB completes $2M sale

Senior Living Investment Brokerage completed a $2 million sale of assisted living and memory care community English Meadows on Dec. 16.

According to a press release, the community was originally built in 2017 and renovated in 2022 and 2023.

The release states the seller was a private company based in Virginia that “develops, owns and manages senior housing communities primarily in the Mid-Atlantic and Southeastern United States.” The buyer was a non-senior housing private investor.

Blueprint sells two senior notes

Blueprint sold two senior housing notes for a 1,200-unit portfolio across eight states.

A press release states all of the communities securing notes transitioned to a new national operator, with roughly 70% occupancy.

The release states the notes were “purchased for their approximate par value, including accrued interest, by a private asset-based lender.” The seller was a national financial services company.

SLIB sells Utah assisted living, memory care community

Senior Living Investment Brokerage facilitated the sale of a 116-unit assisted living and memory care community in Cottonwood Heights, Utah.

According to a press release, the community was built in 2001 and sits on two acres of land.

The release states The seller is a real estate investment trust that is “divesting to focus on core markets within their portfolio.” The buyer is a private equity group with a strategic operating partner growing its portfolio in Utah.

SLIB sells skilled nursing portfolio

Senior Living Investment Brokerage announced its involvement in the sale of the Guardian Healthcare portfolio on Dec. 13.

According to a press release, the portfolio consisted of five skilled nursing facilities in Pennsylvania totaling 299 beds.

The release states the seller is a private healthcare organization serving Pennsylvania and West Virginia, and the buyer is a regional owner-operator with “an existing presence in Pennsylvania and across the United States.”

Financings

Greene Park Capital makes first active adult investment

Chicago-based healthcare real estate investment firm Greene Park Capital has invested in a 225-unit active adult community.

According to a press release, this is Greene Park Capital’s first investment in the “multifamily, age-restricted space.”

“This property fits well within our overall seniors housing investment strategy where we can achieve attractive returns. Our pipeline for this sector is currently about $250 million and we expect it to grow as we seek out institutional quality active adult investment opportunities located in major metropolitan and suburban areas,” Jordyn Berger, partner and head of Greene Park Capital’s seniors housing platform said in the release.

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