Senior Living Dealbook: Jaybird Expands with Five Communities; AgeWell Solvere Living Expands Through Partnership

Transactions

Jaybird expands with five communities

Jaybird Senior Living has added five communities into its portfolio, each offering assisted living and memory care services.

The communities include The Retreat at Sunbrook and The Retreat at SunRiver in St. George, Utah, The Landings of Kaukauna in Kaukauna, Wisconsin and Autumn Grace and Water’s Edge in Mankato, Minnesota.

“Each of these communities reflects our mission to create vibrant, supportive environments where residents thrive and families feel peace of mind. We are honored to welcome their residents, families, and team members into the Jaybird family,” Justin Wray, president of Jaybird Senior Living, said in a press release.

Atlas Senior Living expands in Florida

Atlas Senior Living expanded its Florida portfolio with the acquisition of The Goldton at Lake Nona.

The community “combines hospitality-inspired amenities with specialized care, offering residents a secure and engaging environment,” according to a press release.

“Atlas has a strong presence in Florida, especially in the Orlando market,” Scott Goldberg, co-founder, president and CEO of Atlas Senior Living, said in the release. “This new community allows us to build on that. As always, we reject a one-size-fits-all approach — our goal is to embrace each community’s unique character and build on that culture while delivering hospitality and care.”

SLIB sells four-property portfolio

Senior Living Investment Brokerage facilitated the sale of a four-property portfolio throughout Michigan.

The portfolio is “well-maintained and highly regarded” in their markets, according to a press release.

The seller is a national owner and operator of senior living communities, and the buyer is a national owner and operator of senior living communities, the release states.

Liberty Senior Living takes ownership of Preserve at Fairfield Glade

Liberty Senior Living has taken ownership and management of Preserve at Fairfield Glade.

The community was previously known as Good Samaritan Society–Fairfield Glade and was operated by Good Samaritan, a press release states.

Now, Liberty will “introduce new initiatives including its signature INSPIRE wellness program, advanced technology, a chef-driven locally sourced culinary program, a robust calendar of activities and a vibrant social environment,” according to the release.

SRI Management welcomes two new communities to portfolio

SRI Management welcomed The Glen Villas in Cumming, Georgia, and The Glen at Oak Ridge in Oak Ridge, Tennessee to its portfolio.

Following the additions, SRI’s portfolio now totals 59 communities, according to a press release.

“These new additions represent our continued commitment to providing exceptional senior living experiences to residents and their families,” Todd Filippone, president of SRI Management, said in the release. “We are honored to bring our signature programs, compassionate care, and operational excellence to both The Glen Villas and The Glen at Oak Ridge.”

SLIB announces 125-unit transaction

Senior Living Investment Brokerage was engaged to sell a 125-unit senior living community in Wisconsin.

At the time of the transaction, the community boasted a 90% occupancy with “solid financial performance,” according to a press release.

The buyer is a public REIT that will keep the current management company as the operator, the release states.

Financings

Boston Financial closes on $237M fund

Boston Financial announced it has closed on a $237 million affordable housing fund.

The Boston Financial Institutional Tax Credits 62 Limited Partnership fund is the second largest multi-investor fund the firm has closed since 2006, a press release states.

The fund will allow the construction and preservation of 1,527 affordable rental homes in 16 communities across 10 states, according to the release.

Berkadia secures $26.8M for assisted living facility

Berkadia announced it secured $26.8M in 232/223f HUD financing for an assisted living facility in Washington state.

The financing was arranged on behalf of a Pacific Northwest-based sponsor, according to a press release.

The financing was transitioned from bridge to HUD financing, and paid off existing bank debt and captured equity built from operations, the release states.

Partnerships

AgeWell Solvere Living expands through partnership

AgeWell Solvere Living announced it has expanded its portfolio in Florida through a partnership with National Health Properties.

Through the partnership, AgeWell Solvere assumed the management of Addington Place at College Harbor in St. Petersburg and Addington Place of East Lake in Tarpon Springs, bringing its total portfolio to 35 communities, a press release states.

“Partnering with AgeWell Solvere Living was a natural fit,” Lindsay Gordon, senior vice president of head of senior housing at NHP, said in the release. “Their reputation for innovation, their emphasis on wellness, and their proven operational expertise make them an ideal partner to steward the future success of these two communities.”

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