Senior Living Dealbook: Ventas Acquisition in Florida; Stellar Completes Two Arizona Acquisitions

Transactions

Ventas acquires two Florida communities

Ventas has acquired Sonata Boca Raton and Sonata Vero Beach senior housing communities and retained AgeWell Solvere Living as the incumbent manager.

The transaction marks a new operator partnership between both companies, a press release states.

“We are excited to establish this relationship with Ventas, a leader and true visionary in the senior housing industry,” David Mills, president of AgeWell Solvere Living, said in the release.

Stellar Senior Living completes two Arizona acquisitions

Stellar Senior Living has acquired The Oaks and The Groves, two communities in Arizona.

The acquisition was completed through a joint venture with Bakerson Companies. Stellar has managed both communities since 2023, a press release states.

“It’s a privilege to bring The Oaks and The Groves into full ownership under the Stellar Senior Living name,” Evrett Benton, president and CEO of Stellar, said in the release. “These are exceptional communities with outstanding residents and staff. We’re excited to continue building on their success and to serve the seniors of Arizona with the care and respect they deserve.”

Blueprint engaged in North Carolina deal

Blueprint was engaged by a national lender and special servicer to lead the sales process of a 75-unit senior living community in the Raleigh, North Carolina metropolitan area.

The community “offered a highly attractive profile, including strong in-place occupancy, solid cash flow and exposure to one of the Southeast’s most robust senior housing markets,” according to a press release.

Throughout the process, there was “strong engagement” from regional operators, private equity groups and national owners, the release states.

Blueprint advises on Alabama transaction

Blueprint was engaged to maximize the value of a 46-unit assisted living and memory care community in Mobile, Alabama.

Challenged occupancy and volatile staffing had caused the community to struggle in recent years, according to a press release.

An owner-operator with an existing presence in the area was ultimately selected as the buyer, the release states.

Blueprint engaged in Memphis transaction

Blueprint was engaged by a “prominent lender and special servicer” in the senior living sector to help sell a 52-unit assisted living and memory care community in Memphis, Tennessee.

The community struggled to bounce back from pandemic-era lows, according to a press release.

Prospects with a presence or interest in the area were targeted throughout the process.

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