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Transactions and Financings: HealthDrive Acquired; SLIB Facilitates Sale of Two Communities

Transactions

Shadowbrook Resort sold, to become independent living community

The six-decades-old Shadowbrook Resort based out of Wyoming County, Pa., is expected to close on a sale to developer Richard Angelicola on Aug. 31.

Reporting from The Times-Tribune states the 100-unit apartment facility will add to Angelicola’s current portfolio of Glenmaura Senior Living, Highland Park Senior Living and the Village at Greenbriar.

The price for the sale was not disclosed.

McCaffery Interests to buy Arlington senior living site

Chicago developer McCaffery Interests wants to buy and build a senior living facility on a 2.8 acre site in Arlington County, Washington.

Reporting from The Washington Business Journal states the facility, called Solera Reserve, is similar to a facility currently entitled on the site but is 6,400 square feet larger and would add an independent living component.

McCaffery was previously involved in the area with the redevelopment of Alexandria’s North Potomac Yard.

Gardant Management adds 25 communities to portfolio

Gardant Management Solutions is growing its presence by adding 25 senior housing communities in the Midwest to its portfolio.

Read more on Senior Housing News.

Foundry Commercial adds 16 communities to growing Spring Arbor Management platform

Real estate services and investment firm Foundry Commercial has added 16 senior living communities to its Spring Arbor management arm, growing the platform to now 40 communities nationwide.

Read more on Senior Housing News.

Acquisitions

Cressey and Company acquire HealthDrive

Private investment firm Cressey and Company announced on Aug. 22 it acquired HealthDrive.

HealthDrive is a multi-speciality clinical services organization for more than 150,000 patients in long-term facilities across 20 states.

HealthDrive was acquired from Bain Capital Double Impact after a five year partnership.

Closings

Senior Living Investment Brokerage facilitates sale of two AL communities

Senior Living Investment Brokerage facilitated the sale of two assisted living communities in Albuquerque, N.M.

According to SLIB, the new owner and operator is expanding their presence in the western United States, with this being their first operation in New Mexico. The seller was looking to retire from the industry.

The communities were built in 1972 and 1982 and renovated in 2011 and 2015.

The post Transactions and Financings: HealthDrive Acquired; SLIB Facilitates Sale of Two Communities appeared first on Senior Housing News.

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