Press "Enter" to skip to content

Transactions & Financings: Tryko Buys, Rebrands Facilities; LongueVue Exits 2 SQLC Communities

Sales

NHI closes three sales to wrap up 2021

National Health Investors (NYSE: NHI) announced the sale of three senior housing communities in December, according to an update from the real estate investment trust. The three sales include:

  • A 76-unit property, located in Marysville, Ohio, netted $12 million in gross proceeds plus $3.6 million for a lease termination fee.
  • A 98-unit property, located in Maitland, Florida, netted $7.8 million in gross proceeds.
  • A 180-unit property, located in Nampa, Idaho, netted gross proceeds of $3.9 million.

Idaho independent living community sold

Chicago-based Senior Living Investment Brokerage (SLIB) announced the sale of Cottonwood Cove, an independent living community located near Pocatello, Idaho.

Cottonwood Cove, which includes 82 units, experienced occupancy near 100% throughout the Covid-19 pandemic. The property was the seller’s sole senior living asset. The buyer, based in the western U.S., plans to invest in renovations and expand services.

Florida assisted living and memory care community sold

SLIB announced the sale of Savannah Grand of Maitland, a 98-unit assisted living and memory care community located in Maitland, Florida.

The community is being sold by a publicly-traded real estate investment trust (REIT) to a regional owner/operator that plans to add this property to its existing presence in the area.

Alta Senior Living adds Jupiter assisted living, memory care property

Alta Senior Living acquired Tequesta Terrace, an assisted living and memory care community located near Jupiter, Florida in the village of Tequesta, according to a press release from real estate firm Blueprint.

The property had previously been the only Florida-based property in the portfolio of a company that sought to consolidate its efforts to the New England area.

Alta Senior Living, which has bicoastal headquarters in West Palm Beach, Florida, and Santa Monica, California, closed on the deal within one calendar year.

LongueVue exits 2 QSLP communities

Quality Senior Living Partners (QSLP) announced the sale of two properties to a publicly-traded REIT, according to a report.

QSLP, a New Orleans-based company within the LongueVue Capital portfolio, announced the sale of the Harahan, Louisiana-based The Blake at Colonial Club and the Charlottesville, Virginia-based The Blake at Charlottesville. Both communities include 118 units for memory and assisted living.

QSLP marks the eighth exit for LongueVue’s LVC II fund.

“LongueVue Capital has been a fantastic partner enabling us to accomplish our goal of providing outstanding senior living services that are meaningful, compassionate, and innovative,” said Andy Yarborough, CEO of QSLP. He added, “LVC’s partnership approach and significant experience—coupled with their commitment to provide both capital and strategic resources to help us accomplish our objectives—has made them the ideal private equity partner for QSLP.”

Lloyd Jones buys Texas apartment community

Miami-based real estate firm Lloyd Jones announced the acquisition of Seville at Clay Crossing, according to a press release.

Built in 2020, Seville at Clay Crossing is a 351-unit multifamily apartment community in Katy, Texas.

Tryko Partners acquires North Jersey skilled nursing, assisted living communities

Brick, New Jersey-based real estate investment firm Tryko Partners announced the addition of Seacrest Village – now branded as the Seacrest Rehabilitation and Healthcare Center – and The Terraces at Seacrest Village to its portfolio, according to a press release.

Together, the Little Egg Harbor, New Jersey-based communities offer skilled nursing, assisted living, and memory care services.

Tryko will begin an immediate capital improvement plan for the properties with the intent to further modernize the facilities, according to a statement from Tryko Director of Acquisitions, Uri Kahanow.

Financings

Ziegler advises on $52 million loan for Hawaii community

Chicago-based specialty investment bank Ziegler announced that Island Paradise Investments successfully closed on a $52 million bridge loan to refinance existing debt for its Kalakaua Gardens community

Honolulu-based Kalakaua Gardens, which opened in 2016, offers independent living, assisted living, skilled nursing care, and memory care services.

The post Transactions & Financings: Tryko Buys, Rebrands Facilities; LongueVue Exits 2 SQLC Communities appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News

Be First to Comment

    Leave a Reply

    %d bloggers like this: