Transactions and financing: Tryko buys, renames the facilities; LongueVue leaves 2 SQLC communities

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Sales

NHI closes three sales to close 2021

National Health Investors (NYSE: NHI) announced the sale of three senior residences in December, according to an update from the Real Estate Investment Trust. The three sales include:

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

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

Cottonwood Cove, which includes 82 units, has seen near 100% occupancy throughout the Covid-19 pandemic. The property was the seller’s only senior citizen’s property. The buyer, based in the western United States, 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 community of 98 assisted living and memory-care housing located in Maitland, Florida.

The community is sold by a publicly traded Real Estate Investment Trust (REIT) to a regional owner / operator who plans to add this property to their existing presence in the region.

Alta Senior Living adds assisted living in Jupiter and memory care property

Alta Senior Living has acquired Tequesta Terrace, an assisted living and memory-care community located near Jupiter, Fla. In the village of Tequesta, according to a press release from real estate company Blueprint.

The property was previously the only Florida-based property in the portfolio of a company looking to consolidate its efforts in the New England area.

Alta Senior Living, which is headquartered in West Palm Beach, Florida, and Santa Monica, California, closed the deal within one calendar year.

LongueVue leaves 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 Blake at Colonial Club, based in Harahan, Louisiana, and The Blake, based in Charlottesville, Va., In Charlottesville . The two communities include 118 units for memory and assisted living.

QSLP marks the eighth release of LongueVue’s LVC II fund.

“LongueVue Capital has been a fantastic partner in helping us achieve our goal of providing exceptional senior living services that are meaningful, compassionate and innovative,” said Andy Yarborough, CEO of QSLP. He added, “LVC’s partnership approach and extensive experience, coupled with its commitment to providing both capital and strategic resources to help us achieve our goals, have made it the private equity partner. ideal for QSLP.

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

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

Tryko Partners Acquires Skilled Nursing and Assisted Living Communities in North Jersey

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

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

Tryko will launch an immediate capital improvement plan for the properties with the intention of further modernizing the facilities, according to a statement from Tryko’s director of acquisitions, Uri Kahanow.

Funding

Chicago-based specialty investment bank Ziegler announced that Island Paradise Investments has successfully entered into a $ 52 million bridge loan to refinance existing debt in its community of Kalakaua Gardens.

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

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