Senior Living Dealbook: Agewell Expands With Seven Communities; California Community Under New Management 

Transactions

AgeWell expands with seven community transaction

AgeWell Senior Living has assumed the management of seven communities across Virginia and South Carolina.

The new communities can be found in Berryville, Fishersville and Harrisonburg, Virginia, as well as Camden, Fort Mill, Hartsville and Indian Land, South Carolina, a press release states.

The expansion” represents a significant step in AgeWell Senior Living’s continued growth strategy,” according to the release.

American House Senior Living Communities expands in Tennessee

American House Senior Living Communities expanded in Brentwood, Tennessee through a collaboration with AEW Capital Management and Winterpast Capital Partners.

Traditions of Mill Creek has been renamed American House Mill Creek, and brings the operator up to 12 communities in the state, according to a press release.

“The addition of American House Mill Creek marks an exciting milestone in our continued growth across Tennessee,” Dale Watchowski, CEO of American House, said in the release. “As we welcome this community into our portfolio, we bring the foundation that defines American House—deep operational expertise, disciplined execution and experienced leadership—to further elevate the resident experience.”

The Landing at Carmichael under new management

Agemark Senior Living has assumed management of The Landing at Carmichael in Carmichael, California.

The community will continue operating as an independent living community, with Agemark “focused on honoring the community’s existing culture while thoughtfully enhancing the resident experience,” according to a press release.

“We are honored that we have been entrusted with the opportunity to manage this community,” Michael Pittore and Forrest Westin, co-CEOs of Agemark Senior Living, said in the release.

Selectis Health to be acquired by Black Pearl

Healthcare company Selectis Health, Inc. has entered into an agreement and plan of merger with affiliates of Black Pearl Equities.

Black Pearl will acquire all outstanding shares of Selectis common stock for $5.75 per share, according to a press release.

The transaction is expected to close in the third quarter, the release states.

Two-community portfolio under new ownership

Senior Living Investment Brokerage announced it facilitated the sale of a two-community portfolio in Albert Lea, Minnesota.

The portfolio consists of a 48-unit assisted living community and a vacant 169-bed skilled nursing facility, according to a press release.

The communities were sold by a nonprofit in order to focus on its core campuses. The buyer is a regional owner-operator looking to expand its footprint in the state, the release states.

Upstate New York skilled nursing facility trades hands

Blueprint was involved in the sale of The Pearl Nursing Center of Rochester, a 120-bed skilled nursing and long-term care facility in upstate New York.

The community was built in 1975 and is located adjacent to the Rochester General Hospital campus, according to a press release.

All parties worked together to complete the transaction upon buyer’s receipt of HUD approval for the loan assumption, the release states.

Rebrandings

Certus Living rebrands community

Certus Living announced that Lexington Square is changing its name to Prairie Path.

As part of the transition, the Prairie Path will undergo community-wide renovation exceeding $14 million in investment over the following 18 months to modernize the community and enhance the resident experience, a press release states.

Renovations will include common area refreshments, upgraded spa-like amenities and an expansion of independent living units, according to the release.

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