Senior Living dealbook: class-a Community In New Hands; Nonprofit Operator Offloads Portfolio 

Transactions

Class-A Midwest community in new hands

Evans Senior Investments announced it closed on a Class-A senior living community in the Midwest.

The community offers “a high-quality care environment and a robust amenity package, serving its local market with a meaningful complement of units across multiple levels of care,” according to a press release.

ESI represented the seller in the transaction. The buyer was “an experienced seniors housing investor with an established operational platform and a demonstrated track record of owning quality communities across the nation,” the release states.

Two Twin Cities communities sold

JLL Capital Markets arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living located in Lake Elmo and Arden Hills, Minnesota.

The 216-unit portfolio was sold by the developer, Trident Development, according to a press release. Both communities offer independent living, assisted living and memory care services.

The communities were purchased by LTC Properties. Lifespark will remain as the operator for both communities, according to the release.

Nonprofit operator offloads portfolio

Blueprint announced its involvement in the sale of a senior housing portfolio on behalf of a mission-driven nonprofit organization.

The communities were “outside the seller’s core geography” and offer a full continuum of care, according to a press release.

The portfolio was acquired by a joint venture of “experienced private equity and a regional operating partner,” the release states.

Kentucky assisted living, memory care community sold

JLL Capital Markets arranged the sale of Preston Greens Senior Living, a 124-unit, Class A assisted living and memory care community in Lexington, Kentucky.

The community was acquired by a partnership between an established real estate investment trust and Cedarhurst Senior Living, according to a press release.

The community opened in 2021 and offers residents “extensive amenities,” including multiple dining venues, a full-service bistro and bar, fitness center, salon, therapy and massage rooms, art studio, theater and landscaped outdoor areas including a courtyard, garden, dog park and putting green, the release states.

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