Senior Living Dealbook: Harbor Health Acquires Ripple; Charter Expands Ventas Relationship

Transactions

Harbor Health acquires Rippl

Harbor Health , a Texas-based primary and specialty care clinic group and health insurance company, announced it acquired dementia care platform Rippl.

The acquisition “advances Harbor Health’s strategy to expand its condition-focused care pathways and strengthen the company’s integrated model,” according to a press release.

“Integrating Rippl’s dementia platform into our expanding library of condition-focused care pathways gives our health teams another powerful tool to manage complex health needs,” Tony Miller, Harbor Health co-founder and CEO, said in the release. “As our health plan membership grows rapidly, these pathways are essential for keeping coverage more affordable and taking better care of people. That’s our priority.”

Nonprofit Village on the Isle buys 50 acres

Village on the Isle, a nonprofit life plan community in Venice, Florida, purchased 50 acres of land in Venice for $21.5 million.

The new land will be used for the creation of a satellite campus called Arbor Vita – a Village On The Isle community, a press release states.

Village on the Isle’s occupancy is full, with plans to open two new buildings that will add 54 independent living units. Both buildings are 100% presold, the release states.

Plains Commercial sells Oklahoma community

Plains Commercial announced the sale of Village at Oakwood Assisted Living in Oklahoma City, Oklahoma.

The transaction was off-market to help a local private investment group, a press release states.

The buyer is an investor with other low income focused assisted living assets in Oklahoma who was familiar with the state’s Medicaid waiver program, according to the release.

Blueprint advises on off-market transaction

Blueprint advised on an off-market sale of a standalone memory care community in San Antonio, Texas.

The community was built in 2013 and had previously been marketed in late 2023, according to a press release.

Blueprint announced it closed the transaction 50 days after letter of intent execution, the release states.

Financings

Coastal States Bank closes on $9M loan

Coastal States Bank announced it closed on a $9 million loan to refinance a 90-unit memory care community in Centerville, Ohio, along with acquiring a 53-unit memory care community in Creve Coeur, Missouri.

Following the closing, Kauhale Healthcare Management began managing the community in Creve Coeur and will continue managing the Centerville community on behalf of the loan’s sponsor, a press release states.

The loan was structured with a four-year term with interest-only payments for the first 12 months, the release states.

Lument closes $58.2M Freddie Mac refinance

Lument announced it closed on a $58.2 million Freddie Mac seniors housing loan to refinance The Village at Unity and The Hamlet, a 332-unit campus-style community.

Wegman Companies, a Rochester-based real estate development and investment company, is the borrower for the loan, a press release states.

The loan has a 10-year term, with interest for four years, a fixed interest rate and 30-year amortization, the release states.

Management

Charter expands with two Ventas communities

Charter Senior Living is expanding its management portfolio through a relationship with Ventas (NYSE: VTR).

The two communities are Fox Hollow Senior Living, a 74-unit assisted living and memory care community in Pinehurst, North Carolina and The Legacy of Anderson, a 101-unit independent living community in Anderson, South Carolina, according to a press release.

Following the management transition, Fox Hollow has rebranded to Charter Senior Living of Fox Hollow. Charter’s portfolio now includes 73 communities.

The post Senior Living Dealbook: Harbor Health Acquires Ripple; Charter Expands Ventas Relationship appeared first on Senior Housing News.