Senior Living Dealbook: Morningstar, Clarion Partners Expand Partnership; Rogerson Communities Awarded $3m For Redevelopment Project

Transactions

CPF Living, Grace Management acquire The Legacy of Venice

CPF Living Communities and Grace Management announced the acquisition of The Legacy of Venice.

Previously known as Heartis Senior Living, the community will be managed by Grace Management under CPF Living Communities’ ownership.

The acquisition “reflects Chicago Pacific Founders’ ongoing strategy to invest in high-quality communities with strong growth potential,” a press release states.

MorningStar, Clarion Partners expand partnership

MorningStar Senior Living announced it has expanded its partnership with Clarion Partners to acquire Golden Ridge, a community in Peoria, Arizona.

“We’re pleased to strengthen our partnership with Clarion Partners through this acquisition,” Jamie Ranzan, MorningStar president and chief investment officer, said in a press release. “The transition of Golden Ridge from one leading ownership group to another best-in-class partner ensures continuity in quality while enabling MorningStar to further enhance the resident experience.”

MorningStar opened the 144-unit community in 2019.

1019 Senior Living expands in Ohio

1019 Senior Living has acquired The Cottages of Clayton in Dayton, Ohio to further expand its presence in the state.

The community will continue to operate under its current name, according to a press release.

“We’re honored to welcome The Cottages of Clayton,” Heather Kesler, CEO of 1019 Senior Living, said in the release. “There’s something special already happening here. Our role is to support that, invest in it, and continue creating an environment where residents and team members feel seen, supported and valued.”

FellowshipLife expands with New Jersey life plan community

FellowshipLife has welcomed Harrogate Village into its network of senior living communities across New Jersey.

The community, previously known as Harrogate, “embraces a unique approach, centered on helping residents build the life they’ve always wanted,” according to a press release.

FellowshipLife now consists of six life plan communities across New Jersey.

Institutional Property Advisors brokers Phoenix community sale

Institutional Property Advisors announced it sold a 100-unit community to investment firm Clarion Partners.

The community offers a full continuum of care, including independent living, assisted living, and memory care residences, a press release states.

The Institutional Property Advisors team represented Civitas Capital Group in the transaction, according to the release.

Berkadia sells, finances Florida community

Berkadia announced the sale and financing of Heartis Venice in Venice, Florida.

The transaction was closed on behalf of a joint venture between Dallas-based Caddis Partners and a private equity real estate fund, a press release states.

Managing Directors Austin Sacco, Garrett Sacco and Steve Muth, along with Assistant Vice President Alec Rosenfeld of Berkadia Senior Housing & Healthcare secured a 10-year fixed rate loan through Freddie Mac for the buyer, CPF Living Communities, according to the release. 

Blueprint recapitalizes Triple Crown Senior Living community

Blueprint led the successful recapitalization of Forest Hills Commons, a 119-unit assisted living and memory care community.

An active public real estate investment trust was the winning bidder for the community for a RIDEA partnership, according to a press release.

The REIT elected to retain Triple Crown Senior Living as the operating partner to manage the community, the release states.

Blueprint advises on 68-unit community sale

Blueprint announced its involvement in the sale of a 68-unit assisted living and memory care community in Mesa, Arizona.

The ownership group selected a buyer with an established footprint in the market, according to a press release.

The buyer and seller “worked collaboratively, and Blueprint remained closely aligned with all parties to thoughtfully navigate diligence and maintain momentum toward closing,” the release states.

Financings

Rogerson Communities awarded $3M for redevelopment project

Rogerson Communities announced it received $3 million from the City of Boston for its redevelopment project in Jamaica Plain.

The project includes the creation of 41 new affordable independent living apartments in addition to 66 new memory care units to replace existing services on the campus, according to a press release. The six-story building will also include “space for the organization’s memory care social day program, a Fitness First center and more than 20,000 square feet of outdoor space, including four garden areas.”

The redevelopment is part of a larger effort from Rogerson Communities to increase its housing footprint in response to the “senior care crisis,” the release states.

Lightstone Capital originates bridge loan for Denver community

Lightstone Capital originated a $20 million first mortgage bridge loan to refinance Harvard Square by Cogir.

The transaction “underscores Lightstone Capital’s continued expansion into the senior housing sector, as the firm increases its focus on lending opportunities tied to demographic-driven asset classes in 2026,” according to a press release.

“Senior housing is a compelling area of focus for us as we search and identify value-add deals across our lending platform this year,” Perry Freitas, managing director at Lightstone Capital, said in the release.

Partnerships

Priority Life Care partners with Accushield

Priority Life Care announced it has selected Accushield for deployment across its entire portfolio.

“We operate with a unified culture across every one of our communities, and any technology we introduce needs to support that standard,” Ryan Person, chief strategy officer at Priority Life Care, said in a press release.

Priority Life Care is deploying the platform across all 60 of its communities.

KJB Sales Consulting, Senior Source Consulting Group announce alliance

KJB Sales Consulting and Senior Source Consulting Group announced the two businesses have formed a strategic co-marketing alliance.

The result is a “comprehensive, end-to-end resource for senior living organizations seeking to close performance gaps, elevate their sales teams, and gain a measurable competitive edge,” a press release states.

Both firms have worked with independent living, assisted living, memory care, continuing care retirement communities, real estate investment trusts and senior living adjacent businesses, the release states. Clients include Benchmark, Commonwealth Senior Living, Grace Management, Springpoint, Holbrook Life, Sonata Senior Living and American Healthcare REIT.

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