Senior Living Dealbook: Thrive Senior Living Acquires Three Communities; Agewell Living Rebrands

Transactions

Thrive Senior Living acquires three communities

Thrive Senior Living acquired three newly built Georgia communities to continue growing its portfolio.

The communities were developed by the Sawyer family between 2019 and 2022 and are “known for combining modern design with the warmth and hospitality characteristic of small-town Georgia,” according to a press release.

The acquisition was financed by SRP Federal Credit Union and brings Thrive’s Georgia community count up to eight, the release states.

Continuum Advisors closes on Florida sale

Continuum Advisors announced the sale of Tuscan Gardens of Palm Coast, a 130-unit community in Northeast Florida.

The community consists of “86 assisted living units and 22 memory care units, along with 22 enhanced assisted living units serving as a bridge between assisted living and memory care,” according to a press release.

AgeWell Solvere Living will be retained as the community’s manager.

Blueprint aids in Midwest portfolio transaction

Blueprint announced its involvement in the acquisition of an eight-community portfolio consisting of 153 units.

Blueprint was “engaged by a public company focused on seniors housing that relies on the firm’s ability to deliver execution certainty in complex transactions,” a press release states.

The ownership group selected an established owner-operator with an existing Wisconsin presence as the buyer, according to the release.

SLIB sells 136-unit assisted living community

Senior Living Investment Brokerage facilitated the sale of a 136-unit assisted living and memory care community in the North Shore of Long Island, New York.

The community is comprised of two buildings and had an 83% occupancy rate at the time of marketing, a press release states.

The seller is a local owner and operator, and the buyer is a private real estate investor with a growing presence throughout downstate New York, according to the release.

Financings

BWE secures financing for GEM Realty Capital

BWE announced it secured acquisition financing on behalf of GEM Realty Capital for The Claiborne at Brickyard Crossing.

The 142-unit community opened in 2022 and achieved stabilization within 12 months of opening and has “demonstrated strong and consistent operating performance since,” a press release states.

Taylor Mokris, senior vice president of seniors housing and care and Ryan Stoll, national director of seniors housing and care, served as advisors for the transaction, the release states.

Kendal affiliate awarded $1M grant

Barclay Friends, a Kendal affiliate, has been awarded a federal community project funding grant worth over $1 million.

The grant will support the community’s Goshen Memory Care Neighborhood, an expansion designed to serve older adults in the greater West Chester community living with memory impairment, according to a press release.

The funding is part of $12 million in community project grants secured by U.S. Representative Chrissy Houlahan for 14 initiatives across Chester and Berks counties, the release states.

Rebrandings

AgeWell Solvere Living rebrands

AgeWell Solvere Living announced it has rebranded itself to AgeWell Living.

Over the past several years, the company has “brought together multiple management

organizations, each contributing unique strengths and capabilities,” according to a press release. The decision to rename is meant to simplify and strengthen the parent brand to “ensure clarity for residents, families, partners and team members.”

“Returning to our original parent company name is both a strategic and symbolic step,” Chairman Larry Landry said in the release. “AgeWell has long represented trust, innovation and a deep commitment to supporting successful aging. The AgeWell Senior Living name ensures

consistency, reinforces our values and sets the stage for continued growth and impact.”

Partnerships

United Church Homes, Plymouth Place enter memorandum of understanding

Senior living nonprofits United Church Homes and Plymouth Place have entered into a memorandum of understanding to explore collaborative opportunities.

The agreement follows more than a year of discussion between the two organizations about ways to work more closely together, according to a press release. Potential collaboration areas include development of shared services and proprietary service models; management and consulting services for third-party providers; purchasing, procurement, billing, fundraising and board governance support; and public relations, crisis communication and online reputation management.

“This agreement reflects our shared desire to work collectively and collaboratively to create mutually beneficial opportunities while respecting one another’s missions and business objectives,” Kenneth Young, president and CEO of United Church Homes, said in the release. “We believe there is strength in partnership, particularly among mission-driven organizations committed to serving older adults with excellence.”

The post Senior Living Dealbook: Thrive Senior Living Acquires Three Communities; AgeWell Living Rebrands appeared first on Senior Housing News.