Senior Living Dealbook: Focus Healthcare Partners Acquires Community; Stellar Senior Living Expands To Montana

Transactions

Focus Healthcare Partners acquires 329-unit community

Focus Healthcare Partners announced it has acquired The Harborside, a 329-unit senior living community located in Port Washington, New York.

The six-story community was purchased through a bankruptcy process, according to a LinkedIn post from Principal Curt Schaller, and will be operated as a rental community.

Following the $86 million transaction, Focus Healthcare Partners plans to renovate common areas and units to “transform the property into the premier senior living community on Long Island.” The community will be operated by Chelsea Senior Living.

Five communities transfer to Integral Senior Living

Five Californian communities have transitioned to Integral Senior Living as part of a strategic expansion and brand alignment.

The communities were formerly part of the Prestige Senior Living network, a press release states, and now now operate as Marbella Visalia, Marbella Chico, Marbella Marysville, Marbella Oroville and Bellamar Lancaster.

As part of the transition, all of the communities will be offering ISL’s “Vibrant Life,” “Elevate Dining” and “Generations Memory Care” programs, the release states.

Blueprint advises sale of two strong communities

Blueprint announced it was tapped to help sell two well-performing communities in the Portland metro area.

The communities were opened in 2016 and 2019, respectively, and offer a combined 284 units of independent living, assisted living and memory care.

The seller was a combination of a regional developer and local investors, who selected a buyer group “comprised of a blue chip national private equity investor and highly esteemed west-coast based owner-operator,” according to a press release.

Financings

Berkadia secures construction financing

Berkadia announced it secured construction financing through Texas Capital Bank on behalf of a joint venture sponsored by Sparrow Capital Partners.

The financing is being used for Mera Lawrenceville, a 200-unit active adult community in Lawrenceville, Georgia, according to a press release.

The community will be located 30 miles northeast of downtown Atlanta upon completion, the release states.

Management

Stellar Senior Living expands to Montana

Stellar Senior Living announced it has expanded into Montana with the addition of two communities to its management portfolio.

The communities include Helena Point in Helena and Missoula Valley in Missoula, and fit into the company’s goal to “enrich 10,000 lives” by 2030, a press release states.

With the additional communities, Stellar’s management portfolio now consists of 37 communities.

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