Senior Living Dealbook: Healthcare Management Partners Sells Five Communities; Lument Closes $20.7m In Refinancing Loans 

Transactions

Healthcare Management Partners sells five Florida communities

Healthcare Management Partners, a healthcare restructuring and consulting firm, announced it completed the court-approved sale of five communities in Florida.

A press release states the communities were placed in receivership in August 2021, with HMP being named as the receiver. During the receivership, the communities reached a 35% growth in census.

Three buyers were selected for the communities, including Best Care Senior Living LLC, Partin Place Senior Living, LLC and PSH Acquisitions, LLC for a total of $22.9 million.

Blueprint advises on $46M sale

Blueprint was engaged in the $46 million sale of a high performing assisted living and memory care community in Bergen County, New Jersey.

The community was built in 1999 and consists of 120 units. A press release states the seller received more than 10 offers for the property.

The seller opted to go with a buyer group comprised of Juniper Communities and NHI REIT.

Blueprint advises on portfolio sale

Blueprint was engaged by a private equity firm to sell a four-community portfolio throughout the Atlanta metro area.

According to a press release, the communities have “excellent local market reputations” and were built in the late 1990s and early 2000s.

A Georgia owner and operator “eager to expand its seniors housing footprint” was selected as the buyer.

SLIB sells Class A Georgia community

Senior Living Investment Brokerage announced its involvement in the sale of Thrive on Skidway in Savannah, Georgia.

The community is “well-protected” in terms of long-term value and occupancy, a press release states, due to limitations of developable land.

The seller is a partnership between real estate investment and asset management company, Drake Real Estate Partners and Southeast developer, Equus Development Partners, the release said. The buyer is a global real estate firm.

Phorcys Capital Partners acquires Hunt Trace Senior Living

Phorcys Capital Partners announced it has acquired Hunt Trace Senior Living, a 114-unit assisted living community in Clermont, Florida.

Following the acquisition, Phorcys plans to invest $1.5 million in the community to update it, a press release states.

Phorcys has now invested over $125 million in the senior living sector and has additional acquisitions planned throughout the remainder of the year.

ESI sells Pennsylvania skilled nursing facility

Evans Senior Investments announced it represented Monroe County in Pennsylvania for the sale of Pleasant Valley Manor.

The skilled nursing facility consists of 174 beds and had an annual loss exceeding $7 million, according to a press release.

The release states a “respected regional owner-operator with a strong footprint in Pennsylvania” was selected as the buyer.

SLIB sells 60-unit community

Senior Living Investment Brokerage facilitated the sale of Shepherd’s Care Assisted Living and

Memory Care Community in Greenville, South Carolina.

The property sits on 5.7 acres and has had a variety of renovations completed from 1960 to 2014, according to a press release.

The seller, Bob Jones University, is exiting the senior living business. The university selected a local investor partnered with a Southeast operator as the buyer, the release said.

Financings

Lument closes $20.7M for senior living refinancing

Lument announced it recently closed two U.S. Department of Housing and Urban Development and Federal Housing Administration loans totaling $20.7 million.

The loans will be used to refinance Crescent Oaks Memory Care and Silver Oaks Memory Care in northern California.

Both loans featured “low, fixed interest rates, and 35-year terms and amortization schedules,” according to a press release.

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