Grandbridge Real Estate Capital arranged the $81 million sale of The Arlington at Naples, a 298-unit continuing care retirement community, to LCS. The campus is comprised 47 independent living homes, 128 independent living apartments, 42 assisted living units, 37 memory care units, and 44 skilled nursing units. The campus was opened in 2015 and is located on 39 acres in the Lely Resort master-planned community of Naples, Florida.
The Arlington was operating under a forbearance agreement prior to the sale closing, Grandbridge stated in a press release. At the time of closing, independent living occupancy was approximately 75%, while the health center – comprising assisted living, memory care, and skilled nursing facilities – was approximately 69% occupied.
“Arlington is one of the premier life plan communities in the country, and we are pleased to help facilitate a sale which provides financial stability to the community and its residents and staff. LCS was an ideal fit for The Arlington given their existing operational footprint in South Florida and ability to execute a transaction of this size and complexity,” Director Dave Kliewer said in a press release.
Transitions Healthcare acquires Pennsylvania nursing home
Maryland-based Transitions Healthcare, which operates independent living, skilled, personal, and continuing care retirement communities, acquired Kinkora Pythian Home located in Duncannon, Pennsylvania on January 1. The company renamed the home Transitions Healthcare Allens Cove.
“The community’s pursuit of excellence in care aligns with our mission, the quality of our post-acute services, and our mindset for innovation,” Transitions Healthcare CEO Matthew Maurano said in a press release. “With those objectives in mind, it made clear sense to welcome the Kinkora Pythian Home into the Transitions Healthcare family as we look to expand our footprint.”
The company doesnot anticipate making any drastic changes to the community as it stands. Transitions operates six other communities based throughout Pennsylvania and Maryland.
“It’s an opportunity to collaborate with a tremendously devoted team of caregivers,” Maurano said. “In our experience, when we combine our expertise with their dedication, we’re able to foster an environment of top-notch care.”
Strawberry Fields REIT acquires SNF in Kentucky
Strawberry Fields REIT announced on January 10 that it acquired the Landmark of Breathitt County Rehabilitation & Nursing Center, a skilled nursing facility located in Jackson, Kentucky.
The REIT is an owner and lessor of skilled nursing facilities, long-term acute care hospital facilities and assisted living facilities in the Midwestern and Southern U.S..
Formerly operating as the Nim Henson Geriatric Center, the community is a 120-bed facility that was built in 1971 and renovated in 2021, and is the only skilled nursing facility in Breathitt County. The community is situated close to the Kentucky River Medical Center, a small regional acute hospital.
According to the company, the facility was added to the Landmark master lease. A&M Healthcare Investments flags its subsidiary facilities primarily under the Landmark brand, and has been a Strawberry Fields tenant since 2017. The Landmark SNFs and LTACHs are in Kentucky, Texas, Oklahoma, Illinois, and Michigan.
“The acquisition of this property helps us expand our footprint and deliver on our goal to help provide access to quality skilled nursing services to the local residents in the markets we operate,” Moishe Gubin, CEO of Strawberry Fields, said in a press release.“We are also pleased to add this property to the existing Landmark portfolio as we have the utmost confidence in their ability to manage and improve performance.”
Blueprint executes sale of skilled nursing and long-term care facility
Blueprint executed the sale of Jackson Manor Nursing Home, a 90-bed skilled nursing and long-term care facility in southeast Missouri.
The facility was originally constructed in 1979 with all private rooms. Blueprint said that with limited local competition, Jackson Manor maintained consistent census and quality mix levels through local and regional referral sources around Cape Girardeau. It is the operator’s sole location in the state.
“Through its market-leading transaction experience in Missouri and deep knowledge of the state’s growing operators, Blueprint quickly identified a Missouri-based owner/operator as the prime acquirer with capabilities and motivation for executing on an accelerated timeline,” the company said in a press release.
Companies featured in this article:
Blueprint, Grandbridge, Strawberry Fields REIT, Transitions Healthcare
