Management
Legend Senior Living grows portfolio to 60
Legend Senior Living recently announced the addition of Crescent Fields at Huntingdon Valley to its management portfolio, bringing the total number of communities under its management to 60. This marks a significant growth for Legend, as they have added 12 communities in the last 12 months. The transition for the new community took place on Aug. 20.
Thrive expands Texas footprint
Thrive Senior Living is set to open a new community, Encore at Heritage-Glen, in Tarrant County, Texas next year. The community will feature 50 assisted living suites and 25 suites in a memory care neighborhood, showcasing Thrive’s commitment to expanding its presence in Texas. The project is being completed in collaboration with Orison Holdings.
Transactions
Senior Living Investment Brokerage facilitated the sale of Truewood Taylorsville on Aug. 15. The assisted living community, built in 1975 and last renovated in 1996, was successfully sold by a REIT to a private owner. The buyer aims to grow their portfolio in Utah, while the seller focuses on core markets within its portfolio.
ESI sells five property portfolio
Evans Senior Investments recently announced the sale of a five-property portfolio in the southwest region of the country. The portfolio consists of skilled nursing beds and senior housing units, with the transaction facilitated on behalf of a regional owner-operator. The current operator and a new operator are merging their operations to maintain the portfolio.
Investment bank Ziegler played a key role in advising Confluent Senior Living on the sale of a 110-unit community in Beavercreek, Ohio. The community, offering assisted living and memory care services, was acquired by not-for-profit Community First Solutions on Aug. 1.
Blueprint was engaged to sell Gurnee Place Memory Care, a 42-unit memory care community in Gurnee, Illinois on Aug. 22. The community, which was at 90% occupancy during the marketing process, was successfully sold by Receiver to a private equity firm based in Minnesota.
