Acquisitions
Unlock Health acquires SPM Group
Unlock Health, a growth platform specializing in healthcare, technology, and services, has officially acquired SPM Group, a leading network of health and healthcare agencies.
SPM Group, which includes SPM, GLC, Dreamscape, and Centretek from Corridor Capital, LLC, is now part of Unlock Health. The financial details of the acquisition have not been disclosed at this time.
Following this acquisition, Unlock Health has become the largest health services growth marketing platform in the United States, with a client base of over 350 clients.
Lutheran Senior Services to acquire St. Louis Home Health
Nonprofit organizations Lutheran Senior Services and St. Louis Home Health have announced an agreement for LSS to acquire STL-HH.
The transaction is anticipated to be finalized at the end of December. Adam Marles, president and CEO of LSS, expressed his pride in welcoming St. Louis Home Health to the LSS family and assured continued quality care for their current orthopedic patients, regardless of their age.
Standard Communities expands portfolio through public-private partnership
Standard Communities, an affordable housing developer, led a public-private partnership to acquire Huntington Towers in Mount Prospect, Illinois and extend affordability at this 214-unit community for the next 30 years. The total capitalization of the transaction, including planned renovations, is approximately $74.9 million.
Transactions
Senior Living Investment Brokerage brokered the sale of Avonlea Assisted Living, a community in Tupelo, Mississippi consisting of 68 units that were built in 1999 and renovated in 2005. The seller, a publicly traded real estate investment trust, sold the community to a regional owner and operator based in Mississippi.
SLIB facilitates sale of two-property Georgia portfolio
Senior Living Investment Brokerage facilitated the sale of a two-property senior living portfolio in Jefferson and Norcross, Georgia, totaling 151 units of assisted living and memory care. The seller opted to divest the asset, while the buyer is a Southeast-based owner and operator looking to expand its footprint.
Walker Dunlop Investment Sales successfully completed the sale of Grand Living at Lakewood Ranch in Sarasota, Florida. This 172-unit community provides assisted living, memory care, and independent living options and was developed in 2019. The sale involved Ryan Companies US, Inc. as the seller and an Institutional Core Fund as the buyer.
Blueprint was engaged in the sale of an assisted living and memory care community with 80 units in Appleton, Wisconsin. The impacts of Covid caused the seller to re-prioritize its portfolio, resulting in the community being purchased by the incumbent operator Health Dimensions Group.
Additionally, Senior Living Investment Brokerage facilitated the sale of a 140-unit assisted living and memory care community in San Clemente, California, which was developed in 2002. The buyer, a private equity group based in Southern California, plans to make substantial investments in the community.
Eads Investment Brokerage represented a regional nonprofit in the sale of a skilled nursing and independent living campus in southern Illinois, which will help stabilize the nonprofit’s portfolio. The buyer is a regional operator with a strong presence in the immediate market.
Financings
JLL Capital Markets secured $35 million in financing for The Arbella at Bramble Hill, a to-be-built development in Worcester, Massachusetts. This 123-unit community, focusing on active adults, will consist of three elevator-serviced buildings and offer one- and two-bedroom apartments.
