Aging Well: News & Insights for Seniors and Caregivers
- MorningStar Senior Living co-developed the 112-unit River Oaks community; operator to continue management under a long-term agreement.
- Senior Living Investment Brokerage facilitated sale of a 62-bed community in Hillsboro; buyer pursuing capital improvements and added licensed memory care beds.
- Northstar Senior Living and Alta Senior Living formed a partnership and will operate collectively under the Northstar Senior Living brand.
- Coastal States Bank closed a bridge loan enabling a joint venture to acquire a 97-unit assisted living and memory care community in Dallas.
Transactions
MorningStar recapitalizes River Oaks property
MorningStar Senior Living announced it has recapitalized its MorningStar Senior Living at River Oaks community to TPG Angelo Gordon U.S. Real Estate.
MorningStar co-developed the 112-unit community, which opened in 2021, according to a press release.
The operator will maintain management of the community through a long-term agreement, the release states.
Senior Living Investment Brokerage facilitated the sale of a 62-bed senior living community in Hillsboro, Oregon.
The property was sold by an institutional property owner looking to divest a non-core asset, a press release states.
It was purchased by a regional owner-operator looking to expand its portfolio in Oregon. Following the acquisition, the buyer is “executing a capital improvement plan and will increase the licensed memory care bed count.”
Partnerships
Northstar Senior Living, Alta Senior Living form partnership
Northstar Senior Living and Alta Senior Living have formed a partnership after working alongside Blueprint through a recapitalization process.
The Alta and Northstar merger will operate collectively going forward under the Northstar Senior Living brand, according to a press release.
This is Blueprint’s second major recapitalization project since 2023, the release states.
Financings
Joint venture secures acquisition financing
Coastal States Bank announced it closed a bridge loan for a joint venture between Winterpast Capital Partners, Vitality Senior Living Management and Virtus Real Estate Capital.
The loan was used to acquire a 97-unit assisted living and memory care community in Dallas, Texas, a press release states.
The community was acquired in December 2023 by a different joint venture between Vitality, Winterpast and another equity group, as a skilled nursing facility, the release states.
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