Deal Lab

This is the Florida community inside the $158 million, three-community LTC Properties purchase already on this tape (October 1, 2026). The SeniorCare Investor has now identified it: Keystone Place at Terra Bella in Land O'Lakes, a Class-A community built in 2018 with 62 independent living, 56 assisted living and 22 memory care units. LTC paid $69 million and brought in Charter Senior Living as manager; the community will be rebranded Charter Senior Living at Terra Bella. On our arithmetic that is about $492,857 per unit. The addition brings LTC's SHOP platform, set up less than two years ago, to 46 communities. The sellers were described only as investment firms. Occupancy and cap rate for this asset were not disclosed; LTC's roughly 6.5% year-one cap rate applies to the three-community total, not to this building.

A single-community owner/operator sold its only seniors housing asset and left the industry. The building was built in 1989 as a skilled nursing facility and converted to assisted living through a significant renovation in 2014. The seller's hospice business closed in 2025, which lowered census at the community; the report describes that as the buyer's path to upside through operational changes. After the first marketing round, the seller chose a joint venture with a San Antonio-based partner; the other partner was not named in the public excerpt. Price, unit count and occupancy were not disclosed. Directory listings show a licensed capacity of about 64 residents, but that is a resident capacity, not a unit count, so the units field is left blank.

PENDING — this is a construction loan on a community that is not built yet, recorded as a capital-stack data point, not a sale. Live Oak Bank led a $63.2 million construction loan, with Old Second National Bank, for a 214-unit independent living, assisted living and memory care community in Aurora. The developer is a joint venture of Chicago-based Integrated Development II, HPI Real Estate and Affinius Capital, with Solera Senior Living as operator. It is the final phase of the Fox Valley Mall redevelopment and is expected to deliver in late 2028. The price field is null because this is a loan. $63.2 million over 214 units is about $295,327 of debt per unit on our arithmetic; that is a lender's advance against a development budget, not a value. No street address, unit mix, total development cost or loan terms were reported, and none are estimated here.

The SeniorCare Investor reported the sale set a new record per-bed price for a skilled nursing facility in Indiana, but the price and per-bed figure were not in the publicly available report, so both are left blank. The seller was a private owner selling its last facility to retire from the business; SLIB had sold the asset to that owner in 2005. The 126-bed facility sits on 2.2 acres, was built in phases in 1967, 1972 and 1982 (36,449 square feet), offers a transitional care unit, rehabilitation, skilled nursing and long-term care, and was 89% occupied. Address and bed count are from the CMS Nursing Home Provider Information dataset (CCN 155041), which lists Adams County Memorial Hospital as the licensed provider and a reported total nurse staffing level of 3.96 hours per resident per day (September 2026 refresh).

Two rural Iowa facilities sold for $5.23 million, reported as $55,600 per bed/unit. The Keota facility has more than 30 skilled nursing beds (built 1964, renovated 2019). The Sigourney facility has about 40 skilled nursing beds (built 1977) and nearly 20 assisted living (ALP) units in a wing added in 2002. Bed and unit counts were reported only approximately, so the unit count is left blank. The facility names were not reported, so no address is shown.

PENDING — The SeniorCare Investor reported on October 9, 2026 that Bridgewood is exiting this community and The Village of Meyerland in a deal handled by CBRE; a closing, the buyer and the price were not in the publicly available report. 103 assisted living and memory care units on 1.75 acres, built 2015; the two communities were reported 96% occupied, managed by Bridgewood's operating platform The Aspenwood Company. Bridgewood and Harrison Street first sold both to PGIM Real Estate in December 2018, and Bridgewood reacquired them from a national life insurance company in December 2024 (Houston Chronicle, December 14, 2024). Address from the Houston Chronicle and the community's listing.

PENDING — reported alongside The Village of The Heights; a closing, the buyer and the price were not in the publicly available report. 125 assisted living and memory care units on 3.11 acres, built 2013; the two communities were reported 96% occupied. This would be the third ownership change since 2018: Bridgewood and Harrison Street sold to PGIM Real Estate in December 2018, and Bridgewood bought the communities back in December 2024 (Houston Chronicle, December 14, 2024). Address from the Houston Chronicle and the community's listing.

This is a refinancing, not a sale. The price field is null, and the loan amount should not be read as a valuation. BWE provided a $28.3 million Fannie Mae permanent loan for Grove City Senior Living, a 124-unit independent living, assisted living and memory care community in Grove City in the Columbus metro, on behalf of an Ohio-based developer that was not named. The loan takes out construction debt and returns equity to investors ahead of a long-term hold. Terms as reported: 10-year term, three years interest-only, 30-year amortization and a 100 percent loan-to-cost ratio. The community opened in May 2023 (the year built shown is the opening year). BWE said it refinanced once the property reached full occupancy, but no occupancy percentage was published, so the occupancy field is left blank. Worth noting from the same report: the originator described Fannie Mae's seniors housing book as shrinking. A 100 percent loan-to-cost take-out on a property under three years old says agency capital is still available for stabilized, newer product even while the agency pulls back overall.

These are the two IntegraCare communities inside LTC Properties' $158 million, three-community purchase already on this tape (October 1, 2026). Cushman & Wakefield has now named them and the sellers. Both are assisted living and memory care communities: Queenstown Landing at 120 Shoreway Dr, Queenstown, MD 21658 (built 2021), and The Residence at Colvin Run at 1131 Walker Rd, Great Falls, VA 22066 (built 2022). The year-built field shows the older of the two. The $89 million is a combined price. Unit counts by community were not reported, so no per-unit figure is computed. The broker cited the portfolio's occupancy as a selling point but did not give the number. Addresses are from IntegraCare's own Queenstown Landing page and the Reston Chamber listing for The Residence at Colvin Run, not from the deal report.

Legend Senior Living acquired Ashton Commons Senior Living, a north-of-Pittsburgh campus offering independent living cottages, personal care and memory care. Legend says it is its 22nd Pennsylvania community and brings it to 80 residences across eight states. Price, seller, financing and occupancy were not disclosed, so there is no per-unit figure. A secondary report put the campus at 90 assisted living, 16 memory care and 26 independent living units, but Legend's own release does not state a unit count, so units are left as not disclosed. Address is from Legend's release.

SlateView Capital closed on Parkview Estates, a 151-unit assisted living and memory care community in Fountain Valley, Orange County, completed in 2021. It is SlateView's second acquisition, after Meadowbrook at Agoura Hills, and takes its Southern California portfolio to 307 units. Price, seller, occupancy and financing were not disclosed, so there is no per-unit figure and none should be inferred. The trade report gave no street address and the operator did not publish one we could confirm, so the address is left as not disclosed.

Not closed. Senior Housing News reports BDT & MSD Partners "is acquiring" the deal, so we list it as pending. BDT & MSD Partners is buying a majority stake in Sunrise Senior Living from PSP Investments. Sunrise's senior leadership team will own the rest. Sunrise operates more than 230 communities in the U.S. and Canada and serves about 22,000 residents. CEO Jack Callison Jr. says it has a development pipeline of more than 50 communities with an expected total cost of $7.5 billion. Senior Housing News describes this as "reportedly" a billion-dollar deal, but the parties did not confirm a price, so the price field is null. This is a sale of the operating company, not a real estate trade. Sunrise manages many of its communities for third-party owners, so no unit count or per-unit value applies.

This is a refinancing, not a sale. The price field is null, and the loan amount should not be read as a valuation. JLL arranged a $140 million national-bank loan for Vivante Newport Center, a six-story luxury community with 99 independent living, assisted living and memory care units. It is one of two loans totaling $276 million in a refinancing of Nexus Development's two-property Vivante portfolio in the Newport Beach area. The other loan, for Vivante Newport Mesa, is listed separately. The borrower is an affiliate of owner-operator Nexus Development. The loan works out to about $1.41 million per unit (our arithmetic on the reported figures), which shows the debt capacity a top-tier Orange County asset can support. Rate, term and occupancy were not disclosed. The address is from Vivante's own website.

This is a refinancing, not a sale. The price field is null, and the loan amount should not be read as a valuation. JLL arranged $136 million of agency financing for Vivante Newport Mesa, a 296-unit independent living, assisted living and memory care community. It has two buildings on a 6.8-acre site and was built in phases between 2013 and 2020, so no single year built is given. This loan and the $140 million loan on Vivante Newport Center (listed separately) make up a $276 million refinancing of Nexus Development's 395-unit Newport Beach-area portfolio. The borrower is an affiliate of Nexus Development. By our arithmetic the loan is about $459,000 per unit, about a third of the per-unit debt on the newer Newport Center building. Rate, term and occupancy were not disclosed. The address is from Vivante's own website.

PENDING — the California Attorney General conditionally approved the sale on October 2, 2026; a closing of the asset sale had not been reported. Ensign affiliates have operated the 52-bed nonprofit skilled nursing facility since June 1, 2025 under California Department of Public Health approval, and St. Elizabeth is the only California facility in Ensign's broader acquisition of Providence facilities in Alaska, Oregon and Washington. The approval carries conditions lasting seven to 10 years: continued Medicare and Medi-Cal participation with at least 30% of skilled nursing beds reserved for Medi-Cal beneficiaries, sufficient direct-care staffing, a full-time licensed administrator, limits on rent increases, affiliate payments and debt (Attorney General approval required for rent increases above 2.5%), and an Attorney General-appointed monitor. No price was disclosed. Address and bed count are from the CMS Nursing Home Provider Information dataset.

Cardinal Senior Living announced it has completed the purchase of three established communities in Northeast Ohio, taking its Ohio portfolio to six and its total to more than 20 communities across Michigan, Ohio and Pennsylvania. Per Seniors Housing Business: GreenView Senior Assisted Living in Green (99 units, assisted living and memory care), Brier Creek in Green (134 units, independent living) and The Preserve in Mentor (48 units: 23 memory care, 25 assisted living). The unit total of 281 is our sum of those three reported figures. Address field is left blank because this is a three-building portfolio; public community listings place GreenView at 4000 Massillon Rd and Brier Creek at 4020 Brier Creek Pkwy, both Green/Uniontown, OH 44685. We could not confirm from the announcement which Mentor building is 'The Preserve', so no Mentor address is given. Price, seller, broker, lender, vintages and occupancy were not disclosed and none are estimated here.

Senior Living Investment Brokerage handled the sale of a 110-unit IL/AL/MC community in Rio Rancho, a suburb on Albuquerque's northwest edge. The seller was a Hong Kong-based conglomerate and the buyer an Albuquerque-based operator of New Mexico senior living communities — an offshore owner exiting to a local operator. The community was not named in the release, so no address is given; we did not try to infer which Rio Rancho building it is. Price, vintage and occupancy were not disclosed. Date is the report date.

PENDING — not closed. ArchCare plans to sell Ferncliff Nursing Home to an undisclosed buyer, a process it says could take up to two years because of New York regulatory approvals. ArchCare said the facility "has struggled to achieve the operating efficiencies needed for the facility's long-term financial stability" and has already reduced the beds it operates from a licensed 309 to 196; the unit field uses the 196 operating beds. Address is from the CMS Nursing Home Provider Information dataset (CCN 335405, which lists 309 certified beds). Price and buyer were not disclosed.

This is a lease, not a sale, and no price applies. Diversified Healthcare Trust moved seven Colorado skilled nursing facilities (807 licensed units) out of a RIDEA operating structure and into a new 15-year triple-net lease with Ensign's operating subsidiaries, effective October 1, 2026. First-year rent is $8.0 million, which DHC called substantially greater than the prior year's rent, with annual escalators tied to CPI; Ensign guarantees the lease. On our arithmetic the rent is about $9,913 per licensed unit per year. This is the landlord side of Ensign's same-day Colorado operations acquisition (760 skilled nursing beds plus 47 independent living units, listed separately on this wire), so the two entries describe the same buildings and should not be added together.

UPDATED October 10, 2026: The SeniorCare Investor (October 9, 2026) reported that Evans Senior Investments represented the seller, a large owner/operator exiting Florida. The deal closed within four months at a 5.3% cap rate on in-place cash flow, with the facility at 80% occupancy and about $10 million in revenue; the price was still not disclosed. The one deal in Ensign's October 1, 2026 batch where real estate changed hands: Ensign acquired both the operations and the real estate of Englewood Heights, a 118-bed skilled nursing facility in Pensacola, with the property taken by a subsidiary of Standard Bearer Healthcare REIT and the building leased to an Ensign-affiliated operator. It is part of Ensign's entry into Florida announced the same day alongside eight leased Florida operations. Price was not disclosed. The facility name in the release does not appear in the federal CMS nursing home dataset under that name (it may be listed under a prior name), so no street address is given; we did not infer one from bed counts. Vintage and payer mix were not disclosed and neither is estimated here.

Ensign acquired the operations of four Seattle-area skilled nursing facilities effective October 1, 2026: Burien Nursing and Rehabilitation (140 beds, Burien), Issaquah Nursing and Rehabilitation (140 beds, Issaquah), Park Ridge Nursing and Rehabilitation (115 beds, Shoreline) and Park West Nursing and Rehabilitation (137 beds, Seattle). The 532-bed total is our sum of those four reported figures. Address is left blank because this is a portfolio. The federal CMS nursing home dataset still lists three matching-capacity facilities under Avamere names: Avamere Rehabilitation of Burien, 1031 SW 130th St, Burien WA 98146 (140 beds); Avamere Rehabilitation of Issaquah, 805 Front St, Issaquah WA 98027 (140 beds); and Avamere Rehabilitation at Park West, 1703 California Ave SW, Seattle WA 98116 (137 beds). That is consistent with Avamere's previously reported exit from skilled nursing, but the release does not name the prior operator, so treat the match as our reading of public records, not a disclosed fact. We could not locate Park Ridge (Shoreline) in the dataset. Price was not disclosed: these are acquisitions of the OPERATIONS under long-term triple-net leases, so no real estate changed hands and there is no per-bed value to compute. Landlord identity, rent terms, occupancy and payer mix were not disclosed and none are estimated here.

Ensign entered Florida effective October 1, 2026 by acquiring the operations of eight facilities: Bay Park (101 beds, Sarasota), Carrabelle (90, Carrabelle), Cedar Hill (120, Jacksonville), Davenport (a campus with 60 skilled nursing beds and 66 independent living units, Davenport), Greenville (58, Greenville), Lake Haven (104, Dunedin), Monticello (60, Monticello) and Shores (120, Port St. Joe). The release totals them at 713 skilled nursing beds plus 66 independent living units; the units field carries the 713 skilled beds only. Several are rural Panhandle facilities (Carrabelle, Greenville, Monticello, Port St. Joe), which is a different market from the Sarasota and Pinellas sites. Address is blank because this is a portfolio; facility names in the release are new Ensign brand names that do not yet appear in the CMS dataset, so we did not match them to prior listings. Price was not disclosed: these are acquisitions of the OPERATIONS under long-term triple-net leases, so no real estate changed hands and there is no per-bed value to compute. Landlord identity, rent terms, occupancy and payer mix were not disclosed and none are estimated here.

Ensign acquired the operations of seven Colorado facilities effective October 1, 2026: Delta Post Acute (80 beds, Delta), La Villa Grande Care Center (96, Grand Junction), Milestone Health and Rehabilitation (190, Littleton), Monument Ridge (88, Grand Junction), Pendant Health and Rehabilitation (130, Lakewood), Skyline Ridge (85 skilled nursing beds plus 47 independent living units, Canon City) and Springs Village Care Center (91, Colorado Springs). The 760 skilled beds and 47 independent living units are as reported. Ensign said the deal expands its existing Colorado footprint onto the Western Slope. Address is blank because this is a portfolio. Price was not disclosed: these are acquisitions of the OPERATIONS under long-term triple-net leases, so no real estate changed hands and there is no per-bed value to compute. Landlord identity, rent terms, occupancy and payer mix were not disclosed and none are estimated here.

Foundry Commercial, with AEW as capital partner, announced on October 1, 2026 that it acquired Allegro Hyde Park, a 136-unit independent living and assisted living community in Tampa's Hyde Park neighborhood, alongside Allegro Harrington Park in New Jersey (recorded separately). Allegro Living, which is Foundry's wholly owned senior living management platform, operated the community before the sale and will continue to operate it. Allegro's community page says every apartment is dually licensed for independent and assisted living. Address is from Allegro's own community listing. Price, seller, broker, vintage and occupancy were not disclosed in the release and none are estimated here. Date is the announcement date.

LTC Properties announced on October 1, 2026 that it added three senior housing operating portfolio (SHOP) communities through two acquisitions totaling nearly $160 million: one Florida community for $69 million, to be operated by Charter Senior Living, and two communities in Virginia and Maryland for $89 million, operated by IntegraCare, an operator new to LTC. The price field is the sum of those two reported figures ($158 million). Together the three add 270 independent living, assisted living and memory care units with an average age of six years, in NIC-designated primary markets. LTC expects an average year-one cap rate of about 6.5% and an unlevered IRR in the low- to mid-teens; the cap rate is a forward estimate, not a trailing yield. On our arithmetic the blended price is about $585,185 per unit across three communities, so it is not a comp for any single building, and the Florida asset alone cannot be priced per unit because unit counts by community were not given. The purchases were funded with proceeds from the sale of two non-SHOP portfolios (three triple-net skilled nursing centers and 17 triple-net seniors housing communities) for over $260 million of gross proceeds against $12 million of annualized rent; those buyers were not named. Community names, cities, sellers, vintages by community and occupancy were not disclosed and none are estimated here.

National Health Investors said on October 1, 2026 that it acquired six senior housing properties totaling 443 units across Kentucky, Michigan and Tennessee for $107.7 million, including transaction costs, and expects to invest another $2.3 million in the first year. The communities go into NHI's SHOP segment, managed by Allegro Living Management, an affiliate of an existing NHI partner. NHI expects an initial NOI yield of about 7.0%, or 6.6% after routine capital expenditures. On our arithmetic the price is about $243,115 per unit; because the $107.7 million includes transaction costs, the pure purchase price per unit is somewhat lower. Care levels were described only as senior housing, so the care type is set to Mixed / Campus. NHI also reported about $164.3 million of opportunities under signed letters of intent and $51.7 million under purchase options, much of it expected to be funded with 1031 exchange proceeds from its NHC portfolio sale. Community names, cities, seller, vintages and occupancy were not disclosed and none are estimated here.

CLOSED October 1, 2026 (updated from pending): operations moved on that date from affiliates of Airamid Health Services to PACS subsidiaries, and the Florida properties join Omega's master lease with PACS. The transition carries a $90 million one-time expense for Omega (per a citybiz report cited by Skilled Nursing News); portfolio rent steps up $26.1 million in year one and another $2.5 million in year two, then 2% a year (Skilled Nursing News, October 5, 2026). Read the structure carefully before comparing it to anything else on this wire: PACS acquired the OPERATIONS at 32 Florida skilled nursing facilities and leasing the real estate from Omega subsidiaries. No property changes hands and no purchase price was disclosed, so there is no per-bed figure to compute and none should be inferred. At 4,049 licensed beds this is a large single-state operational entry, and it is PACS entering Florida for the first time against 71 existing operations in Texas, South Carolina, Tennessee and Kentucky. Individual facility names and addresses were not reported. For anyone underwriting Florida skilled nursing, the relevant signal is not a cap rate — it is that a large multi-state operator just took on 4,049 beds of leased capacity in the state, which changes the competitive and labor picture well before it changes any comp set.

Kauhale Health completed the acquisition of the former Pines at Bluffton, a vacant and delicensed 61-unit assisted living and memory care community that opened in 2000, on more than three acres within two miles of Old Town Bluffton. It plans to invest more than $5 million to relicense and reposition it as Kauhale Bluffton, a dedicated memory care community for up to 50 residents, with renovation over the next year. It is Kauhale's fifth acquisition in four years. Price and seller were not disclosed. The release gives no street address; the only address we found was in a senior-living directory listing, which we do not treat as confirmation, so the address is left as not disclosed. Care type reflects the planned memory care use; the building is currently vacant.

PENDING — expected to close December 1, 2026. Cascadia Healthcare plans to acquire 11 facilities from Sapphire Health Services, a Salem-based post-acute rehabilitation operator that manages more than 20 facilities across Oregon. Cascadia CFO and principal Steve LaForte disclosed the deal to Skilled Nursing News on September 30, 2026 at the RETHINK 2026 conference in Philadelphia. The 11 facilities were previously part of Avamere Living's portfolio. The report did not say whether Cascadia is buying real estate or operations only, and it gave no price, bed count, facility names or locations, so those fields are left null. Context from the same report: Cascadia's July 2026 agreement to take over 22 Avamere facilities leased from Sabra Health Care REIT was set to close October 1, and Cascadia separately agreed to acquire Ohana Ventures' 14-facility portfolio (listed as its own entry). LaForte said the deals would make Cascadia the largest operator in Oregon; it currently operates more than 61 long-term care facilities across Washington, Oregon, Montana, Idaho and Arizona.

PENDING — expected to close November 1, 2026. Cascadia Healthcare will acquire the 14-facility portfolio of Ohana Ventures, an Oregon-based post-acute care company formerly affiliated with Avamere Living. Per Cascadia CFO Steve LaForte, the portfolio is split evenly between special-needs facilities (a behavioral health long-term care designation used in Idaho and Oregon) and assisted living, independent living and memory care facilities. The report did not give facility names, locations, unit or bed counts, a price, or whether real estate is included; state is set to Multi-State because the facility locations were not specified. Announced alongside Cascadia's 11-facility Sapphire Health Services acquisition (separate entry).

A financing, recorded here as a capital-stack data point, not a sale price. MonticelloAM and affiliates provided $195.7 million of financing for a skilled nursing portfolio in Virginia and Indiana: $184.7 million of bridge and mezzanine loans used to refinance three Virginia skilled nursing facilities and acquire four Indiana skilled nursing properties, plus an $11 million working capital line of credit. The portfolio totals more than 900 beds; because only a floor ("more than 900") was reported, the bed count is left null and no per-bed figure is computed. The borrower, the Indiana sellers, the acquisition price, facility names and locations were not disclosed and none are estimated here.

Marcus & Millichap brokered the $7.3 million sale of Drews Place, a three-campus, 100-bed seniors housing portfolio in Hillsdale and Coldwater in southern Michigan. Jim Knapp of Marcus & Millichap represented the undisclosed seller; the buyer was not named, though Knapp described it as a new owner looking to grow its seniors housing presence. On our arithmetic the price works out to $73,000 per bed, a blended figure across three campuses in rural and small-town markets. The report did not name the three campuses, so no street address is given. Care level is listed as assisted living based on the operator's branding; the report described the portfolio only as seniors housing. Close date, vintage, occupancy and cap rate were not disclosed.

A 96-unit independent living, assisted living and memory care community on a 21-acre campus, built in stages in 1983, 1990 and 2004 (year built shows the first phase). Erskine College, which sits across the street, bought it for $4 million; on our arithmetic that is about $41,667 per unit. This is not a going-concern senior housing comp: the owner/operator began vacating the community once the college's offer was accepted, and the college plans to use the campus for student, faculty and staff housing. It is a floor-value data point for an older rural campus whose highest-value use left senior living. Public community listings place it on Frank Pressly Drive in Due West; the address field is left blank because no transaction source states the street address. Occupancy at sale was not disclosed.

A financing, recorded here as a capital-stack data point, not a sale price. Dwight Investment Management, a Dwight Capital affiliate, closed a $60 million bridge acquisition loan for Epic Rehab and Nursing at White Plains, a 160-bed skilled nursing facility, together with a $5 million revolving line of credit for operating liquidity and capital needs. Dwight says the five-story building, completed in 2019, was the first ground-up SNF built in New York State in the past decade. Epic Healthcare Management operates the facility. The release calls it an acquisition loan but does not name the acquiring entity, the seller or the purchase price, so buyer, seller and price are left null. $60 million over 160 beds is $375,000 of debt per bed on our arithmetic; that is a lender's advance, not a value. The street address and bed count are from the CMS Nursing Home Provider Information dataset (CCN 335878, legal business name HBL SNF, LLC), which lists 160 certified beds, matching the release. Date is the first trade-press report (The SeniorCare Investor, September 29, 2026); the release itself is undated.

This is a refinancing, not a sale. The price field is null, and the loan amount should not be read as a valuation. Northmarq arranged a $51.14 million, 35-year fixed-rate HUD loan for Kalakaua Gardens on behalf of HPL Development, working alongside VIUM Capital. The financing included a rate buydown, which Northmarq said supported a larger loan amount. Kalakaua Gardens is a 17-story, 167-unit community in Waikiki, built in 2016, that offers independent living, assisted living, memory care and rehabilitation services. On our arithmetic the loan is about $306,000 per unit; that is a debt figure, not a value. Occupancy and the interest rate were not disclosed. A rate buydown to size up HUD proceeds is the detail to watch: it is a way for owners of stabilized, newer high-rise assets to pull more cash out without waiting for rates to fall.

PENDING — nothing here has closed. In a September 28, 2026 business update, National Healthcare Properties said it has signed purchase and sale agreements or non-binding letters of intent for approximately $244 million of senior housing operating portfolio (SHOP) acquisitions, comprising 724 primarily assisted living and memory care units. The company did not say how much of that total is under binding contract and how much is only at LOI, so some of it may never close. It gave estimated weighted average cap rates of about 7.2% in year one and 8.4% in year three. Those are forward numbers: NHP's release defines them as underwritten cash NOI the company aims to achieve, some of it based on preliminary seller information, divided by the purchase price. They are not trailing yields. On our arithmetic the pipeline prices at about $337,017 per unit. That is a blended figure across communities that were not named, so it is not a comp for any one building. For context, the SHOP acquisitions NHP announced on July 7, 2026 were forecast at 7.8% in year one and 9.7% in year three. The same September 28 release announced a definitive agreement to sell 40 outpatient medical facilities for approximately $531 million at a 6.9% nominal and 6.5% economic cap rate, with proceeds going partly to fund these SHOP purchases. Community names, locations, sellers, operators, vintages and occupancy were not disclosed and none are estimated here.

Reported by The SeniorCare Investor as a completed sale; the closing date itself was not published, so the date shown is the report date. Hilton East is an assisted living community with a New York Assisted Living Program (ALP) licence, in Hilton outside Rochester: 205 total beds in 144 units, with up to 119 beds designated for ALP residents. ALP is New York's Medicaid assisted living benefit, and its beds are paid on a state formula rather than at market rent. The operating figures are the reason this trade matters. Occupancy was 81% at the time of marketing, and the community was losing more than $1.3 million of EBITDAR on $5.56 million of revenue. The seller took multiple offers and selected a private real estate development company at $10.25 million. That is $71,181 per unit on our arithmetic (the trade report rounds it to $71,200) and roughly $50,000 per licensed bed, and it is about 1.84 times revenue. The occupancy figure is as of marketing, not closing. Because the building was losing money at the EBITDAR line there is no cap rate, and this price should not be read as a comp for a stabilised private-pay assisted living asset: it prices a 1974 building, the land and a buyer's repositioning plan. The buyer's and seller's names, the buyer's intended use and the post-closing operator were not disclosed. The street address comes from the community's own website and matches the New York State Department of Health adult care facility licence record.

This is a refinancing, not a sale. The price field is null, and no valuation should be read from the loan amount. Cambridge Realty Capital closed a $4.97 million fully amortising HUD-insured loan to refinance Avalon Memory Care Irving, a standalone memory care community. It is the second building reported out of the same $29.7 million Cambridge package: a Texas limited liability company is replacing mortgage debt on eight facilities across the Dallas-Fort Worth metro. The first was the $3.73 million HUD refinancing of Avalon Memory Care Fort Worth, which is already on this wire. Both loans went to the same unnamed borrower, the same brand and the same metro, days apart. That confirms what the Fort Worth loan suggested: an owner is moving a DFW memory care portfolio off blanket financing and onto long-dated, assumable HUD debt one building at a time. The two reported loans add up to $8.7 million, which leaves about $21 million of the package not yet attributed to named buildings. Directory sites list a licensed capacity for this community, but the transaction reporting published no unit or bed count, so the units field is deliberately null. The street address is Avalon Memory Care's own published Irving location. The borrower entity, interest rate, loan term, occupancy and valuation were not disclosed.

Not closed — this is a court-supervised sale awaiting approval, which is why it carries pending status and why no one should read it as a comp yet. Inspired Healthcare Capital, a Scottsdale-based private equity sponsor, filed Chapter 11 on February 2, 2026 in the Northern District of Texas. The auction was scheduled for August 25 but actually ran from August 20 through September 8, and on September 22 the debtors asked the court to approve the sale of roughly 30 seniors housing and skilled nursing communities to 10 separate buyers for a combined $717,035,853, with a further hearing session possible on September 29. The headline number divides to roughly $23.9 million per community, and that figure is worth naming only so it can be dismissed: the pool blends seniors housing with skilled nursing across multiple states, no unit or bed count was published for the portfolio, and a bankruptcy auction price is a function of the process as much as the assets. It is an arithmetic average, not a valuation metric, and we are not carrying it into the pricePerUnit field. The part that matters structurally is the objection record. Two lenders, HPI Fairmount Lender LP and HPI Delray Lender LP, objected on September 10 that the auction was run as a series of separate staggered auctions that chilled bidding, and that the debtors failed to evaluate a whole-company bid alternative. On September 14 the DST Investors Committee objected to specific terms in the asset purchase agreements — expanded material adverse effect provisions and the elimination of specific-performance remedies — while stating expressly that it does not seek to second-guess the auction results. The Official Committee of Unsecured Creditors objected the same day over purchase-price allocation procedures, escrow arrangements, and equity payment arrangements by Welltower and National Healthcare Properties. Read together, those objections describe the risk that Delaware statutory trust investors carry in a sponsor bankruptcy: the trusts hold title to the real estate, separate operating companies run the business, and the sale contracts may not say how proceeds divide between them. Individual community names, locations, unit counts, per-asset allocations and the identity of which buyer took which assets were not published in the reporting reviewed, and none are estimated here.

Berkadia Seniors Housing closed the sale of New Perspective Arden Hills, a Class-A full-acuity community in an affluent northeastern suburb of Minneapolis. The unit mix was reported with useful precision: 114 independent living and assisted living units plus 45 memory care units, including nine enhanced-care units, in a four-story building completed in 2023. That totals 159 units, which is the figure carried here. No price was published, so the price and pricePerUnit fields are null and no valuation should be inferred from the size or the vintage. The buyer and seller were not disclosed in the reporting reviewed. The street address is taken from the operator’s own published community listing rather than from the transaction report. Two things make this worth filing even without a price. The first is the acuity mix: 45 of 159 units, roughly 28%, are memory care, and nine of those are described as enhanced care — a higher-acuity tier that carries more staffing cost and more regulatory exposure than standard memory care, and that is priced differently by any buyer underwriting it properly. The second is the vintage. A 2023 delivery trading in 2026 is a three-year-old asset, which places it in the narrow band of genuinely new Class-A product changing hands in a market where almost nothing has been built since the rate shock. Third-party senior living directories publish an occupancy figure for this community, but directory occupancy is not transaction reporting and it is deliberately not carried into this record; the occupancy field is null. Price, buyer, seller, cap rate and occupancy at closing were not disclosed.

PENDING — this is an offering, not a closed sale, and the $32 million is the size of the offering, not a purchase price. On September 23, 2026 Bonaventure, a Virginia-based real estate investment firm that reports more than $2.9 billion of assets under management, launched the Aspire West End DST: a $32 million Delaware statutory trust selling fractional interests in Aspire West End, a 148-unit independent living community in Richmond's West End (Henrico County). The interests are structured as Section 1031 replacement property for accredited investors, with a $100,000 minimum. Bonaventure developed the community in 2018 and has owned and operated it since, so the sponsor is on both sides of this transaction: it is the party selling the asset into the trust and the operator the investors are relying on. The unit mix is 112 one-bedroom and 36 two-bedroom residences averaging 892 square feet. Bonaventure said the community is stabilized and was 91.9% occupied as of September 9, 2026. It is the sponsor's fourth DST in 16 months; the three prior offerings, in Alexandria, Manassas and Norfolk, Virginia, were each described as fully subscribed. The $32 million over 148 units works out to about $216,216 per unit on our arithmetic, but that is equity raised per unit, not a value: the release did not say what price the trust pays for the property, whether there is mortgage debt beneath the offering, or how much of the raise goes to reserves, loads and sponsor fees. For that reason the price and per-unit fields are left null. The street address was not published in the release or on the community page reviewed, and no cap rate, NOI, rent level or loan terms were disclosed; none are estimated here.

Two Greystar-branded Overture active adult communities traded together to Red Cove Capital, the multifamily investment arm of Sixth Street, for a combined $127.6 million, or $373,000 per unit. The per-unit figure was published rather than computed by us, which is why it is flagged as reported — and note that the combined price and the combined per-unit figure together imply roughly 342 units across the two buildings, though neither community's individual unit count was disclosed and neither is asserted here. Overture Cotswold was built in 2018 in Charlotte and Overture Arboretum in 2017 in Austin; because the two vintages differ, the yearBuilt field is left null rather than forcing a single number onto a two-asset portfolio. The category distinction is the part that matters for anyone tempted to file this alongside assisted living comps. Active adult is age-restricted rental housing, typically 55-plus, with no licensed care, no care revenue, no state survey exposure and no clinical staffing model. It is much closer to conventional multifamily than to seniors housing, which is precisely why the buyer is a multifamily investment arm rather than a healthcare REIT or an operator-sponsor. Read the $373,000 per unit against the $442,000 per unit LTC Properties paid for a four-community, 453-unit Class-A independent living, assisted living and memory care portfolio in the Twin Cities five days earlier and the gap looks modest — but those are different products with different revenue ceilings, and the active adult figure carries none of the operating-business risk the licensed number does. The financing detail is its own signal: $53 million of acquisition debt against $127.6 million of price is roughly 41.5% of purchase price, a conservative advance that says more about how this sponsor chose to capitalise the trade than about what lenders would have stretched to. Individual unit counts, the seller, occupancy at closing, and the split of price between the two assets were not disclosed and none are estimated here.

PENDING — this is a construction loan on a community that has not been built. It is recorded here as a capital-stack data point, not a trade. North River Partners, Crestline Investors, Mutual of Omaha and Millennium Bridge closed a $54.0 million ground-up construction loan for Serenova at Dripping Springs, a 175-unit age-restricted independent living community about 25 miles west of Austin. The developer is Edison Equity Residential, working with ARCTRUST Private Capital. The unit mix is 133 one- and two-bedroom apartments and 42 private villas. Base rent is expected to include meals, utilities, housekeeping and some transportation. That bundled-services model puts it between active adult and conventional independent living, and there is no licensed care. Construction is expected to start in the fourth quarter of 2026, with first residents in summer 2028. The price field is null because this is a loan, not a sale. $54.0 million over 175 units is about $308,571 of debt per unit on our arithmetic, but that is a lender's advance against a development budget, not a value. An earlier AltsWire report (September 9, 2026) said the loan had closed without giving its size; the $54.0 million figure comes from Connect CRE's September 22 report. The street address is the one on the operator's own Dripping Springs community page, and it may be a leasing or information address rather than the building site. Total development cost, loan terms, equity amount and projected rents were not disclosed and none are estimated here.

Cambridge Realty Capital closed $3.73 million of HUD-insured refinancing on Avalon Memory Care Fort Worth. This is a loan, not a sale — the price field is null and no valuation should be read out of the loan amount. The structural terms were reported with unusual specificity and they are the interesting part: fully amortising, 35-year term, mortgage insurance premium fixed at a rate near 6%. A 35-year fully amortising fixed-rate loan is the most borrower-favourable structure available anywhere in seniors housing finance, and it exists only because HUD's Section 232 programme insures it. No bank or bridge lender writes that duration against a memory care asset. The sponsor context reported alongside it is what makes this more than a small refinancing: the borrower is a Texas limited liability company replacing mortgage debt obligated across eight facilities in the Dallas-Fort Worth area. That makes this single-asset HUD loan one piece of a portfolio-level debt restructuring — an owner peeling individual buildings out from under blanket or cross-collateralised financing and re-terming them one at a time into long-dated agency paper. The pattern is worth recognising, because it usually signals an owner positioning for either a long hold or an eventual asset-by-asset disposition, and HUD debt is assumable, which makes each refinanced building materially easier to sell later. On the property: the street address is Avalon Memory Care's own published Fort Worth location. Senior living directories describe the community as licensed for 40 memory care beds, but the transaction reporting did not publish a unit count, so the units field is deliberately null rather than carrying a directory figure into a deal record. Purchase price, valuation, occupancy, payor mix and the identity of the sponsor entity were not disclosed.

Priority Life Care and its capital partner Almanac announced the acquisition of seven senior living communities across Pennsylvania. Record what is actually established here, because it is less than the headline implies: the trade press item is built on a LinkedIn post by PLC chief executive Sevy Petras, not on a broker release or a buyer press release. No community names, no cities, no unit counts, no price, no seller and no broker were published, so every one of those fields is null. We are recording it because the operator identity and the capital structure are the useful part. PLC is a middle-market operator — it built the Celebration Villa brand out of former Eclipse communities in 2021 and has repeatedly taken over management of REIT-owned buildings rather than buying them. Seven communities acquired with a named private equity real estate partner is a different posture from managing someone else's assets: it is an operator moving from fee stream to ownership, which changes who carries the census risk and who captures the upside on a turnaround. The detail worth underwriting off is Petras's own statement that while some of the communities are new to PLC, the operator has worked with others in the past. A buyer acquiring buildings it has already operated is buying a known quantity — it has the census history, the staffing reality and the rate ceiling in hand before it prices, which is the single biggest information advantage available in this asset class and usually shows up as a willingness to pay more than a cold bidder will. Pennsylvania is also a state where personal care homes and assisted living residences are licensed under separate regulatory regimes with materially different requirements, and nothing in the reporting establishes which licence type these seven buildings carry. We do not assert it. Price, unit count, care mix, licence type, seller, broker, vintage, occupancy and the individual community identities were not disclosed and are not estimated.

A 153-unit independent living community in Cincinnati traded to a Chicagoland-based owner-operator, brokered by Blueprint. No price was published, so there is no per-unit figure and none should be inferred. The part of this release worth reading closely is the process language, which is unusually explicit: the sale was conducted through what Blueprint describes as a quiet, highly targeted marketing process designed to preserve operational stability, protect resident and employee confidence, and engage only a select group of qualified investors with demonstrated experience in seniors housing. That sentence is a description of a deliberately narrowed bidder pool, and it is worth being honest about the trade-off it represents rather than treating it as pure best practice. A confidential process genuinely does protect census — a fully marketed sale of an occupied community leaks to staff and families and can cost real occupancy before it closes, which is why sellers of stabilised buildings increasingly choose it. But a select group of pre-qualified investors is by definition a smaller group than the whole market, and a smaller group clears at a different number than a broad auction does. Which direction it moves price depends on whether the confidentiality premium on operational continuity exceeds the discount from fewer competing bids, and no published figure here lets anyone settle that question. Note also the product type: this is independent living, not licensed assisted living, which means no care revenue, no state survey exposure and a rent roll that behaves much more like conventional multifamily than like an ALF. Buyers price that differently and lenders underwrite it differently. On the address: the press did not name the community, and while Cincinnati has a limited number of independent living communities at roughly this unit count, identifying one from a unit count is an inference and not a confirmation, so the address field is deliberately null. Community name, price, seller, vintage and occupancy were not disclosed.

August Healthcare Group and 980Investments closed $180 million of financing against a 785-bed, seven-facility skilled nursing portfolio spanning North Carolina and Virginia, funded by BHI, the U.S. branch of Israel-based Bank Hapoalim. This is a loan and not a sale. The price field is null and no per-bed valuation should be read out of it — what the $180 million establishes is that a full-service commercial bank was willing to advance roughly $229,299 per licensed bed against this specific portfolio, which is a financeability data point, not a comp. The two are routinely confused and the confusion is expensive: a lender's advance reflects its loan-to-value discipline, the sponsor's balance sheet and the recourse package, so a per-bed debt figure sits somewhere below the per-bed value the parties themselves believe in, by a margin nobody outside the deal can size. The sponsor profile is the part worth recording. August Healthcare Group was founded in 2021 and, per the reporting, operates nine facilities totalling more than 1,000 beds across North Carolina and Virginia — so this financing covers seven of nine buildings and the large majority of the bed count. A five-year-old operator raising $180 million from a commercial bank rather than an agency or a bridge lender is a meaningful signal about how banks are currently pricing regional skilled nursing sponsors with contiguous two-state footprints. Contiguity matters more than it sounds: a portfolio concentrated across one border shares a labour market and a regional referral network, while each side still carries its own Medicaid programme, survey agency and certificate-of-need regime. That combination gives an operator real staffing leverage and gives a lender two independent state reimbursement exposures rather than one — which is a diversification argument a single-state portfolio of the same size cannot make. Facility names, cities, street addresses, bed counts by building, occupancy, payor mix, loan term, rate, amortisation and the split between the two co-owners were not disclosed and none are estimated here.

PENDING — this is a development still under construction, not a completed transaction, and it is recorded here as a capital-stack data point rather than a trade. Walker & Dunlop closed roughly $30 million of Low-Income Housing Tax Credit equity into Avanti Hills, a 260-unit affordable senior housing community being developed in Mesquite, in the eastern Dallas-Fort Worth metroplex, by KCG Companies in a joint venture with The Javelin Group and the Mesquite Housing Finance Corporation. Total project cost is reported at $78.45 million, which works out to approximately $301,731 per unit of development cost across 260 units — computed here, not published, and emphatically not a valuation. Development cost and market value are different quantities, and in subsidised housing they diverge sharply because the rent restriction caps what the income stream can ever support. The unit mix is reported as 135 one-bedroom and 125 two-bedroom apartments for adults aged 55 and older, with every unit restricted to households earning up to 60% of Area Median Income. Two structural points matter for anyone underwriting private-pay product in the same submarket. First, licensure: this is age-restricted affordable apartments, not licensed assisted living. There is no care revenue, no state survey exposure and no acuity-driven rate escalation — the rent roll behaves like restricted conventional multifamily, so it does not compete for the assisted living resident. It competes at the bottom of the independent living rent band, and it competes there with a subsidy no market-rate building can match. Second, the capital structure: this is a 4% LIHTC deal supported by tax-exempt bond financing issued through the Mesquite Housing Finance Corporation, with a bank debt pairing of Citi Community Capital and Bank of America alongside the tax-credit equity. That is the structure whose federal eligibility test changed for properties placed in service after December 31, 2025, which is why a deal of this shape closing now is worth logging. No street address was published in any of the reporting reviewed, and we will not guess a site for a project under construction. Completion date, rents, per-unit bond allocation, the equity-to-debt split and the general contractor were not disclosed.

An 82-unit assisted living and memory care community in O'Fallon, Illinois, on the Illinois side of the St. Louis MSA, traded out of private ownership to a publicly traded West Coast REIT. No price was published, so the price field is null and no per-unit figure is computed. The detail worth underwriting off is the seller structure rather than the asset: the reporting describes ownership held across five separate investors. A five-way private ownership group is one of the more reliable predictors of a sale actually closing once it starts, and of a disciplined rather than opportunistic price. Five owners means five separate liquidity clocks, five estate and tax situations, and no single party able to hold the asset hostage to a number the others will not wait for — which is why fractured private ownership tends to produce clean marketed processes rather than the whisper deals a single family owner might prefer. It also explains the buyer. A public REIT underwriting a stabilized, described-as-stabilized AL/MC community is buying predictable in-place cash flow and a clean title chain, and a fractured cap table is only attractive to that buyer once a broker has already assembled consent. The REIT is described only as West Coast-based and publicly traded; we are not going to name it on an inference, because the candidate set is small enough that a wrong guess would be both obvious and repeated. The street address is taken from the community's own published listings, which are consistent across several independent directories, rather than from the transaction release, which gave the city only. Purchase price, cap rate, construction year, occupancy at close, the incoming operator and the specific REIT were not established from a primary source and are not asserted here.

A 99-bed Florida skilled nursing facility sold out of private equity ownership to a joint venture pairing a skilled nursing real estate company with an operator. Read the pricing language on this one carefully, because it is the kind of sentence that quietly corrupts a comp set. No purchase price was published. What the advisor said is that its own transaction database treats a high Florida price as one exceeding $200,000 per bed, and that this facility sold above that level. That is a threshold characterisation from the sell-side, not a reported number, so the price field is null and no per-bed figure is computed here — the honest statement is that the trade cleared a bar the broker defines, not that it printed a comp at any particular figure. What is reported is the operating profile, and it explains the outcome: roughly 88 percent occupancy and more than $3 million of EBITDAR at the time of sale. A performing Florida SNF throwing off that kind of cash flow is exactly the asset that draws the real-estate-company-plus-operator joint venture structure, where the capital partner owns the dirt and the operator takes the license and the operating risk. The advisor reported identifying several potential buyers and generating multiple bids, which is the mechanism behind a high per-bed clearing price rather than the cause. On the address: the press did not name the facility, and while the CMS Nursing Home Provider Info dataset shows exactly one Daytona Beach facility with 99 certified beds — Beach Street Health and Rehabilitation Center at 1001 S Beach Street — that is an identification inferred from a bed count, not a confirmed match, and CMS has not recorded a change of ownership there. It is recorded here as a lead worth checking, not as fact, and the address field is deliberately left null. Facility name, price, construction year and the specific parties were not disclosed.

A Georgia-concentrated owner/operator sold the only two skilled nursing facilities it held in Florida, and the buyer was an operator that already ran facilities in the state. No price, bed count, facility name or city was published, so every one of those fields is null here and nothing per-bed should be inferred. The entry earns its place on the wire for the seller motivation and the speed, which belong together. This is geographic pruning, not distress: occupancy had historically hovered around 90 percent and cash flow was trending upward through the marketing period, with the advisor noting room for further improvement. A seller exiting healthy assets is exiting because two facilities several hundred miles outside its core state carry a regional overhead and a separate state regulatory relationship that a Georgia platform cannot amortise — the same logic that produces single-facility divestitures out of large portfolios, applied to a small operator. The buyer profile is the mirror image and is why it moved fast: an operator already licensed and staffed in Florida is buying density in a market it understands, which collapses both the diligence question and the change-of-ownership licensure risk that would otherwise slow a cross-border trade. The advisor reported presenting the deal to several potential buyers and closing within three weeks, which is close to the practical floor for a two-facility licensed transaction and only happens when the buyer's Florida licensure track is already open. Price, bed counts, facility names, cities, construction years and the parties were not disclosed and none are estimated here.

Health Wave Partners acquired American House Myrtle Beach at Grande Dunes, a 98-unit assisted living and memory care community inside the Grande Dunes master-planned development, in an off-market transaction. No price was disclosed, so there is no per-unit figure and none should be inferred. Two things make this worth recording beyond the asset itself. First, the sourcing: American House assumed management of the community in April 2026 and then brought the opportunity to Health Wave through an existing relationship with the American House and REDICO executive teams. That is an operator-originated, off-market deal — the manager found the asset, then found the capital — and it is a structurally different origination path than a marketed sale. There is no bidder pool and therefore no auction-clearing price, which is why the absence of a published number here is unsurprising rather than evasive. Second, the buyer profile: Health Wave Partners was founded in 2025, is run by John Cobb with an experienced seniors housing investment team, and is backed by Macquarie Asset Management. This is its fourth acquisition. A firm roughly a year old completing four deals with a global infrastructure manager behind it is a reasonable proxy for how institutional capital is currently entering seniors housing — through new, operator-adjacent vehicles rather than through established platforms. On the vintage, the sources disagree and the disagreement is recorded rather than resolved: the buyer's own announcement and consumer listing sites put construction at 2021, while the trade reporting says 2022 and credits Watercrest Senior Living as developer. The earlier date is carried here because it appears in the buyer's own release. Purchase price, the unit mix between assisted living and memory care, the seller, occupancy and cap rate were not disclosed.

RiverGlade Capital Partners, a Chicago-based healthcare-focused private equity firm, has acquired Senior Living Residences (SLR), a Northeast senior living operator founded in 1990 that runs 24 independent living, assisted living and memory care communities across Massachusetts, Connecticut, New Hampshire, New Jersey and Rhode Island. SLR keeps its name and leadership team; founder Bob Larkin moves to the board, and Senior Housing News reported he is retiring in conjunction with the transaction. Senior Housing News first reported the partnership on September 16, 2026, and Seniors Housing Business reported it as an acquisition on September 25, 2026 — the date field carries the September 16 first-report date. Terms were not disclosed: there is no price, no unit count and no per-community figure, and none is estimated here. The structural point is what was bought. This is an investment in an operating company, and the reporting reviewed does not say whether any real estate conveyed with it or whether SLR's communities are owned, leased or managed for third-party owners. That distinction decides whether this belongs anywhere near a property comp set, and until it is disclosed it should not be read as one. What the reporting does describe is intent: SLR is positioning to grow through acquisitions, mergers and new development with RiverGlade as capital partner, which makes it a new Northeast buyer to watch rather than a pricing data point.

An 80-bed Rhode Island skilled nursing facility changed hands as a regional owner-operator exited the state entirely. Almost nothing about the economics was published — no price, no facility name, no city, no occupancy, no payor mix and no close date — so every one of those fields is null here rather than estimated. What the reporting does establish is the shape of the trade, and the shape is the useful part. The seller was a regional owner-operator leaving Rhode Island; the buyer was a national owner-operator that already operates in the state. That is a consolidation trade rather than a capital-markets trade, and it is the pattern that has been quietly reshaping small New England skilled nursing markets: a sub-scale regional operator concludes that a handful of buildings cannot carry the overhead a modern survey, staffing and managed-care environment demands, and sells to the party that already has a state-level platform to absorb it. The incumbent buyer is the natural bidder precisely because it already holds the Medicaid provider relationships, the state survey history and the regional staffing pool, which means it can underwrite license-transfer risk more cheaply than an out-of-state entrant can. ESI reported running a competitive process that generated multiple qualified offers, which is worth recording because it cuts against the assumption that a single-asset exit in a small state is necessarily a quiet, thinly bid transaction. Rhode Island is a small certificate-of-need state, so an 80-bed license is a meaningful share of a constrained supply — but we have not verified the CON treatment of this specific transfer and do not assert it. We also deliberately did not attempt to identify the facility from the CMS Nursing Home Provider Info dataset: Rhode Island has multiple facilities at or near 80 certified beds, so a bed-count match would not be an identification, and guessing at one would put a wrong address on a real trade. Price, per-bed value, facility identity, city, construction year and occupancy were not established from any primary source and are not asserted here.

A 122-unit community in Stockbridge, about 20 miles southeast of downtown Atlanta, changed hands into a 1031 exchange vehicle with JLL Capital Markets arranging $21 million of acquisition financing. The single most important thing to hold onto here is that the $21 million is the LOAN, not the price. No purchase price was published, so the price field is null and no per-unit figure is computed — reading a financing headline as a sale comparable is one of the faster ways to corrupt a per-unit dataset, and this entry is deliberately structured to prevent that. What makes it worth logging anyway is the buyer type. 1031 CF Properties is a DST sponsor, and the community is the featured asset in its Senior Housing DST 12 offering, which means the equity behind this purchase is retail 1031 exchange money rather than an institutional fund or a REIT balance sheet. That is a different bidder sitting at the table from almost everything else on this wire, and it prices differently: DST buyers are buying a stabilized, financeable, low-management-drama income stream for investors who must place exchange proceeds inside a statutory deadline, which tends to favor high-occupancy assets over value-add ones. This asset fits that profile exactly — the sponsor reports it 98.4 percent occupied and built in 2022, so it is recent-vintage, essentially full product. Care type is recorded as mixed because the sources genuinely disagree on emphasis and we are not going to resolve it by preference: the sponsor's own offering describes a 122-unit independent living, assisted living and memory care community with independent living cottages and a dedicated secure memory care wing, while some third-party referral listings market it primarily as assisted living and memory care. The street address is taken from the operator's own published community record, not from the financing release, which gave the city only. Purchase price, seller, lender name, loan terms and the JLL team members were not established from a primary source and are not asserted here.

River Glen of St. Charles, a 106-unit senior living community in the Fox Valley submarket west of Chicago, traded out of Citrine Investment Group to a buyer described only as a long-term institutional owner of senior housing. The price was not disclosed, so the price field is null and no per-unit figure is computed. The useful fact in this entry is the hold period, not the price. Citrine bought the community in January 2023 and exited in September 2026 — call it three years and eight months, which is a normal value-add hold rather than a distressed dump, and the buyer profile reinforces that reading. Institutional capital described as long-term does not typically step into a broken operation at the end of a short hold; it steps in after someone else has finished the work. Against the rest of our tape this is the second September print in a row where a private value-add sponsor handed stabilized product to a longer-duration owner, following the Class-A Denver community BWE sold to a national REIT. That is the shape of the current market: the 2021 through 2023 vintage of private sponsors is clearing into institutional hands, at prices none of them are publishing. No street address was reported and none is recorded here. Unit mix across independent living, assisted living and memory care, construction year, occupancy, the broker and both the price and the January 2023 basis were all undisclosed. Without the basis there is no way to compute what Citrine made on it, and we are not going to guess.

Senior Living Transformation Company closed a $300 million recapitalization of the Prime Care Portfolio — 957 assisted living and memory care units across nine assets in Connecticut, New Jersey, Maryland and North Carolina, operated by Sunrise Senior Living. The $300 million is a RECAPITALIZATION total, not a purchase price, and the distinction is the whole point of this entry. No partners exited the portfolio. Ownership shares were reshuffled and SLTC came in with preferred equity, so nothing here traded in the sense that would make it a sale comparable. The price field is null and no per-unit figure is computed: dividing $300 million by 957 units would produce roughly $313,000 per unit, and that number would be wrong in a way that matters, because a recap total reflects the capital stack being rebuilt rather than the value of the fee interest. Anyone tempted to lift it as a comp should not. What is genuinely informative is the shape of the deal. The assets are described as older vintage but sitting in strong, affluent markets — which is the recurring 2026 pattern of capital solving a balance-sheet problem on aging product rather than the product being sold into a competitive process. Preferred equity filling that gap, off-market, with every existing partner staying in, is what a recapitalization market looks like when the cost of senior debt has moved against a sponsor but the underlying operations do not justify a sale. Buyer and seller are left null deliberately: in a no-exit recap there is neither. Individual asset names, street addresses, the split of units between assisted living and memory care, construction years, occupancy and the preferred equity terms were all undisclosed and are not estimated here.

A Class-A seniors housing community at 200 Old Hook Road in Harrington Park, Bergen County, New Jersey traded from a PGIM Real Estate and Allegro Senior Living joint venture to a joint venture of AEW Capital Management and Foundry Commercial. The community carries 173 independent living, assisted living and memory care units on a 9.2-acre site. The sale price was NOT disclosed, so the price field is null and no per-unit figure is computed or should be inferred — with 173 units, any price that later surfaces will make this a useful Northeast Class-A datapoint, but we are not going to manufacture one now. Two structural details are worth recording. First, Allegro developed the asset with PGIM and is staying on both as operator and as an equity partner, so this is a partial recapitalization with a new institutional partner rather than a clean exit — the seller field reflects that rather than describing Allegro as departed. Second, JLL sat on both sides of the capital: Jim Dooley's Senior Housing Capital Markets team represented the sellers on the trade, and JLL separately secured a five-year acquisition loan from a life insurance company on behalf of AEW. Loan amount, rate and terms were not disclosed. A five-year life-company execution on Class-A seniors housing in September 2026 is itself the signal here, given where the ten-year Treasury sat that same week; life-company paper competing for this product means the lender saw durable in-place cash flow rather than a lease-up story. The per-care-type unit split, construction year, occupancy and price were all undisclosed. The address comes from the property's own listings and the Real Estate NJ reporting, not from the brokerage release.

RISE, a development and property management firm, refinanced its newly built active adult community in Jacksonville, Florida with a $101 million loan originated by BWE and funded by HPS, part of BlackRock. This is a FINANCING, not a sale — nothing traded, so the price field is null and no per-unit valuation should be read off the loan. The community received its final certificate of occupancy in May 2026 and comprises 109 one-bedroom apartments, 127 two-bedroom apartments and 72 single-story cottage units with attached garages: 308 units in total, summed here from the three reported components rather than published as a single count. On that basis the loan represents roughly $327,900 per unit of DEBT, which is a leverage figure and not a value. The purpose is the instructive part. RISE was taking out construction and mezzanine debt at final certificate of occupancy, minimizing carried interest through lease-up, and buying the asset enough runway to stabilize — a classic bridge-to-stabilization execution on brand-new product, not a stabilized refinance. That distinction matters when this shows up in anyone's comp set: the lender underwrote a lease-up, not a trailing twelve. Active adult sits adjacent to, not inside, licensed seniors housing, and is recorded here as senior apartments because no care component was reported. Loan rate, term, loan-to-cost, the split between BWE and HPS, occupancy at closing and the lease-up assumptions were all undisclosed. No street address was reported and none is recorded; Glen Kernan is an east Jacksonville submarket but we do not guess an address off a neighborhood name.

Two skilled nursing facilities in St. Albans, Vermont sold together for $10.5 million as an independent owner/operator exited the industry entirely. Franklin County Rehab Center carries 64 beds and The Villa Rehab carries 30, so 94 beds combined and $111,702 per bed — computed here from the reported price and the two reported bed counts, not published as a per-bed figure by the advisor. Two things make this worth studying rather than filing. First, the blend hides a spread. CMS Nursing Home Provider Information (dataset 4pq5-n9py, retrieved September 14, 2026) puts Franklin County Rehab Center at 110 Fairfax Road with 64 certified beds, 58.7 average residents per day and a 4-star overall rating, and The Villa Rehab at 7 Forest Hill Drive with 30 certified beds, 22.2 average residents per day and a 1-star overall rating. That is roughly 91.7 percent census against 74.0 percent — a 17.7-point in-portfolio gap sold at one blended number. Those CMS figures are a federal reporting vintage and are not the occupancy the parties underwrote; the advisor described occupancy only as strong with a favorable quality mix, and no transaction occupancy figure was reported, so the occupancy field here is left null. Second, the value story was told on the expense line rather than the census line: the advisor identified $560,000 of immediate administrative expense savings and attributed the premium valuation to it. For scale, $560,000 is 5.3 percent of the entire purchase price as an annual figure — capitalize it at any plausible skilled nursing rate and it is a material share of what the buyer paid, which is why an expense-side thesis can carry a small portfolio that a census-side thesis could not. Against our own tape the price sits high for the sector: Fallbrook Rehabilitation and Care Center in Houston printed $74,257 per bed in July and a two-facility Georgia package printed $78,109 per bed in June, while a 128-bed Wyoming facility set a state record at $156,250 per bed in April. Barriers to entry were cited — limited direct competition within a 20-mile radius — which in rural New England is a supply fact rather than a marketing line. Buyer name, purchase structure, construction years and the allocation of price between the two facilities were not disclosed and are not estimated here.

A 137-unit Class-A community roughly eight miles southwest of downtown Denver traded from a private equity seniors housing investor to a national REIT, with Stellar Senior Living staying on as operator. The unit mix is unusually well disclosed for an undisclosed-price deal: 118 assisted living units and 19 memory care units, so this is an assisted living asset with a memory care wing rather than a balanced two-license community, and it is filed under Assisted Living accordingly. The price was not disclosed. No per-unit figure is computed and none should be inferred — with 137 units in a metro Denver Class-A trade, any price that later surfaces would be a genuinely useful Mountain West datapoint, which is exactly why manufacturing one now would do damage. Two things make this entry worth reading against the CareTrust print at the top of the tape. First, direction of travel: a private sponsor sold stabilized Class-A product to a REIT and the operator did not change, which is the same operator-stays structure CareTrust used on 2,622 skilled nursing beds, arrived at from the opposite side. Second, process: BWE's own language describes interest from institutional and private investors alike, so this cleared through a competitive process rather than the off-market re-trade CareTrust described. Competitive process plus an undisclosed price usually means the seller was satisfied and saw no reason to publish. The street address is recorded from the community's own listing and its mapped coordinates in Lakewood, not from the brokerage release, which gave the metro only. The buyer REIT is unnamed in the reporting and is left unnamed here. Construction year, occupancy, the capital invested in recent years that the release alludes to, and the price were all undisclosed.

This is a refinancing, not a sale, and it is recorded that way: Live Oak Bank closed a $20.5 million refinance in July 2026 on The Meridian at Brandon, a 136-unit assisted living and memory care community. No property changed hands, there is no purchase price, and nothing here is a sale comparable. What makes it worth recording is a rare published cost basis. The community is owned by a joint venture of Madison Marquette and Meridian Senior Living, which partnered with Saudi Arabia-based Arbah Capital to develop it in 2021 at an estimated cost of $36 million — roughly $264,706 per unit of development cost, computed by us from the reported figures. Set the new loan against that basis and the arithmetic is instructive: $20.5 million is about 57 percent of the stated development cost, or $150,735 of debt per unit. A 2021 delivery reaching a conventional bank refinance in 2026 at roughly 57 percent of cost is a stabilisation signal rather than a distress signal, but the leverage is conservative enough to suggest the appraised value did not run far ahead of cost. Treat the $36 million as reported by the trade press rather than as a verified basis; development cost figures published years after the fact are frequently the original budget rather than the final settled number. A geography note: the advisor release places the community in Brandon, Florida, while the operator's own community listing carries a Tampa 33619 mailing address at 9215 Causeway Boulevard. Both are correct in the way people use them locally — Brandon is the submarket name for that eastern Hillsborough County corridor — and the street address is the field to rely on. Occupancy, current appraised value and loan terms were not disclosed.

An Unbridled Living and Providence Capital Group joint venture acquired an Illinois independent living community, financed with an $18,516,000 non-recourse loan arranged by CBRE and sourced from a debt fund after a competitive process. The $18.516 million is the LOAN, not the price — the purchase price was not disclosed, the unit count was not reported, and no per-unit figure is computed or should be inferred. The signal in this one is the lender type. Independent living is the least regulated and most real-estate-like product on this wire, the kind of asset that in a normal market is bank or agency paper. A joint venture instead clearing a competitive process into a debt fund on non-recourse terms usually means one of three things: the asset is transitional or in lease-up and does not yet show the trailing twelve months a bank underwrites, the sponsor wanted closing certainty and speed more than the lowest coupon, or the borrower needed leverage above what a recourse bank quote would carry. Debt funds price for all three, and the non-recourse structure is what the sponsor is paying the spread to get. The advisor headline places the community in Illinois while the body of the release describes it only as the Midwest, so the state is recorded and the city is not. Property name, city, street address, unit count, construction year, occupancy, seller and loan terms were all undisclosed.

A Northeast-based owner/operator acquired a New York seniors housing community, with MONTICELLOAM providing $30 million of bridge financing to support the purchase. The distinction worth holding onto is that $30 million is the LOAN, not the price — the purchase price was not disclosed, and a bridge loan is sized to a lender's advance rate against value, not to the contract. Reading a financing headline as a sale comparable is one of the easier ways to corrupt a per-unit dataset, so no price and no per-unit is recorded here. The asset is described only as comprising more than 120 assisted living beds; because that is a floor rather than a count, no bed figure is recorded either. Bridge debt on an assisted living acquisition generally signals a transitional story — a licence transfer, an occupancy or margin ramp, or a borrower who intends to refinance into agency or HUD paper once the operating history seasons. MONTICELLOAM originated a separate $17 million acquisition bridge loan weeks earlier for a New Hampshire skilled nursing facility of more than 100 licensed beds, so this is an active bridge lender in the Northeast rather than a one-off. Buyer name, seller, broker, property name, city, street address, construction year and occupancy were all undisclosed.

A large owner sold a struggling western Tennessee skilled nursing facility to a Florida-based buyer, with the seller describing the asset as non-core to its portfolio diversification strategy. The facility was reported as approximately 125 beds; because that is an approximation rather than a licensed count, no bed figure is recorded here and no per-bed number should be inferred. Census was described as struggling at the time of sale. The reason this small, undisclosed-price trade belongs on the wire is the seller motivation, which is a distinct category from both distress and succession: a portfolio owner pruning a geographic outlier. That seller is not under lender or court pressure, is usually indifferent to holding a few more months, and prices to clear rather than to maximise — which tends to produce a wide bid-ask early and a fast close once a credible operator appears. The buyer profile fits the pattern: an out-of-state operator taking a single facility in a state where it presumably wants a foothold, which requires a Tennessee change-of-ownership licensure track that runs on its own clock independent of the closing. Price, facility name, city, street address, licensed bed count, construction year and occupancy were all undisclosed. This transaction was reported in the same advisor release as the $90 million two-facility Illinois CCRC sale recorded separately on this wire.

A Class-A community of 135 assisted living and memory care units in the Hartford MSA, sold to American Healthcare REIT with LCB Senior Living retained as manager. This is the third AHR purchase on this wire inside roughly a week, after the eight-community, $696 million Northeast package and the $572 million closed tranche of the Kensington portfolio — and the pattern across all three is the same: buy stabilised private-pay product in a supply-constrained infill market and keep the incumbent operator in place. LCB developed or managed five of the eight communities in the $696 million package and picked up two more Northeast properties after that closing, so AHR is now concentrating exposure with a manager it has just materially expanded with, in a market where the reporting notes it already has a Greater Hartford footprint. That is operator concentration being built deliberately rather than incidentally, which is the underwriting question a buyer of this REIT should be asking. Cushman & Wakefield's senior housing capital markets team closed this alongside a second transaction for a different seller. The purchase price was not disclosed, so no per-unit figure is computed and none should be inferred; the asset is described as stabilised but no occupancy percentage and no construction year were published. The street address is the community's own published location.

A recapitalisation rather than a clean sale: Charter Senior Living took on a new private equity joint venture partner in a community it has managed since 2018 and will continue to operate. The physical format is the part worth studying. This is 64 units across four separate cottages — two assisted living, two memory care — rather than a single mid-rise, and the community's own materials describe each house as serving roughly sixteen residents. Small-house product prices and staffs differently from a consolidated building: it trades circulation efficiency and centralised labour for a household model that tends to hold census and command rate in memory care, which is exactly the segment carrying pricing power right now. Built in 2005, so this is twenty-year-old real estate, not new construction, and the reporting describes it as well maintained with strong occupancy and consistent cash flow at the time of sale — no occupancy percentage was published, so none is recorded. Blueprint is reported as representing an East Coast-based private equity group; the available reporting does not state which side of the table that group sat on, so neither buyer nor seller is recorded here and the private equity partner was not named. No price was disclosed and no per-unit is computed. Charter has a meaningful Chicagoland presence; Fox Lake sits roughly fifty miles northwest of the Loop in the Chain O'Lakes area. The street address is the community's own published location.

Two facilities sold together by a family that had owned them for a long time: one with 349 supportive living beds and 49 skilled nursing beds, the other with 223 supportive living beds and 75 skilled nursing beds — 696 beds combined, summed by us from the four reported counts. Both carry CCRC licences and offer supportive living, assisted living and skilled nursing. Supportive living is the detail an out-of-state buyer misreads most often: it is an Illinois-specific Medicaid waiver programme that lets a licensed facility serve Medicaid-eligible residents in an assisted-living setting, so a bed described as supportive living is a Medicaid revenue line with a state-set rate, not private pay. At 572 of 696 beds, supportive living is the overwhelming majority of this portfolio, which makes the underwriting a reimbursement exercise far more than a real estate one and narrows the buyer pool to groups that can hold Illinois licences and manage that programme. Combined occupancy was reported at approximately 75 percent, so there is genuine census upside and equally genuine fixed-cost drag at that level. Process detail worth noting for anyone advising a long-hold family seller: the owner considered divesting two years earlier and stood down before committing at the start of 2026, and the transaction then closed within nine months — a realistic clock for a licensed, Medicaid-exposed Illinois asset. The assets sold for $90 million, which is $129,310 per bed across the 696 combined beds — computed by us from the reported price and the four reported bed counts, not published as a per-bed figure. Read that number against the licensure mix before using it as a comparable: at 572 of 696 beds on the Illinois supportive living waiver, this is largely a Medicaid-rate asset priced above several recent private-pay-adjacent skilled nursing trades on this wire, which says more about the durability of a state-set rate with an assumable HUD loan behind it than about the real estate. The buyer, an individual investor, assumed the existing HUD loan and leased the facilities to a third-party operator — an assumed HUD execution is itself part of the price, because it hands the buyer in-place, long-dated, fixed-rate leverage that a 2026 acquisition loan would not replicate. Buyer name, facility names, cities and street addresses were not disclosed and are not estimated here.

Two northwest and far-west Chicago suburban communities bought together by The Inland Real Estate Group: Deer Park Village at 21840 W Lake Cook Rd in Deer Park, 188 units, and The Landings at 2450 W Fabyan Pkwy in Batavia, 142 units, for 330 units combined. Both offer a full continuum of independent living, assisted living and memory care, and Dial Senior Living stays on as manager for the new ownership. JLL Capital Markets arranged $112 million of acquisition financing on Inland's behalf, with Sam Dylag leading the JLL team. Read the $112 million carefully: it is the debt placed against the purchase, not the purchase price, and the purchase price was not disclosed — so no per-unit figure can be computed from it and none should be inferred. Two things make this worth logging. First, it is the second time in six months Inland has bought a continuum-of-care community in the Chicago suburbs from a seller who was not named, and the company says the acquisition takes it past $1 billion of senior living acquisitions across a portfolio now exceeding 20 communities; a private buyer building at that pace in one metro is a comparable set that most owners never see. Second, the stated thesis is explicitly supply-side — chief investment officer Joseph Binder cited stabilizing operating margins and material headwinds to new supply rather than demographic demand alone. The seller and price were not published, and no construction year or occupancy figure was reported. Both street addresses come from the operator's own published community listings.

A 99-bed skilled nursing facility attached to John Fitzgibbon Memorial Hospital, sold September 8, 2026 to Strawberry Fields REIT through a Chapter 11 Section 363 sale after a roughly six-month process in bankruptcy court. The winning bid exceeded the stalking-horse bid by about $2.3 million, but neither figure was reported, so price is left blank. Address and bed count are from the CMS Nursing Home Provider Information dataset (CCN 265688, nonprofit, 99 certified beds). A hospital-owned SNF trading out of bankruptcy to a SNF REIT — a recurring pattern as rural hospital systems shed post-acute assets.

PGIM's real estate investment group provided $144 million across two loans secured by ACOYA Shea in the Phoenix metro and The Ambassador of Scarsdale in Westchester County, New York. The $144 million is the LOAN TOTAL, not a purchase price — no sale price, no unit counts and no split between the two loans were reported, so the price field is null and no per-unit figure is computed or should be inferred. Two corrections worth recording, because both matter to anyone using this as a comparable. The trade reporting places ACOYA Shea in Phoenix; the community's own listings and its operator Cogir put it at 7373 E Shea Blvd in SCOTTSDALE, 85260 — a different submarket with different rate and land economics, and the distinction is not cosmetic in this market. Likewise The Ambassador of Scarsdale carries a Scarsdale brand name, but the property itself sits at 9 Saxon Woods Road, which its own site and several independent listings place in White Plains, 10605, on roughly seven acres bordering Saxon Woods Park. Both addresses here come from independent community listings, not from the release, which gave none. The reporting describes amenity-heavy product — restaurant-style dining, card and billiard room, art studio, full-service salon and barbershop, cinema — consistent with Class-A private-pay assisted living and memory care in two high-cost infill submarkets. Borrower, sponsor, loan terms, rate, term and care-type unit mix were all undisclosed. Local relevance for this desk: 7373 E Shea Blvd sits on the same Shea Boulevard corridor we track directly, so this is a live institutional debt print in our own submarket rather than a distant comparable.

Four separate HUD-insured loans totaling $39 million, originated by Berkadia. The individual tranches were reported: $16.7 million against a 120-bed skilled nursing facility in Plantation, Florida; $13.3 million against a 37-unit seniors housing property in Northern California; $3.78 million against a 27-unit assisted living community in Oregon; and $5.39 million against a 32-unit seniors housing property in Alabama. These are LOAN amounts, not purchase prices — nothing here traded, so the price field is null and no per-unit or per-bed valuation should be read off these figures. What makes the package worth recording is the per-door leverage spread across the four, which is visible even without prices. The Northern California loan works out to roughly $359,459 per unit and the Oregon loan to about $140,000 per unit — computed by us from the reported loan amounts and unit counts, and a reminder that HUD proceeds track appraised value and debt service coverage, so the spread is mostly submarket rate differential rather than lender appetite. The Florida tranche is the one to watch on this desk: $139,167 per bed of HUD debt on a 120-bed skilled nursing facility, against the $111,702 per bed total PRICE printed on the St. Albans two-facility Vermont exit reported the same week. A loan proceed above another asset's whole sale price is a clean illustration of how far apart skilled nursing basis runs between a Florida metro and rural New England. Property names, street addresses, borrower identities, construction years, occupancy and loan terms were not disclosed; Plantation is the only city named and no individual facility was identified, so no address is recorded rather than guessed.

A 34-unit assisted living community in Daly City, on the San Francisco peninsula, traded at $10.65 million. The per-unit figure of $313,235 was published by the brokerage rather than computed here, and it is the number worth sitting with: it is roughly double what a comparable unit count fetches in most secondary markets, and it is a function of the submarket far more than the building. The community is licensed for more than 50 beds against 34 units, so a per-bed calculation would produce a materially lower figure — which is exactly why per-unit and per-bed cannot be mixed inside one comparable set. The brokerage described competitive bidding and a premium paid for a stabilized asset in an affluent submarket. Buyer and seller were both characterized only as regional owner-operators and neither was named. Street address, close date, construction year and occupancy were not reported; the September 8 date is the report date, not a confirmed closing.

A 107-unit assisted living and memory care community in Sarasota sold out of RECEIVERSHIP to a publicly traded owner/operator. The detail that matters is the vintage: this asset was built in 2016, which makes the distress a capital-structure event rather than a physical one. A nine-year-old building does not reach a receiver because of deferred maintenance. The broker reported national buyer interest and described the submarket as carrying high barriers to entry with no new competing supply — a combination that tends to compress the discount a court-supervised process would otherwise produce. No price was disclosed, so no per-unit is recorded. The buyer was identified only as publicly traded and was not named; the seller was not named. The street address is taken from the operator's own published community record, not from the transaction reporting. September 8 is the report date, not a confirmed closing date.

Morgan Stanley Real Estate Investing bought two Florida communities totaling 300 independent living, assisted living and memory care units: Sonata Lake Mary at 410 Caring Drive in Lake Mary, in the north Orlando suburbs, and The Preserve at Dunedin at 2010 Greenbriar Boulevard in the Tampa metro — note the Preserve carries a Clearwater mailing address despite the Dunedin name. AgeWell Senior Living continues to manage both for the new ownership. The seller and the sale price were not disclosed, so there is no per-unit figure to compute and none should be inferred, and no per-community unit split, construction year or occupancy was published. What makes this worth logging is not the size but the pairing: five days earlier National Healthcare Properties closed on two other AgeWell-managed Florida communities, Sonata Viera and Sonata East at Viera, also with AgeWell retained. Two different institutional buyers took four communities off the same operator's managed portfolio inside one week, in separate transactions, with the manager kept in place both times and the seller named in neither. Street addresses are from the communities' own published listings.

A nine-story, 160-unit Class-A community in Evanston, immediately north of Chicago, sold out of institutional ownership. The mix is 127 independent living and assisted living units plus 33 memory care. Berkadia ran the process on behalf of AEW Capital Management and the buyer is described only as a large national REIT; Solera Senior Living stays on as operator for the new owner. Two things make this worth logging beyond the unit count. First, it is the second Class-A community in a single week reported as trading to an unnamed national REIT, the other being Lakewood Reserve in the Denver metro — the public REITs are bidding stabilized, recently built, urban-adjacent product again, and they are winning it from institutional sellers rather than from distressed ones. Second, the operator was retained through the sale, which is the structure that has come to dominate this cycle: the REIT is buying the real estate and the cash flow, not replacing the management team. No purchase price was disclosed, so there is no per-unit figure to compute and none should be inferred, and no construction year or occupancy was published. The street address is the community's own published address.

A recapitalization rather than a clean sale, and the distinction matters. JLL Capital Markets represented the selling joint venture between Confluent Development and Ovation Group; the buyer is described only as a private equity firm; MorningStar remains both the operator and a joint venture partner in the new ownership. That is the develop-stabilize-recapitalize path running to completion — the merchant developer exits, the operator rolls its interest forward, and new capital takes the stabilized asset. Per the developer's own project record the community is a four-story, 283,000 square foot building on a 3.6-acre site in Summerlin, with 168 total units split 95 independent living, 49 assisted living and 24 memory care; those three counts sum to the 168 we record. This is the largest recapitalization we have logged in the Las Vegas market, which is our own backyard and one where Class-A senior housing product of this scale is genuinely scarce. No purchase price was disclosed, so no per-unit figure is computed. Construction year and occupancy were not published.

A 139-unit campus in Yuba City, north of Sacramento, comprised of two 1990s-vintage communities offering independent living, assisted living and memory care. Blueprint brokered it. The seller was a West Coast owner-operator and the buyer a California-based owner-operator, neither named. The interesting feature is who is on both sides: this is an operator-to-operator trade in a tertiary Central Valley market, with no institutional capital reported on either end. That is where a large share of 1990s-vintage California product is actually changing hands right now, and it is a segment the trade press covers thinly because the prices are rarely disclosed. We record the vintage as reported, the 1990s, rather than assigning a specific construction year we cannot source. No price, no names and no street address were published, so there is no per-unit figure and we do not guess the address.

A 48-unit community on roughly 6.44 acres in Hanover, northwest of the Twin Cities, sold through a formal bankruptcy proceeding with the sale completed under court order. SLIB describes the process as requiring close coordination among counsels, the court, committees and the operations teams, which is the honest description of what that kind of sale actually costs in time. The buyer is an experienced Minnesota operator and a repeat SLIB client continuing an in-state expansion. Two things are worth taking from this. A court-ordered sale is not a fire sale by definition — the court is protecting creditors, and a well-run process can clear at market — but the timeline belongs to the court rather than to either principal, so a buyer needs committed capital and patience in equal measure. And the buyer profile is the one showing up repeatedly in 2026: a regional operator with local licensing depth taking distressed single assets that institutional capital will not underwrite. No purchase price, community name, seller or street address was published, and the care mix was not specified in the reporting, so we assert none of them.

Silver Wave Capital acquired two Michigan communities off market — a 77-unit assisted living and memory care community in Bloomfield Hills and an 85-unit AL/MC community in Rochester, 162 units combined. How it was sourced is the part worth reading: the buyer bypassed a competitive marketing process entirely and, per the report, bought at a significant discount to replacement cost. That is the recurring 2026 pattern on well-located suburban product — the discount is being won at origination through direct owner access, not in a bidding round, which is why an off-market pipeline is now a pricing advantage rather than a convenience. Both are affluent north-suburban Detroit submarkets, on sites the report describes as visible. No purchase price, seller, broker or construction year was disclosed, so there is no per-unit figure to compute and none should be inferred. Street addresses were not published and we do not guess them.

A memory care community in the San Francisco Bay Area, built in the late 1990s, changed hands. The ratio to look at is 34 units against more than 50 licensed beds: the community is licensed for substantial shared occupancy, so a per-unit price would understate — and a per-bed price overstate — what a buyer is actually acquiring. On small memory care assets the licensed bed complement, not the unit count, usually sets revenue capacity, and it is also what a lender sizes to. Price, buyer and seller were not disclosed and the specific city was not published, so no per-unit or per-bed figure can be computed here. We record the build era as reported (late 1990s) rather than assigning a specific year we cannot source, and the address is left blank rather than guessed.

Two seniors housing communities in Wheat Ridge and Denver, 266 units combined, sold by an undisclosed seller. The detail worth flagging is licensure: both communities carry a skilled nursing license while trading as seniors housing. That combination changes the underwriting more than the unit count suggests — a licensed bed complement brings survey exposure, staffing minimums and a Medicaid-adjacent revenue line into what would otherwise be a private-pay assisted living model, and it narrows the buyer pool to groups that can hold the license. No purchase price, buyer or individual community names were disclosed, so there is no per-unit figure to compute and none should be inferred. Wheat Ridge is roughly ten miles northwest of downtown Denver; this is a separate transaction from LTC Properties' July purchase of MorningStar of Wheat Ridge, which is recorded elsewhere on this wire. Street addresses were not published and we do not guess them.

This one is structurally different from everything else on the tape and that is the reason to record it. Pennant did not buy an operating business or enter a new market — a Pennant affiliate has run Mainplace under a triple-net lease since the company's 2019 spin-off from Ensign, and effective September 3, 2026 Pennant bought the real estate underneath its own lease. It is a sale-leaseback unwound from the tenant side. The price was not disclosed and neither was the unit count, so both fields are null and no per-unit figure exists to compute. Pennant characterized the deal only as capital deployment into senior living real estate at attractive pricing, which is a public company telling you it liked the basis without telling you the basis. The seller is not named in the release and is left null rather than assumed to be the original 2019 landlord. What makes this worth a broker's attention is the direction. The dominant 2026 structure on our own tape runs the other way: CareTrust put $400 million into 2,622 skilled nursing beds and leased them straight back to the sitting operator at a roughly 8.6 percent stabilized yield. An operator buying its own dirt is the mirror image of that trade, and the two only both make sense if the operator's cost of capital and the REIT's required yield have moved far enough apart to price the same asset differently. When a tenant with seven years of operating history in a building decides ownership beats the lease, it is making a statement about the rent it has been paying and about what it expects the asset to do — with no marketing process, no broker and no competing bidder to argue with. The street address comes from the community's own website. Nothing about the lease terms being retired, the remaining term, the purchase option if one existed, the cap rate or the price was disclosed.

Two adjacent communities in the Viera area of Melbourne on Florida's Space Coast — Sonata Viera at 3325 Breslay Drive and Sonata East at Viera at 4206 Breslay Drive, roughly a block apart on the same street — sold to National Healthcare Properties, with AgeWell Senior Living staying on as operator. Between them the two offer a continuum of independent living, assisted living and memory care. We are logging this from AgeWell's own announcement rather than a broker release, and that release is thin on the numbers: it names the buyer and confirms operations continue uninterrupted, but gives no unit counts, no seller, no price and no broker, and we could not source those elsewhere, so all four are recorded null rather than estimated. The reason to log a deal this lightly reported is the pattern it sits inside. Five days later Morgan Stanley Real Estate Investing acquired two more AgeWell-managed Florida communities totaling 300 units. AgeWell has managed the full 14-property Sonata portfolio since assuming it as a merger in October 2023, so a single operating platform has now had four of its Florida communities bought by two separate institutions inside a week. Street addresses are from the communities' own published listings.

Cougar Capital Management bought three Western New York communities — two in the Buffalo MSA and one in the Rochester MSA. The reported composition is a 64-unit campus split 40 assisted living and 24 independent living, a 60-unit assisted living and memory care community, and a 63-unit assisted living community: 187 units combined, summed by us from the three reported counts. Vintage is mixed and only loosely described — one community is more recently constructed and the other two were built around the 1990s, per the report, so we record no construction year rather than assign one. The buyer profile is the part worth noting for anyone tracking who is actually transacting in upstate markets. Cougar made its first purchase in 2023 and has assembled 28 communities and more than 2,000 units since, with more in the pipeline. That is a roughly three-year build to institutional scale, executed largely in secondary Northeast markets that the large REITs have not been bidding up, and it is a reminder that the aggregation happening in this cycle is not all coming from the names in the trade headlines. No purchase price, seller or broker was disclosed, so there is no per-unit figure to compute and none should be inferred. Individual community names and street addresses were not published and we do not guess them.

Lakewood Reserve, a 137-unit community split 118 assisted living and 19 memory care across 112,516 square feet, sold to Janus Living after drawing what the report describes as strong interest from institutional investors. The renovation arithmetic is the reason to read this one. The building dates to 1999, but it took a substantial renovation in 2024 plus further improvements, and the report is specific about the mechanism: as each unit reopened it commanded a higher rent, steadily improving the community's margin. That is a unit-turn repricing story rather than a lease-up story, and it is the cleanest version of the argument that vintage alone does not set value on this product — a late-1990s shell in a strong infill submarket can be re-rated one apartment at a time without adding a single unit of supply. Occupancy was reported only as being in the high-80s at the time of sale; because that is a range rather than a published figure we record no occupancy number and leave the description here. Price and seller were not disclosed, so there is no per-unit figure to compute and none should be inferred. The trade report placed the community in Denver, Colorado, which is the metro rather than the municipality — it sits in Lakewood, immediately west of Denver and adjacent to the Belmar district. The street address is not from the transaction report: we sourced 555 S Pierce St from the operator's own community listing and independent property records, and it should be treated as the property identifier rather than a reported deal term.

Eight communities across six states — Massachusetts, Connecticut, New Jersey, Pennsylvania, Delaware and Georgia — totaling 867 units for $696 million, or roughly $802,768 per unit computed by us from the two reported figures. No per-unit price was published. The structure is the part to study. AHR actually put ten communities under contract and then assigned the purchase and sale agreements on two of them to another institutional investor. Chairman and CEO Jeff Hanson: 'We understood that only a solution for all 10 communities would clear the market. Rather than either walking away from a highly strategic opportunity or compromising our capital allocation discipline to secure it, we constructed a solution that required neither.' There were multiple sellers, none named, but all eight properties were marketed together — an all-or-nothing package that a single balance sheet did not have to swallow whole. The real estate is new: every property was built between 2020 and 2022, so this is not a value-add basis and there is no vintage discount embedded in the price. Locations skew to wealthy Northeast suburbs — Philadelphia's Main Line, Westport in Connecticut, suburban Boston, plus The Lodge at Historic Lewes in Delaware and The Holbrook of Sugar Hill in metro Atlanta. LCB Senior Living developed and managed five of the communities and picked up two more Northeast properties post-closing; Holbrook Life manages Sugar Hill. Care-type breakdown, occupancy, individual prices and street addresses were not reported. This lands the same week AHR closed $572 million of the Kensington Senior Living portfolio, and the two together are the same strategy at two different price points.

UPDATED Sept. 22, 2026: the sell-side broker is now established. Evans Senior Investments reported completing the sale of a four-property, 453-unit portfolio for $200 million in which each community was purpose-built between 2015 and 2019, offering independent living, assisted living and memory care with an enhanced care component, and in which the buyer was a publicly traded healthcare REIT alongside a Minnesota-based operator with an established Twin Cities presence (Senior Housing News, Sept. 22, 2026). Those facts match this transaction on every reported dimension, so the broker field and the 2015-2019 vintage range are recorded here. The vintage range is the material addition: it converts LTC's own description of an approximately nine-year average asset age into a defined construction window, which is what a comp actually needs. Note also the enhanced care component, which ESI names and LTC's release did not — enhanced care in this context means acuity capacity above standard assisted living, and it is part of why recent-vintage Minnesota product supports the per-unit pricing below. We still do not record individual community names, cities or street addresses, because neither the buyer nor the broker published them. ORIGINAL ENTRY: Four communities, 453 units of independent living, assisted living and memory care, closed at $200 million — roughly $441,501 per unit computed from the two reported figures, as no per-unit was published. The number worth pausing on is how close that lands to LTC's other Minnesota purchase four weeks earlier: Boulder Ponds and Round Lake cleared $95 million on 215 units, or about $441,860 per unit. Two separate transactions, the same buyer, the same state, and per-unit pricing within roughly $360 of each other. That is a buyer with a settled view of what Twin Cities-area senior housing is worth rather than one bidding each deal on its own merits. Reported average asset age is nine years, so this is recent-vintage product, not a value-add basis. Structure matters here too: this is a SHOP acquisition, meaning LTC takes the operating economics rather than collecting a triple-net rent, with Lifespark Senior Living — already an LTC operating partner — assuming management. Seller, individual community names and street addresses were all undisclosed (the broker was disclosed three weeks later — see the update above). Funding was $167 million of proceeds from a Texas skilled nursing portfolio sale plus revolver draw, which is the recycling trade the REITs have been running all year: sell skilled nursing, buy private-pay seniors housing. LTC reports nearly $580 million closed year to date with another $120 million expected by the end of September.

CareTrust REIT acquired a large skilled nursing portfolio in the southwest for $400 million, effective September 1, 2026, per the company's own release. The portfolio carries 2,622 licensed skilled nursing beds, which works out to $152,555 per bed — computed here by dividing the reported price by the reported bed count, not published by CareTrust. The SeniorCare Investor reported the figure as $152,600, a rounding of the same arithmetic; we carry the unrounded number. This is the single largest print on our tape and it deserves to be read carefully, because almost everything that would make it a usable comparable was withheld. CareTrust did not name the operator, did not name the states, did not say how many facilities are in the portfolio, and did not disclose the price allocation across them. "The southwest" is the entire geographic disclosure, so no address is recorded and the state code here is a filter bucket rather than a located fact. What CareTrust did disclose is the economics, and those are the useful part. The assets are triple-net leased back to the existing operator under a long-term lease with annual inflation-based rent escalators and multiple renewal options, and the company expects a stabilized yield of approximately 8.6 percent. The deal was sourced off-market — no broker was involved and none is recorded — in markets where CareTrust says both it and the operator already have established scale and deep operating history. Read that as a re-trade with a known counterparty rather than a competitive process, which is also why no marketed pricing signal should be inferred from it. The structure matters too: this closed through a joint venture in which CareTrust invested roughly $380 million of the $400 million, so CareTrust does not own 100 percent of the real estate and the $400 million is the portfolio price rather than CareTrust's check. Context from the same release: the company has closed approximately $710 million of investments in the third quarter to date, including a small care home acquisition in the United Kingdom in mid-August, and its 2026 year-to-date investment total now stands at $1.9 billion across two dozen transactions at a blended stabilized yield of approximately 8.7 percent. It also announced a $600 million reloaded pipeline. Against our own tape, $152,555 per bed sits well above the $111,702 per bed paid on the two-facility St. Albans, Vermont exit reported a day earlier and above the $139,167 per bed of HUD debt Berkadia placed on a Plantation, Florida skilled nursing facility — a reminder that portfolio scale, an in-place operator and a triple-net structure price very differently from a single rural asset changing hands.

A 346-unit continuing care retirement community in Fort Wayne transferred from Lutheran Life Villages, a not-for-profit faith-based sponsor, to Casa Consulting, an Indiana operator of senior living and skilled nursing communities. Ziegler ran the sell side. The transaction closed September 1. This is the sponsor-transition pattern rather than a distress pattern: a mission-driven owner concluding that a single large campus is better held by a regional operator with density in the state, which is a different seller motivation from a lender-driven or court-driven sale and generally produces a different process and a different buyer pool. Price was not disclosed in the advisor's release, so no per-unit is recorded. Street address, unit mix across independent living, assisted living and skilled nursing, construction year and occupancy were all absent from the release and are not estimated here.

A tranche close rather than a standalone deal: PACS closed on 11 skilled nursing facilities owned and operated by Eduro, on top of 20 that closed the prior month, bringing the previously announced program to 31 of 34 acquisitions complete. The reporting attaches 3,633 beds to that 31-of-34 progress figure without breaking out how many belong to this particular 11-facility tranche, so no bed count is recorded against this entry and no per-bed is computed. No price was disclosed for the tranche or the program. The portfolio-level effect is the part that is clearly stated: the closings take PACS to 355 buildings and into three new states — New Mexico, North Dakota and South Dakota. Tranche-by-tranche closings on a multi-facility program are normal where each licence transfers on its own regulatory clock, and the three still outstanding are most likely waiting on exactly that.

Five-property Virginia portfolio totaling 159 units and licensed for 267 beds — the gap between those two figures is the shape of the asset rather than a reporting error. Licensed capacity runs roughly 1.7x the unit count, so a meaningful share of these are semi-private or companion rooms. That matters to anyone underwriting revenue per unit versus revenue per licensed bed, because the second number is the one that moves if an operator elects to fill to license. Individual property names, street addresses and the purchase price were all undisclosed, so no per-unit is computed and no address is recorded. Neither party was named beyond geography and profile: a local Shenandoah Valley owner-operator selling to a New Jersey buyer already operating in multiple states. A regional seller exiting to an out-of-state consolidator is the pattern worth tracking in secondary Virginia markets.

Two Virginia assisted living facilities sold as a package — 55 units against 67 licensed beds, the same license-exceeds-units structure seen in the larger Shenandoah portfolio that traded the same week. Both parties are New York-based and neither was named; the release described the seller only as a senior living private equity and operating group and the buyer as an operator running both skilled nursing and assisted living. That combination is the notable part: a private-equity holder exiting Virginia assisted living to a strategic operator with skilled nursing already in its book, which usually signals a buyer underwriting clinical capability rather than real estate alone. No price, no property names, no cities and no addresses were reported, so none are recorded here.

178-unit independent living, assisted living and memory care community in Bedford, in the middle of the Dallas-Fort Worth metroplex, built in 2018. Price undisclosed, so no per-unit is computed. The buyer description is the interesting part and we have left it exactly as reported rather than guessing a name: Berkadia said only that the purchaser is an S&P 500 company focused on seniors housing, which narrows the field to a small number of listed REITs but does not identify one, and we will not put a name on a deal the broker deliberately did not name. The seller side is a developer-plus-fund joint venture exiting a 2018 vintage asset at roughly seven years old — the same hold-period pattern visible elsewhere on this wire, where merchant-build capital rotates out once a community is stabilized and a listed buyer takes the stabilized cash flow. Street address confirmed from the operator's own community page (heartis.com/locations/mid-cities), which lists 2308 Highway 121; at least one third-party listing aggregator publishes 2312 Highway 121 for the same community, and we have used the operator's own figure.

66-unit entrance-fee independent living community outside Buffalo, built in 2001 with additional construction through 2017. The campus is an unusual shape: 12 residential buildings comprising one congregate facility of 44 units plus 11 duplexes holding 22 cottage-style units. Occupancy was reported at 63.5% when the property was taken to market in summer 2025, with the duplex units fully occupied — we have left the occupancy field null rather than record a figure roughly a year stale as though it were the number at close. Price undisclosed, so no per-unit is computed. Neither buyer nor seller was named; the seller was described only as a faith-based not-for-profit operating in that part of the state. Street address confirmed against the community's own site (vinecroft.org) rather than taken from the release, which gave none. The entrance-fee structure matters here — a value-add buyer taking a 63.5%-occupied entrance-fee community is underwriting refundable-deposit liabilities as well as census.

49-unit assisted living and memory care community in rural Cozad, Nebraska, sold by the hospital that built it. Cozad Community Health System developed the property in 2006 and expanded and renovated it in 2019 to reach its current unit count. The reporting describes it as one of the strongest physical plants in its rural market, benefiting from limited competition. Price and buyer were both undisclosed. Two things make this worth logging beyond its size: it is a hospital exiting direct ownership of senior housing, the same seller archetype as the nonprofit and founder exits elsewhere on this wire; and the broker, Decker Healthcare Group, is a brand-new firm formed earlier this year by four brokers who left Helios Healthcare Advisors, so this sits among its first closed transactions. Address confirmed from the operator's own contact page (meadowlarkpointe.com), whose listed email runs on the cozadhealth.com domain — consistent with the reported hospital ownership.

PENDING — reported as being in the early stages, subject to state approval, and characterized by the seller as possibly completing before the end of the year. Twenty nursing homes and assisted living facilities spanning nine Maine counties, described in the reporting as more than 1,300 beds. We have left the bed count null rather than record 'more than 1,300' as a precise figure. Price, deal structure and post-closing plans were all undisclosed. This is the largest single change of long-term-care ownership in Maine we have seen reported this year, and the driver is succession rather than distress — First Atlantic's founders are preparing to fully retire. Six of the facilities are jointly run with Northern Light Health, some acquired within the last two years; Northern Light's spokesperson said the health system was 'heartened that First Atlantic has taken steps to preserve access to care.' Buyer Links Healthcare operates more than 32 facilities across California and Tennessee, was founded in 2017, and is an operating partner of CareTrust REIT (NYSE: CTRE), which acquired 10 of its facilities in late 2024 — so a REIT capital partner is plausible here but was not reported and we are not assuming it. Links facilities carry an average CMS Care Compare rating of 4.1 stars per the reporting. No address is given because this is a statewide portfolio and the individual facilities were not enumerated.

80-unit assisted living community in the Washington, D.C. MSA, adjacent to the UM Bowie Health Center, and another step in Brookdale's continuing program of divesting underperforming assets. Occupancy was reported as hovering around 65% at the time of sale — recorded here as 65 with that approximation stated rather than implied precision. The reporting frames the asset as a turnaround: room to improve census, resident rates and margin, with limited near-term capital needs. The structure is the part worth studying. The building sits on land owned by Prince George's County, leased to the neighboring hospital system, which in turn subleases to the property owner — a two-layer ground lease that the reporting says presented challenges in the sale. Price remains undisclosed, so no per-unit. Address confirmed against multiple independent community listings (14997 Health Center Drive, Bowie, MD 20716). UPDATED Sept. 1, 2026: the buyer is Cougar Capital, a regional investment firm reported to own more than 1,100 seniors housing units, and Blueprint has confirmed it brokered the sale. Willow Ridge Senior Living has assumed management (Senior Housing News, Sept. 1, 2026). A regional buyer with an existing 1,100-unit book taking on a two-layer ground-lease turnaround is a specific risk appetite worth noting.

80-unit Class-A assisted living and memory care community in East Texas, 91% occupied at sale, built in 2018 and sitting on 14 acres with room to expand. The reporting carries an unusual amount of operating detail for a wire item: a 27% operating margin on $3.835 million of revenues. That is the useful comparison on this wire — a stabilized, well-occupied 2018-vintage asset trading to a regional operator who is keeping management in place, set against the 63.5%-occupied nonprofit exit in New York and the 65%-occupied Brookdale divestiture in Maryland the same week. Price was not disclosed, so no per-unit figure is computed. Address confirmed from independent community listings (615 Whitehouse Drive, Lufkin, TX 75901); the release gave none.

125-bed skilled nursing facility sold to a New York-based investor in a confidential transaction — no price was published, so none is shown. The buyer was described only as New York-based and was not named; the seller was not named either, and the facility was that operator's only South Carolina location and a geographic outlier for the former ownership. Built in 1991 and dually certified for Medicare and Medicaid, it ran at full licensed capacity with a census reported as exceeding 90%, and took more than $2M in upgrades in 2022 covering resident rooms and bathrooms, the main dining room, lobby and therapy gym. The report says the sale drew multiple competitive offers from in-state and out-of-state bidders, was the buyer's first South Carolina acquisition, and set a market-clearing price for a standalone SNF in the state — but since the number itself is confidential, that last claim is not one we can verify. The close date was not published, so the date shown is the report date. Address and the 125-bed count confirmed against the CMS Nursing Home Provider Info dataset.

202-unit independent and assisted living community in suburban Atlanta, described by Berkadia as a top-performing, newly renovated asset. The buyer was identified only as an S&P 500 company focused on seniors housing and is not named here, because naming it would be a guess. Price undisclosed, so no per-unit figure is computed. Street address confirmed against multiple independent community listings (100 Whitlock Ave NW, Marietta, GA 30064, Cobb County) rather than taken from the release, which gave no address.

545 units across two communities — Sonrisa Senior Living in Roseville and The Watermark at Almaden in San Jose. JLL called it one of the largest senior housing portfolio sales in Northern California in recent years. Transaction amount was not available and the REIT buyer was not named, so neither price nor per-unit is shown. Address left null because this is a two-property portfolio; community listings place Sonrisa on Roseville Parkway and The Watermark on Almaden Expressway, but neither was published in the release and neither is asserted here.

Four-story, 225,000 sq ft full-continuum community — independent living, assisted living and memory care — on Morikami Park Road in Delray Beach. Price of $140 million taken from Palm Beach County property records provided by Vizzda; the deal recorded in the week before the August 24 report, so the exact closing date is not published. Per-unit of roughly $676,000 is computed here (140,000,000 / 207), not published by a broker. Published rates at the time of sale started at $6,390 for independent living, $5,920 for assisted living and $8,990 for memory care. Note one inconsistency in the source: Bisnow describes the asset as six years old while also stating it was built in 2023 — the specific year is used here and the discrepancy is flagged rather than resolved.

Seven-building, 318,000 sq ft campus offering independent living, assisted living, and memory and respite care. Carlyle sold for roughly $4 million LESS than it paid to acquire the property in 2013, per the South Florida Business Journal — a thirteen-year institutional hold that ended below nominal basis in the same week the sector printed record trade volume. Unit count was not reported, so no per-unit figure is computed.

Class A community on a five-acre, 124,010 sq ft campus in Lexington's Hamburg area — 100 assisted living units and 24 memory care units, 140 licensed beds, 95% occupied at the time of sale. Sits across from Baptist Health Hamburg Hospital. Renamed Cedarhurst of Hamburg effective July 15, which indicates the transaction closed before the August 21 trade report; the actual closing date was not published. Price undisclosed and the REIT partner was not named, so no per-unit figure is computed here.

Assisted living and memory care community acquired and rebranded The Bellflower at Whispering Ridge. Buyer and its investment partner plan roughly $1.3 million of capital improvements and will add independent living and 'assisted living plus' units. The acquisition brings Agemark's Omaha portfolio to five communities totaling more than 450 units — that 450 figure is the portfolio total, not this property's unit count, which was not reported. Price, seller, unit count, year built and street address were all undisclosed.

Sold by an independent owner-operator exiting the industry to a regional owner-operator expanding its Michigan footprint. Broker reported interest from qualified buyers across the country. Community name, address, parties and price all undisclosed.

Ten communities in Minnesota. Next Level Senior Living retained as manager of the portfolio following the acquisition. Price and unit count not disclosed.

Full continuum of care across more than 1,100 units. Monarch began assembling the portfolio in 2021 to capitalize on pandemic-era disruption and sold into the recovery. Buyers were a combination including a publicly traded REIT and a private equity firm; none were named. Unit count shown is the reported floor of "more than 1,100". Price not disclosed.

Capital Funding Group closed a $25.3 million bridge-to-HUD refinancing on a 146-unit independent and assisted living community in Port Orange, on Florida's east coast just south of Daytona Beach. The deal closed August 18 and was disclosed on September 16 inside a platform-level announcement. As with the Stockbridge entry above, the $25.3 million is the loan and not a price — this is a refinancing, there was no reported sale, and no per-unit valuation should be read out of it. Two things make it worth recording. First, the structure names the exit: bridge-to-HUD means the borrower is taking short-term balance-sheet debt now with the explicit intention of refinancing into a HUD-insured Section 232 loan once the operating history seasons enough to qualify. That is the single most common capital path in private-pay seniors housing right now, and the size of the bridge is a rough signal of what the sponsor expects HUD to support later. Second, the lender described this as a new client relationship with a borrower that owns a broader portfolio of senior living communities nationwide — a first-time borrower of that profile choosing a bridge-to-HUD execution is a useful read on where mid-size owners think permanent debt is actually available. For context on the lender rather than the asset, CFG reported more than $413 million across 24 transactions from late June through late August, covering 54 skilled nursing and assisted living communities in 13 states, after announcing more than $1.8 billion in the first half of the year. The community name, street address, borrower, construction year, occupancy and loan terms were not disclosed and none are estimated here.

Sold on behalf of an institutional owner exiting Michigan. Welltower partnered with an operator entering the Michigan market for the first time. Broker identified roughly $990,000 in potential annual revenue gains through Medicaid, Medicare Part A and Part B rate optimization, plus hospital referral and managed-care upside. Facility names, addresses and price not disclosed.

Seller was an independent owner who held the properties for more than four decades before exiting the senior care industry. Portfolio traded subject to the existing triple-net lease, with Genesis Healthcare remaining as operator. Buyer, facility names and price not disclosed.

Independent living, assisted living and memory care on a 17-acre campus. Buyer is a Michigan-based real estate investor taking over operations and, per the release, intends to expand the community's acuity mix. Price not disclosed.

Two communities built in 2014 and 2017, sold on behalf of a national senior living owner-operator and awarded to a regional owner-operator with an existing Ohio footprint. Neither party named; price not disclosed.

70 assisted living units and 24 memory care residences, licensed for 100 residents, in a 49,000-square-foot building roughly 50 miles north of San Francisco. Clearwater Living continues to manage on behalf of Clarion Partners. Seller and sale price not disclosed.

Capital Funding Group closed an $11.9 million HUD Section 232/223(f) refinancing on a 149-bed skilled nursing facility in Augusta. The $11.9 million is the loan, not a price — there was no reported sale and no per-bed valuation should be read out of it. What makes this one worth recording is the workout mechanics the lender disclosed, which are rarely put on the record. CFG had originally financed this property's acquisition alongside a second Augusta asset in 2023. Once performance improved, the lender cross-collateralized a third, underperforming property against the two healthy Augusta facilities to resolve borrower debt, then released that third property free and clear when the Augusta pair could stand on their own. That is a full cycle of a distressed-adjacent structure ending cleanly, and it is a useful template for any owner carrying one weak asset inside an otherwise sound portfolio: the strong properties can be used to carry the weak one through a repair period without a forced sale, provided the lender will underwrite the group. The borrower, street address, construction year, occupancy and loan terms were not disclosed and none are estimated here.

PARTIALLY CLOSED as of Sept. 1, 2026 — AHR has closed on SIX of the eight communities, 464 of the 745 units, for $572 million (Senior Housing News, Sept. 1, 2026). That works out to roughly $1.233 million per unit on the closed tranche, computed by us from the two reported figures, against $1.172 million per unit implied across the full eight-community $873 million agreement. The remaining two communities are subject to definitive purchase agreements and are expected to close in the fourth quarter; this entry stays flagged pending until they do. The seller is Kensington Senior Living, which was not named in the original August announcement and is confirmed in the September reporting. Kensington stays on as manager. 93% of the units are designated assisted living and memory care, across the Los Angeles, San Francisco Bay Area, Washington, D.C. and New York metros in what AHR calls affluent, supply-constrained infill submarkets. Purchase price includes $56.5 million of Kensington's existing agency debt. Six of the eight opened in 2015 or later; Kensington developed seven. Worth recording for process reasons as much as pricing: AHR says the deal came through 'limited-channel marketing' rather than a broad market process, and Kensington founding managing partner Dave Faeder stated plainly that AHR 'were not the highest bidder' and that the objective 'was not simply to maximize price.' AHR reports $2 billion of new investments in 2026 with a further $675 million planned this year.

PENDING — definitive agreement only, expected to close in Q4 2026. Seller undisclosed.

192-unit independent living, assisted living and memory care community on a four-acre site in the Brookside area of Kansas City, at 68th and Troost. The asset is an adaptive reuse rather than a ground-up build: the original Highland Tower medical office building was stripped to its steel and concrete frame beginning in 2019, with the tower delivered as independent living and a separate assisted living and memory care building completed in 2020. Price and seller were both undisclosed. What makes this one worth logging is the census history — the reporting describes a challenging post-COVID lease-up, with a regional operator brought in during March 2024 specifically to accelerate occupancy growth, and American House now taking over operations. That is a lease-up recovery trade on a five-year-old conversion, not a stabilized purchase, and it should not be read as a comp for a stabilized Class A community of the same unit count. Occupancy at close was not published, so the field is left null. Street address is from third-party community listings rather than the release, which gave none; the cross-street reference in the reporting is consistent with it.

Independent living, assisted living and memory care across two Class A communities: Boulder Ponds at 192 Jade Trail N in Lake Elmo, 95 units, completed 2020 and running approximately 98% occupancy; and Round Lake at 1740 Parkshore Dr in Arden Hills, 121 units, opened 2023. Lifespark Senior Living continues as operator. LTC reported a 7.4% cap rate and an anticipated unlevered IRR in the low- to mid-teens, funded from ATM equity proceeds. Note a unit-count discrepancy in the public record: buyer LTC states 215 units in aggregate while broker JLL's per-community figures sum to 216. We use the buyer's 215 for the per-unit math and report both rather than pick one — at 216 units the figure would be $439,815. JLL described Boulder Ponds as the highest price-per-unit senior housing trade in Minnesota. No single street address is shown because this is a two-property portfolio.

All-cash. 611 units / 701 beds, developed 2018-2022. Claiborne Senior Living retained as operator.

Capital Funding Group closed a $9.3 million bridge loan supporting the acquisition of an 83-unit assisted living community in Yakima, in south-central Washington. The $9.3 million is acquisition financing rather than the purchase price, so no per-unit valuation is shown — a bridge loan is typically sized well below the price, and reading $112,000 a unit out of it would be wrong. The detail worth keeping is that CFG described the borrower as an existing client. Repeat-borrower bridge execution on a secondary-market assisted living asset is a reasonable read on where balance-sheet lenders are still comfortable: not the primary metros, but established operators they already know, in markets with limited new supply. Yakima is a small, relatively isolated trade area, which cuts both ways — thin competition, but a shallow buyer pool at exit. The community name, street address, purchase price, seller, construction year and occupancy were not disclosed and none are estimated here.

Capital Funding Group closed an $8.9 million bridge loan refinancing a 62-unit, 101-bed assisted living community in Margate, in Broward County. The $8.9 million is the loan and not a price; this was a refinancing, not a sale. The unit-to-bed spread is the number to notice — 62 units carrying 101 licensed beds means the community is running a substantially shared-occupancy model, roughly 1.6 beds per unit. That materially changes how the asset should be underwritten against a private-pay comparable quoted per unit, because revenue scales with beds filled while the physical plant and much of the fixed cost scale with units. Anyone benchmarking a semi-private Florida assisted living asset against per-unit pricing from a private-room market is comparing two different businesses. CFG noted this was a new client relationship. The community name, street address, borrower, construction year, occupancy and loan terms were not disclosed and none are estimated here.

Affordable age-restricted senior apartments for residents 62+. Not licensed care.

Off-market. 212 assisted living and memory care units across two communities; price approximately $65 million inclusive of transaction costs. Entering CareTrust's senior housing operating portfolio, managed by an existing operator relationship in the market. CareTrust described both as opened within the past ten years but gave no year built, and did not name the communities, cities or seller. Announced alongside a separate 16-property UK care home portfolio, which is excluded here as non-US.

Capital Funding Group closed a $3.9 million HUD loan refinancing a CFG-originated acquisition loan on a 30-unit, 40-bed assisted living community in St. Cloud, in Osceola County south of Orlando. The $3.9 million is the loan, not a price. This is the smallest deal in CFG's late-summer disclosure and the most instructive one for private owners, because the lender flagged it as the borrower's first HUD loan. That is the full bridge-to-HUD arc completed at genuinely small scale: CFG financed the acquisition, the operator seasoned the property long enough to qualify, and the debt then moved into HUD's insured program at permanent terms. Owners of 30-to-50-unit assisted living assets routinely assume HUD execution is reserved for institutional portfolios; a 30-unit community completing a first HUD refinancing says otherwise. The community name, street address, borrower, construction year, occupancy and loan terms were not disclosed and none are estimated here.

Age-restricted senior apartments, not licensed care — per-unit pricing is not comparable to assisted living. Site includes land approved for 15 more units.

101-unit assisted living and memory care community in Oro Valley, north of Tucson, built in 2018. Steller Senior Living is rebranding the property as The Ironwood at Oro Valley. The close date was not published, so the date shown is the report date. The per-unit figure is computed by us from the reported $23M price and 101 units, not published by a broker. No brokerage was named in the report.

202-bed skilled nursing facility in northwest Houston sold out of a court-approved bankruptcy sale, clearing the debt held by the secured creditor. The process opened with a $12.25M stalking horse bid approved by the U.S. Bankruptcy Court; two additional qualified bidders competed through multiple rounds and drove the final price to $15M, roughly a 22% premium to the opening bid. That spread is the useful datapoint here — a competitive auction on a distressed SNF cleared well above the stalking horse. 91 of the 202 beds were dually certified for Medicare and Medicaid at the time of sale, and the payer mix skewed Medicaid because a newer nearby facility had taken much of the local Medicare census. The facility sat on CMS's Special Focus Facility Candidate List and carried an on-site dialysis unit and ventilator-capable infrastructure the outgoing operator was not using. Neither buyer nor seller was named. The per-bed figure is computed by us from the $15M price and 202 beds; the report cited approximately $74,300. Address and the 202-bed count independently confirmed against the CMS Nursing Home Provider Info dataset, which also lists the SFF Candidate status.

126-bed skilled nursing facility in Socorro, in the El Paso metro. Ensign acquired both the real estate and the operations effective July 1, 2026, with the real estate held by subsidiaries of Standard Bearer Healthcare REIT, Ensign's captive real estate company. Ensign does not publish purchase prices on individual facility acquisitions, so price and per-bed are left blank rather than estimated; the seller was not named. Structure is the useful datapoint: the captive-REIT-plus-affiliated-operator model lets Ensign underwrite an operations turnaround while keeping the fee interest in-house, and it is the pattern behind most of the roughly forty facilities they have taken on this year. The 126-bed count and the street address were independently confirmed against the CMS Nursing Home Provider Info dataset, which lists the facility at 10064 Alameda Avenue, Socorro, TX 79927.

124-bed skilled nursing facility in far north El Paso, acquired in the same transaction as Las Ventanas de Socorro above and effective the same day. Real estate to Standard Bearer Healthcare REIT, operations to an Ensign-affiliated tenant. No price was published and none is estimated here; the seller was not named. Taken together the two facilities added 250 licensed beds and brought Ensign to 398 healthcare operations across 17 states, including 48 senior living operations, with 183 owned real estate assets. Two facilities in one metro bought on one effective date is a cluster play, not two separate bets — shared staffing pools, shared regional management and shared referral relationships are the economics. The 124-bed count and the address were independently confirmed against the CMS Nursing Home Provider Info dataset, which lists the facility at 11169 Sean Haggerty, El Paso, TX 79934.

69 units in Albuquerque, 64 in Wheat Ridge. Part of Harbert's five-community, $455M disposition.

Three separate transactions closing same day. Includes the two MorningStar assets listed separately above — do not double count.

32 skilled nursing facilities and 3 independent living facilities. Confirmed closed on NHI's Q2 earnings call. Bed count not reported.

61,116 sq ft on 2.84 acres. Assisted living plus memory care, rehabilitation and skilled nursing. Broker represented both sides.

232-bed assisted living community in central Tucson, built in 1998. Useful as an Arizona pricing datapoint: at roughly $224,000 a bed it cleared within about $3,600 of the 2018-built Oro Valley community above, despite twenty years of vintage difference. The close date was not published, so the date shown is the report date. The per-bed figure is computed by us from the reported $52M price and 232 beds.

Three-story community on 4.4 acres, roughly 30 minutes north of downtown Seattle; extensively renovated over the last decade including a full exterior rehabilitation. Leisure Care retained as manager. Price not disclosed. Note on unit count: the release headlines 182 units but its own breakdown reads 124 independent living and 182 assisted living, which do not reconcile — we carry the headline 182 rather than resolve the discrepancy.

Assisted living and memory care. Added to LTC's SHOP portfolio; MorningStar retained as operator.

101 beds in Abbeville, 100 in Eastman. Transfer confirmed by updated CMS operator records.

553 independent living units, 261 personal care units, 244 skilled nursing beds. Built 1959-2007.

PENDING — purchase agreements signed May 2026, not closed. Pinnacle North Bethesda is still under construction with a scheduled October 2026 opening.

Reported as a record price per bed for a Wyoming skilled nursing sale, at 61% occupancy. Buyer described as a REIT partnering with a regional operator.

60 independent living, 56 assisted living and 40 memory care units in a southwest Chicago suburb, one mile from Northwestern Medical Center. 94% occupied at closing. LCS Community Operations retained as manager. Price not disclosed.

Two-community memory care trade in the Bay Area. Unit count not reported.

Six assisted living and memory care communities totaling 413 units across Kansas City, Blue Springs and Raymore, Missouri, and Olathe and Lenexa, Kansas. Purpose-built between 2015 and 2019; over 90% occupied at closing (we record 90 as the reported floor). Buyer and price not disclosed.

Approximately 146,000 sq ft. Price per NYC property records.

Licensed for 160 skilled nursing beds plus 23 assisted living units. Price per bed computed on the skilled nursing beds only.

81,562 sq ft on 16 acres, expanded 1985 and 1994. Now operating as Timber Ridge Health and Rehabilitation.

Assisted living and memory care. Portfolio surpassed 90% occupancy in recent years.

Buyer and seller both withheld. Specific licensure not reported.

Acquired by an institutional buyer as part of a multi-asset seniors housing portfolio.

Welltower acquired the asset in 2004 for $2.5M; most recent assessment $13.5M.

Traded same day as Lakeside; $82.4M combined. Welltower basis from 2003 was $11.9M.