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| Somerby Senior Living Complex. part of nine-property seniors housing complex |
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the sale and financing of a nine-property seniors housing portfolio
totaling 1,558 units across the southeastern United States.
The HFF team marketed the property on behalf of the seller,
Dominion Partners, acting on behalf of its affiliated
partner, Somerby Senior Living.
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| Sarah Anderson |
Bridge Investment
Group purchased the offering free and clear of existing debt.
Additionally, the team worked on the new owner’s behalf to advise on
acquisition financing.
The portfolio, which has an average weighted vintage of 2012, includes
seven stabilized assets averaging 94.3 percent occupancy and two assets in the
late stages of lease-up.
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| Ryan Maconachy |
All of the
communities are located in diversified, high-barrier-to-entry markets with a
unit mix that includes 134 independent living villas, 771 independent living
units, 393 assisted living units and 260 memory care units.
The HFF investment advisory team representing the seller included
senior managing directors Ryan Maconachy and Chad Lavender.
HFF’s debt placement team representing the new owner included director Sarah
Anderson.
Dominion Partners is headquartered in Birmingham, Alabama. The
principals of Dominion Partners have been actively involved in owning and developing
senior living communities for more than 20 years, consistently providing
upscale retirement living throughout the Southeast.
Bridge Seniors Housing Fund Manager LLC invests in seniors housing and
medical property assets across its family of funds, including seeking and
investing in joint ventures and separately managed accounts.
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| Chad Lavender |
Bridge
Seniors is among the largest owners of seniors housing units in the United
States, with $3.5 billion of assets under management as of Q3 2018 and owning
90 communities with over 10,600 units as of December 31, 2018.
These
facilities provide accommodations and extensive services to residents in our
seniors housing communities and seek to enliven their lives through state-of-the-art
dining, wellness, social and other programs.
Bridge Investment Group is a privately held real estate investment
management firm with $13.5 billion in assets under management.
Bridge
combines its 1,200-person, nationwide operating platform with specialized teams
of investment professionals focused on select U.S. real estate verticals, which
Bridge believes offer above-market opportunity: multifamily, office, seniors
housing, affordable housing and debt strategies.
CONTACTS:
RYAN MACONACHY
HFF Senior Managing Director
(214) 265-0880
CHAD LAVENDER
HFF Senior Managing Director
(214) 265-0880
SARAH ANDERSON
HFF Director
(214) 265-0880
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
1 comment:
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