Senior Housing Consultants makes changes to their portfolio:
Over the last 4 years, Senior Housing Consultants worked with a local group of investors who purchased five assisted living and memory care communities in Minnesota, Iowa and Wisconsin.
Arbor Garden Place- Eyota, MN
Apple Creek Place- Appleton, WI
Harmony Place- Harmony, MN
Whispering Oak Place- Ellendale, MN
Garden View Place- Monona, IA
While under the asset management leadership of Jared Gevock, Vice President of Asset Management, and Mark Takes, Senior Consultant, these communities went through several necessary upgrades. A few of these upgrades included new emergency call systems, interior/exterior painting and floor replacement, as well as memory care expansions in two of the communities.
“The communities were staggered in purchase over the last four years. It has been very fulfilling to see the residents’ excitement as they enjoyed their new building enhancements. These enhancements also provide much needed new homes in the markets where expansions were added to the communities,” states Mark Takes, Senior Consultant.
Seth Phillips, Vice President of Acquisitions and Exits, led the facilitation of this exit/sale with a private equity group. “SHC was excited to offer these communities to the private equity group as they found the communities in good tertiary markets, with stabilized occupancy and cash flow, which was a perfect addition to their existing Senior Living portfolio. This was very exciting for our SHC group as this is one of our largest turnarounds in regard to number of units and overall unit price.”
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