Senior Housing Portfolio Trades for $30M
Colorado continues to show resilience for deals in this sector.
Bow River Capital has sold two 100 percent-private-pay senior housing communities in Colorado for $30 million. The Lodge at Greeley and The Lodge at Grand Junction total 140 units.
The Lodge at Greeley is a two-story, fully occupied community that was completed in 2020 and has 92 units. The property has 20 independent living, 48 assisted living and 24 memory care units within studio and one-bedroom layouts. The pet-friendly facility includes a beauty salon, library, fitness center, private event rooms and indoor and outdoor dining areas.
Located at 4430 24th St., The Lodge at Greeley is about 55 miles northeast of Denver and has a large senior housing population. More than 241,000 residents aged 65 and older are within a 20-minute drive.
The Lodge at Grand Junction is a 48-unit, 50-bed assisted living and memory care community. The two-story facility, completed in 2019, offers pet-friendly studio and one-bedroom layouts.
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Residents have access to a beauty salon, media room, therapy and exercise room, chapel and restaurant-style dining. The Lodge at Grand Junction is situated across from a major regional hospital and nearby other medical and retail developments. More than 151,000 residents aged 65 and older live within a 20-minute drive of the property.
As developers and investors work to meet the current and future needs in senior housing, amenities are requiring heightened focus. From landscaped outdoor green spaces to on-site movie theaters, the emphasis across the industry’s newest developments has been high-quality, activity- and wellness-focused amenities.
And the current and future senior housing needs are significant. JLL Capital Markets told Multi-Housing News that Colorado continues to prove a resilient region in the US for senior housing acquisitions.
“Factors such as increasing occupancy levels, solid rental rate growth and limited new supply seem to fuel continued acquisition interest among owners and operators,” a spokesperson said.
JLL’s Seniors Housing Capital Markets team represented Bow River Capital in the transaction and procured the buyer.
