Cardinal Sells 3 Virginia Senior Communities

Cardinal Senior Living has sold a three-property portfolio in Virginia, comprising 167 units and 295 licensed beds, to Viva Senior Living. The assisted living and memory care communities, located in Roanoke, Bedford and Danville, now operate under the Riverstone Senior Living brand. The Knapp-Stahler Group of Marcus & Millichap represented the buyer.

Viva Senior Living’s larger portfolio, spanning across the Northeast, Midwest, Southeast and Southwest, also includes senior independent living communities. The firm’s Virginia footprint also includes Viva Senior Living at Chesapeake, Viva Senior Living at Berryville, Viva Senior Living at Fredericksburg and Viva Senior Living at Stafford.

Three senior communities in Virginia

Located at 3585 Brambleton Ave., Riverstone Senior Living at Roanoke features assisted living studio and one-bedroom suites, as well as companion layouts. Floorplans range from 275 to 305 square feet.

Riverstone Senior Living at Bedford occupies 5 acres at 1350 Longwood Ave. The property includes private and semi-private assisted living and memory care apartments catering to dementia and Alzheimer’s patients.

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Also on 5 acres, Riverstone Senior Living Danville is at 432 Hermitage Drive and comprises private and companion units, with floorplans ranging from 275 to 597 square feet.

All three wheelchair-accessible facilities are close to medical centers. Amenities comprise beauty salons, arts & crafts centers and TV lounges, but also outdoor spaces. Services provided include nursing care, medication management, full-service dining, housekeeping and scheduled transportation, among others.

Marcus & Millichap’s Managing Director Investments Justin Knapp and Associate Director Joseph Knapp, alongside Senior Managing Director Brian Hosey, represented the seller and procured the buyer.