Focus Healthcare Partners Acquires Senior Portfolio for $165M

Walker & Dunlop arranged the sale of four properties and arranged three Freddie Mac loans for the buyer.
The Mansions at Gwinnett Park. Image courtesy of Walker & Dunlop

Focus Senior Housing Fund I LP, an investment fund managed by an affiliate of Focus Healthcare Partners LLC, has acquired a Class A, four-community independent living portfolio for $164.5 million. The properties, all located in the Atlanta area, were sold by Mansions Senior Living and total 559 units. Known as The Mansions Portfolio, the communities are located within 30 miles of one another.

The assets were constructed between 2016 and 2020. Amenities include fitness centers, landscaped grounds, in-unit washers and dryers, easy to navigate floorplans and restaurant-style dining rooms in some of the properties.

Walker & Dunlop’s Investment Sales team, comprised of Managing Directors Joshua Jandris, Mark Myers and Brett Gardner and Senior Director Jordyn Berger, provided advisory services and handled the disposition of the portfolio. Director Russell Dey, a member of the Walker & Dunlop Senior Housing Finance team, arranged three loans through Freddie Mac. Details on the loans were not released but Walker & Dunlop stated the team was able to help its client achieve targeted loan proceeds despite challenges presented by the pandemic. At the time of the sale, the properties had excellent occupancy and high profit margins, according to Walker & Dunlop.

Jandris said in a prepared statement the transaction exemplified the benefits of collaboration among Walker & Dunlop’s platforms. He said Walker & Dunlop has a longstanding relationship with both the buyer and seller and has completed seven transactions for them or their partners.

In December, Dey and colleague Jay Thomas, a Walker & Dunlop senior managing director, secured $86 million in Freddie Mac financing for two senior housing properties in California and Hawaii. The transactions consisted of a $45 million loan for EWS Real Estate Investment Co.’s Palo Alto, Calif., property and $41 million in financing for the MW Group and its community in Honolulu, the Plaza at Moanalua.

Focus on Healthcare

Focus Healthcare Partners is a Chicago-based real estate investment and asset management firm that invests in senior housing and healthcare assets on behalf of institutional investors and private investors. In October, Focus sold King City Senior Village, a 114-unit senior housing community in the Portland, Ore., suburb of King City, Ore., to Livingston Street Capital. The independent living community is situated on 3.7 acres and consists of duplex cottages and apartment homes completed in 1986 that were significantly renovated in 2018.