Áegis Living has sold part of its stake in three senior housing properties in suburban Seattle and Northern California to its joint venture partner Blue Moon Capital Partners. No financial terms were disclosed. Holliday Fenoglio Fowler LP represented the seller on the transaction.
Correction: An earlier version of this news report and headline misstated that Blue Moon and Aegis Living sold three housing properties in suburban Seattle and Northern California. That was incorrect. Aegis sold part of its stake in the properties to Blue Moon.
DALLAS–(BUSINESS WIRE)–Holliday Fenoglio Fowler, L.P. (“HFF”) announces the sale and financing of three Class A seniors housing properties totaling 253 units in suburban Seattle and Northern California.
The HFF team marketed the property exclusively on behalf of the seller, Áegis Living. A joint venture of Blue Moon Capital Partners and Áegis Living affiliates purchased the properties free and clear of existing financing. Additionally, HFF’s debt placement team worked on behalf of the new owner to secure fixed-rate agency financing to fund the acquisition.
The portfolio offers a blend of assisted living and memory care units within properties that feature best-in-class finishes and have a combined average occupancy of nearly 95 percent. The two Seattle-area properties in the portfolio are Áegis of Bellevue at 148 102nd Avenue SE in Bellevue, which consists of 68 assisted living and 18 memory care units, and Áegis Lodge of Kirkland at 12629 116th Avenue NE in Kirkland, which consists of 70 assisted living and 17 memory care units. The Northern California property, Áegis of Aptos, is located at 125 Heather Terrace in Aptos, which is an oceanside community approximately eight miles east of Santa Cruz and less than 40 miles south of San Jose.
The HFF investment advisory team representing the seller included senior director David Fasano, senior managing directors Ryan Maconachy and Chad Lavender and senior director Ross Sanders along with managing director Mark Wintner and director Christopher Ross.
HFF’s debt placement team representing the borrower was led by director Sarah Anderson.
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
About Áegis Living
Áegis Living is a national leader in assisted living and memory care. The privately-held company founded in 1997 is headquartered in Bellevue, Washington, and operates 30 communities in Washington, California and Nevada. Follow the company on Twitter @Áegisliving and Facebook at http://www.facebook.com/ÁegisLiving. Visit the company website at www.Áegisliving.com.
About Blue Moon Capital Partners
Blue Moon, headquartered in Boston, Massachusetts, and co-founded by Kathryn Sweeney and Susan Barlow, is focused exclusively on the senior housing sector. Through a series of funds and a separate account, Blue Moon invests in development and recapitalization of new, purpose built, innovative senior housing communities in joint venture with leading senior housing developers and operators.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).