HFF closes sale of 14-property, multi-state seniors housing portfolio

DALLAS, TX - May 7, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a 14-property seniors housing portfolio totaling 1,038  units located in California, Oklahoma, Ohio, Texas, West Virginia and North Carolina. 

HFF marketed the portfolio on behalf of the seller, a joint venture between private funds managed by Iron Point Partners, LLC and Meridian Senior Living, LLC (Meridian).  ROC Seniors Housing Fund Manager, LLC ("ROC Seniors") purchased the 14-property portfolio for an undisclosed amount.  In addition, ROC Seniors agreed to purchase an additional 46-unit asset located in Ohio that will close at a later date.  Meridian will continue to manage the properties. 

The portfolio is comprised of a mix of independent living, assisted living and memory care units.  Properties are located in Anaheim, Riverside, Culver City, Los Angeles, West Hills and Lompoc, California; Mustang and Oklahoma City, Oklahoma; Toledo, Ohio; Tomball, Texas; Elkins, West Virginia; and Fayetteville, North Carolina.

The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

Iron Point Partners, LLC ("Iron Point") manages a series of real estate private equity funds formed to invest in opportunistic real estate transactions.  The firm has raised more than $2 billion of equity capital through the Iron Point funds and maintains offices in Washington, D.C. and Dallas, Texas.  Iron Point invests across multiple value-oriented, and often counter-cyclical, investment themes, including senior housing and healthcare, mission critical data centers and distressed assets.

Meridian Senior Living, LLC ("Meridian") owns and operates senior housing facilities across the United States and China.  With more than 10,000 beds, Meridian is currently the fifth largest assisted living provider and the third largest memory care provider in the United States.  

ROC Seniors Housing Fund Manager, LLC ("ROC Seniors") is a fund manager for a family of private funds that focus on investments in seniors housing communities and medical office facilities, whose principals have more than 20 years of success in the seniors housing and medical office sectors.  Seniors Mgmt. is a subsidiary of Bridge Investment Group Partners, LLC ("Bridge-IGP"), a registered investment adviser.  Bridge-IGP and ROC Seniors are integrated investment advisers under the Investment Advisers Act of 1940.  Bridge-IGP and its affiliates employ approximately 1,000 people in 18 States, manage 35,000 apartment units, 2.4 million square feet of commercial office property, have approximately $3.1 billion of assets under management and manage an additional $400 million in real estate assets owned by affiliates.  Corporate headquarters is located in Salt Lake City, Utah.

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HF. HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas, North Carolina, Oklahoma and California licensed real estate broker. California Department of Real Estate, License Number 01385740.

 

 

HFF Managing Director

(214) 265-0880

rmaconachy@hfflp.com

 

HFF Director

(214) 265-0880

clavender@hfflp.com

 

HFF Associate Director, Marketing

(617) 338-0990

krmurphy@hfflp.com