■ LCB Senior Living LLC reportedly paid a record price when it recently acquired the 50-unit, 83-bed Arbors of Bedford assisted living community in Bedford, N.H., from Merrimack Health Group, according to The Senior Care Investor newsletter. The $35 million purchase price works out to $700,000 per unit and $422,000 per bed. Cushman and Wakefield’s Senior Housing Capital Markets Group arranged JV equity and acquisition financing. Equity was provided by Grosvenor Fund Management and debt came from Bank of America, the newsletter reports. Norwood, Mass.-based LCB is a recently launched developer/operator and third-party manager of senior housing communities, consisting of the former management team of Newton Senior Living, which was the nation’s 16th largest senior housing operator when it was acquired by Lazard Freres in 2005. LCB operates two other Greater Boston assisted living communities; the Bedford deal was its first acquisition.
■ Tryko Partners LLC announced March 11 that it has acquired the two-story, 97-bed New Eastwood Care & Rehabilitation Center in Easton, Pa., for $6.3 million. The seller was Signature HealthCARE. Tryko, a Brick, N.J.-based private equity real estate investment group, plans to invest another $500,000 in capital improvements. The Private Bank, Chicago, provided financing. Twenty-three-year-old Tryko, perhaps better known for its 5,000-unit multi-family properties, has been expanding into the skilled nursing sector in recent years.
■ Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced March 11 that it will provide up to $7.2 million in equity to an affiliate of Meridian Realty Advisors LP for the construction of a 141-bed skilled nursing facility and a 52-unit memory care facility in Austin, Texas, dubbed the Bee Cave Preferred Equity Investments. Irvine, Calif.-based Sabra has an option to acquire the properties, in which case Meridian would lease the facilities under a long-term, triple-net lease. With the Bee Cave deal, Sabra says its portfolio includes 119 assets, almost entirely senior living properties held for investment and leased to operators/tenants.
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