Park Ridge senior complex trades for $54M

The buyer has stakes in a number of other senior housing properties in the area

TRD CHICAGO /
Oct.October 25, 2018 02:00 PM

Interior shot of the complex (Credit: iStock)

Focus Healthcare Partners bought a Park Ridge senior housing complex for $54 million.

The Chicago-based firm bought the Summit of Uptown complex at 10 North Summit Avenue from Washington, D.C.-based Capitol Seniors Housing with help from $36.5 million in financing from commercial brokerage HFF.

Focus has stakes in eight senior housing properties nationwide, including locations in Tinley Park and New Lenox in the southwest suburbs, according to its website.

The Summit of Uptown property offers independent living, assisted living and dementia care services. It is operated by the Arbor Company.

Not far away in suburban Niles, Apollo Global Management earlier this month bought a senior independent living center for $33.6 million from HCP.

The two sales show continued investor interest in a sector where new developments continue to come into the pipeline.

Artis Senior Living is building a 136-unit assisted-living and memory care facility in the city’s Lakeview neighborhood, and Evergreen Real Estate Group is developing a 193-unit senior housing project in the old Ravenswood Hospital.


Related Articles

arrow_forward_ios
Liberty Mutual at 27201 Bella Vista in Warrenville (Google Maps)

Chicago’s Q3 suburban office market hits highest vacancy in decade

Chicago’s Q3 suburban office market hits highest vacancy in decade
Mayor Lori Lightfoot (Getty, iStock)

Lightfoot to propose $94M property tax hike

Lightfoot to propose $94M property tax hike
Brian Whiting, CEO of Telos Group, and the Old Post Office (Credit: Google Maps)

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world
Cars.com CEO Alex Vetter and the building (Credit: Google Maps)

Cars.com wants to shrink its space at West Loop HQ

Cars.com wants to shrink its space at West Loop HQ
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Thor’s Palmer House hit with $300M+ foreclosure suit

Thor’s Palmer House hit with $300M+ foreclosure suit
Cook County Assessor Fritz Kaegi and downtown Evanston

Cook County landlords get bad news about 2020 taxes

Cook County landlords get bad news about 2020 taxes
Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
Ald. Walter Burnett (27th)

Alderman Burnett to lift ban on resi development in Fulton Market

Alderman Burnett to lift ban on resi development in Fulton Market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...