Ownership of a luxury senior living community in Marlboro, New Jersey flipped from one private equity firm to another. Developed by Capitol Seniors Housing and joint venture partners Formation Development Group and Shelbourne Capital several years ago, the 79-unit community features both assisted living and memory care services under the operation of Chelsea Senior Living. Already located in an affluent area of the county, the community is also near shopping and a number of amenities.
Kayne Anderson Real Estate Advisors stepped in as its buyer, retaining Chelsea Senior Living as the operator as well. Richard Swartz, Jay Wagner and Sam Dylag of Cushman & Wakefield handled the transaction, which did not disclose a purchase price.