Veritas Senior Living and Curis Capital joined forces to acquire a 107-unit senior living community in Herculaneum, Missouri (St. Louis MSA). Previously an Emeritus-owned community (before Emeritus sold it to Platinum Healthcare in 2009 and before the Emeritus-Brookdale blow-up), the 30-year old property currently features 81 assisted living and 26 independent living units.
The purchase price was not disclosed, but the property last sold for $3 million in 2009. We expect its value has risen since then. The buyers plan on adding an in-house therapy space in partnership with HealthPro.