29th Street Capital Enters Senior Living Market

There’s a new private equity investor in the senior living market. 29^th Street Capital, a firm focused on value-add purchases in the multifamily space, partnered with Knoxville, Tennessee-based developer/operator Solinity to make its first acquisition in the metro Atlanta area. The target was a 25-unit assisted living community in Norcross. Built 32 years ago, it is currently receiving renovations to its exterior, units and common areas to improve operations (and add value). 29^th Street and Solinity renamed the community under their new brand, Enrich Senior Living. Look for the partners to grow their holdings across the Southeast.