Owner/operator Inspirit Senior Living and investment/asset management firm Venue Capital co-sponsored a joint venture with Drake Real Estate Partners to acquire a seniors housing community in Lecanto, Florida. Immediately after the deal, the three parties are also planning a substantial renovation and rebranding of the property. Built in 1988, the community consists of 79 assisted living and memory care units. Welltower previously owned the property, with Brookdale Senior Living operating it.
However, Inspirit will take over management going forward, bolstering its presence in the Southeast. In early 2020, Inspirit and Venue Capital also acquired a portfolio of four seniors housing communities in the Southeast, including three on the west coast of Florida and one in Greenville, South Carolina.
