Investment firm Monarch Alternative Capital and national operator American House Senior Living Communities are joint venturing to pursue the acquisition, development and management of seniors housing communities across the United States. The two entities kicked off the venture with the recapitalization of seven properties that were partially owned by American House, with one of the properties acquired through a third party. The seven communities total 1,047 units throughout Florida, Michigan and Ohio, comprising 525 independent living, 356 assisted living and 166 memory care units. They average about five years in age and feature a number of updated residential amenities.
With their combined capital, sourcing capabilities and operating experience, Monarch and American House expect to focus on both development and opportunistic acquisitions in the seniors housing industry. We look forward to their ensuing announcements.
