Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., acquired The Summit of Winter Garden, a 113-unit senior living community in Winter Garden, Florida (Orlando MSA). Opened in June 2017, the community features 69 independent living and 44 assisted living units.
Grace Management will take over management, but they are jumping into a strong operation, as occupancy rose from 92% at the time of the sale to 95% as of May 2022. Additional details were not disclosed, but CPF plans to make investments in the campus.
This is the first seniors housing acquisition of the year for CPF, which announced three deals in 2021 and just two in 2020. That follows six and five announced acquisitions in the two prior years, respectively.
