Phorcys Capital Partners acquired a stabilized seniors housing community in Clermont, Florida, through Phorcys Senior Housing Recovery Fund LP. Built in 2002 and expanded in 2014, Hunt Trace Senior Living sits on six acres and features 114 assisted living and memory care units. Impact Senior Living will operate the community. The community was part of a portfolio financed by municipal bonds, which fell into default during the pandemic. The asset was acquired through a court-appointed receivership sale at an attractive basis.
Phorcys plans to invest approximately $1.5 million in the community over the next year to modernize the plant. Phorcys’ seniors housing platform has now invested over $125 million in the sector. The company anticipates additional seniors housing acquisitions this year.
Christopher Utz of Ziegler handled the transaction, and financing was secured by Ryann Inselman and Debbie Blacklock of Stride Bank.
