Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%, and was operating at a good margin, particularly for a small, higher acuity community. It was developed by Marquee Capital and has been operated by BrightStar Senior Living since opening.
Community First Solutions, a leading not-for-profit healthcare organization, acquired the community (which will be rebranded as The Cottage of Mason), further establishing its presence in Ohio and marking its fourth expansion in less than two years. The community would provide complementary services to Community First’s existing campus located nearby. Community First had purchased another seniors housing property in Mason in 2023. Built in 2017, Anthology of Mason has 68 assisted living and 33 memory care units and was rebranded as Montage Mason. Community First also purchased HarborChase of Beavercreek in Beavercreek, Ohio (Dayton MSA), in 2024. That community has 64 assisted living and 46 memory care units, and was rebranded as The Patterson.
The purchase price for the BrightStar community was around $225,000 per unit, with a cap rate near 7% based on trailing financials. Community First is funding the purchase with tax-exempt financing. Nick Glaisner handled the transaction.
