Following a year in which it made 12 seniors housing acquisitions, Scottsdale, Arizona-based real estate investment fund and DST sponsor Inspired Healthcare Capital acquired an independent living community in Oregon. This is the firm’s second deal of the year, so far.
Built in 2014, Crescent Park is a three-story, 116,000-square-foot community with 119 units. It offers a mix of studio, one-bedroom and two-bedroom units, high-quality amenities and scenic views. The seller was an investment management firm focused on alternative assets, including seniors housing, that had acquired the property when it was underperforming. Now, the community is stabilized, and the seller decided to exit to realize its gain. Inspired Healthcare Capital paid $35 million, or $294,100 per unit, which was the original contract price.
Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, and Dan Baker represented the seller in the deal.
