Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of muni-finance bond transactions to add additional assets to its senior living portfolio.
Built in 1979 as a hotel and renovated/converted in 2018, Tapestry Senior Living Wickliffe is a four-story assisted living community comprised of 160 studio and one-bedroom units, with 124,212 square feet on 5.2 acres. It was previously operated by Tapestry Senior Living. The community will be rebranded as Prosper at Wickliffe and will be managed by Prosper Life Care.
