Ziegler’s Dan Revie Tedd Van Gorden represented Healthpeak Properties in the sale of its last two entrance-fee CCRCs that were part of its joint venture with Brookdale Senior Living. The deal includes Foxwood Springs, a 434-unit campus in Raymore, Missouri, and Robin Run, a 457-unit campus in Indianapolis, Indiana. Both were originally part of the National Benevolent Association portfolio that went through bankruptcy proceedings over a decade ago. And after Healthpeak bought out Brookdale’s interest in the joint venture in Fall 2019, these were the only two campuses excluded from that transaction.
Subsidiaries of the Texas-based not-for-profit Boncrest Resource Group acquired the operations and will bring on ER Senior Management, another Texas-based operator, to manage the campuses after a brief transition period from Brookdale. So, these campuses are once again operating as not-for-profits. The buyer of the real estate was not disclosed.
