Chicago Pacific Founders Acquires 118-Unit Seniors Housing Community in Southwest Florida
ENGLEWOOD, FLA. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Heritage Oaks of Englewood, a 118-unit assisted living and memory care community in Englewood. Located along the state’s Gulf Coast between Tampa and Fort Myers, Heritage Oaks of Englewood is located near the Grove City shopping area, medical facilities and indoor and outdoor recreation. The acquisition includes approximately 50 acres adjacent to the community, which may be utilized for future development. Additional terms of the deal were not disclosed. Grace Management will take over operations at the community. Lisa Widmier of CBRE National Senior Housing represented the seller in the transaction.
Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing arranged $20.8 million in acquisition financing for CPF. The 10-year, fixed-rate loan features 60 months of interest-only payments.