[Correction: This article previously incorrectly listed Capital Seniors Housing as the buyer. It has been updated to list Capitol Seniors Housing as the buyer. We apologize for the error.] Capitol Seniors Housing recently acquired St. Joseph’s Assisted Living and Memory Care community in Jupiter, Fla., in a $28.5 million transaction with joint venture partner Harvard Management Company. Focus Healthcare Partners, based in Chicago, sold the property.
The community has 100 units broken into 80 assisted living and 20 memory care suites, for a purchase price of $285,000 per unit and a cap rate of 7.31%. St. Joseph’s is managed by Arbor Co.
Written by Alyssa Gerace