The LaSalle Group is making plans for senior housing through a new joint venture partnership that kicks off with the acquisition of a six-property portfolio this week.
The six properties will be acquired through a $17 million equity placement secured by Irving, Texas-based The LaSalle Group through a private equity real estate firm in a new joint venture. The financing was arranged by real estate services firm Cassidy Turley.
“LaSalle Group’s track record, relationships and ability to source investments created strong interest from real estate firms wanting to establish a long term relationship with a best-in-class partner in the senior housing sector,” said Beth Lambert-Saul, Cassidy Turley executive managing director, who represented The LaSalle Group in the joint venture.
The portfolio of properties includes two Dallas-based communities and two based in the Chicago area. The acquisition is serving as the first of additional planned purchases, the companies said noting the two will partner on “select future opportunities nationwide in the memory-care sector.
The LaSalle group has been recently active in the senior housing space; the company has been involved in the development of numerous memory care projects of late, including several communities in Texas and Oklahoma.
Written by Elizabeth Ecker