Charter Senior Living of Hazel Crest
This distressed asset was purchased in Q4-2021, with 64 units including: 16 Assisted Living (AL) and 48 Memory Care (MC). The prior owner purchased the asset out of bankruptcy and hired a new management company to stabilize the operation. The new management company then brought the deal to Marquee Capital off-market.
At acquisition the asset was ~85% occupied with REVPOR well below market rates resulting in negative cash flows.
After acquisition, a complete renovation of common area spaces and select units was completed, rental and service rates were adjusted up to market and as a result cash flow is positive and continues to grow.
Location: Hazel Crest, IL (Chicago)
Project Type: Seniors Housing
Marquee Capital - 301 North Broadway, Suite 300, Milwaukee, WI, 53202, United States (414) 585 8870