June 21, 2023
CHICAGO, IL — Focus Healthcare Partners LLC, a Chicago-based real estate investment and asset management firm, has announced the acquisition of Lexington Square Senior Living in Elmhurst, IL. The community will be rebranded as The Roosevelt at Salt Creek and converted from an entrance-fee, buy-in model to a rental community offering independent living and assisted living.
Des Moines, IA-based Life Care Services will manage The Roosevelt at Salt Creek and help facilitate the transformation. Financing for the transaction was provided by BMO.
The Roosevelt at Salt Creek will undergo a multi-year and multi-faceted renovation to build out the community’s public areas, enhance its amenities, and broaden programming options for residents to create a modern senior living rental choice for older adults in the Chicago area.
Focus Healthcare Partners invests in senior housing and healthcare assets on behalf of institutional and private investors. Life Care Service, which has been awarded the JD Powers Customer Satisfaction Award four years in a row, provides management services to approximately 150 communities, serving over 42,000 residents.