SHA Capital Partners Acquires Assisted Living Community in Greendale, WI

 

Greendale, WI – SHA Capital Partners announces the acquisition of Clifden Court, a 3-building, 92-unit assisted living campus in Greendale and Franklin, Wisconsin. SHA Capital Partners, through an affiliate, partnered with 41 Management and TH Associates to complete the transaction on November 1, buying a local consortium’s only senior housing property.

 

“We see a strong opportunity to bring operating efficiencies to a property that is well located and has solid occupancy and rent levels,” said David Watkins, partner of SHA Capital Partners (www.shacp.com). Tom Ostrom, president of 41 Management, agreed: “Bringing this property into the 41 Management portfolio of 19 communities in Wisconsin will benefit residents and their family members while improving operations.” Tim Hedges of TH Associates expressed enthusiasm about the opportunity to improve the physical plant, saying, “We are eager to roll up our sleeves and upgrade the main living areas. We also see an opportunity to create additional common space by enclosing part of two patios.”

National Exchange Bank and Trust of Fond du Lac, Wisconsin, provided debt financing, with the Waukesha branch originating the loan.

SHA Capital raised equity capital from friends, family and senior housing executives. “We are honored to have the trust of smart and successful senior housing industry veterans. We are excited about our team’s ability to create value in this and future opportunities,” Watkins said

 

About 41 Management

Chicago-based 41 Management, which operates most of its communities under the Matthews Senior Living brand (www.matthewsseniorliving.com), will have an ownership interest in the partnership and will manage the community, focusing on creating a safe and supportive environment.

 

About SHA Capital Partners

SHA Capital Partners, a senior housing investment firm based in Chicago, will have an ownership interest in the partnership and will act as managing member and asset manager. Its principals have more than 30 years of experience in the senior housing industry and have been involved in the acquisition of more than $400 million of senior housing communities and the development of projects valued at more than $1 billion.

 

About TH Associates

TH Associates is a Chicago-based developer/construction oversight firm that has participated in the development and construction of over $1 billion of senior housing.

 

About Clifden Court Assisted Living

Clifden Court is a 92-unit community based retirement facility (CBRF license) in Greendale and Franklin, WI. The campus’s three buildings were built in 1998, 1999 and 2010. Clifden Court is dedicated to creating a caring, kind and safe environment that provides a high level of support. 

 

To learn more about this transaction, please contact:

David Watkins, Partner

SHA Capital Partners

700 North Green Street, Suite 401

Chicago, IL 60642

Office: (312) 560-1083

dwatkins@shacp.com

 

 

Improvements Planned for Tallgrass Senior Living of Sun Prairie—formerly KindredHearts—Under New Ownership and Management

 

​Sun Prairie, WI -- Tallgrass Senior Living of Sun Prairie, 605 Chase Boulevard, formerly known as KindredHearts, is under new ownership and management with plans to renovate the 10-acre, 114-unit independent and assisted living community. The ownership, SHA Capital Partners, and operator, Matthews Senior Living, will continue providing senior residents with a safe, supportive and caring environment under the leadership of on-site Executive Director Kathy Linden.

 

“We look forward to investing in the community to improve the building, grounds, services and amenities that will help our residents live as fully and as independently as possible in this convenient and idyllic setting,” said Tom Ostrom, president of Matthews Senior Living.

 

The soon-to-be renovated Tallgrass Senior Living will feature remodeled assisted living apartment units and age-restricted  cottage-based units, along with  refurbished dining, reception and community living areas, a new salon and spa, , enhanced services and improved landscaping.TH Associates will oversee the renovation budget.

 

“These improvements will enhance the quality of life for residents as well as attract new residents to Tallgrass Senior Living, which is conveniently located on the quiet, tree-lined Chase Boulevard, close to Colonial Club Senior Activity Center, Carriage Hills Park and downtown Sun Prairie,” Ostrom said.

 

About Tallgrass Senior Living

Tallgrass Senior Living, formerly known as KindredHearts Senior Living, sits on a 10-acre

campus located at 605 Chase Boulevard, Sun Prairie, WI. The community consists of 52 assisted living units in a main three-story building and 62 age-restricted units in eight single-story cottages with patios and lawns on the cul de sac.

 

About Matthews Senior Living

Matthews Senior Living is a privately held company founded in 2012 that specializes in the management of senior care communities, currently operating 13 communities in Wisconsin. Matthews Senior Living communities provide personal care and attention to help senior residents with the activities of daily living while promoting independence and healthy, happy living within homelike environments.

 

About SHA Capital Partners

SHA Capital Partners is a real estate investment advisory firm solely focused on senior housing. SHA founding principals have been involved in in the acquisition of more than $400 million of senior housing communities and the development of projects valued at more than $2 billion. Principals have senior housing, development and operating backgrounds.

 

About TH Associates

TH Associates is a Chicago-based developer/construction oversight firm that has participated in the development and construction of over $1 billion of senior housing.

  

For more information, please call Tallgrass Senior Living at 608-837-2124.

SHA Capital Partners Welcomes New Partner

Chicago, IL – SHA Capital Partners, LLC, (www.shacp.com) is pleased to announce that Douglas A. Cooper has joined the firm as a partner. Cooper joins SHA Cap from Fortress Investment Group, (NYSE: FIG), a $70 billion investment advisory firm based in New York. He was an acquisition officer focused on senior housing investments for the firm’s New Senior Investment REIT (NYSE: SNR). During Cooper’s tenure, Fortress completed $1.8 billion of senior housing transactions.

 

SHA Cap will continue to specialize in senior housing investments, and, with the addition of Cooper, will broaden its scope to include development and advisory services. “We see tremendous synergy with the addition of Doug Cooper. His entrepreneurial energy and ability to source transactions fit well with SHA Cap’s relationships with operators and capital sources,” said managing partner David Watkins. Cooper is based in Washington, DC and will focus on acquisitions and development opportunities in the mid-Atlantic and Northeast US, to complement the firm’s presence in Chicago and the Midwest.

 

About SHA Capital Partners

SHA Capital Partners is a real estate investment firm with a sole focus on senior housing. Its founding principals have been involved in the acquisition of more than $500 million of senior housing communities and the development of projects valued at more than $2 billion. Principals have senior housing investment, development and operating backgrounds.

 

For more information, please visit http://www.shacp.com

To learn more about SHA Capital Partners, please contact:

 

David Watkins, Managing Partner

SHA Capital Partners

 

Office: (312) 560-1083

 

dwatkins@shacp.com

 

Douglas A. Cooper, Partner

(202) 246-3594

dcooper@shacp.com

Date Posted: June 15, 2016

SHA Capital Partners
Announces First Senior Housing Investment

Chicago, IL – SHA Capital Partners, LLC, announces the completion of its first senior housing acquisition, buying Heritage House of Portage, a 66-unit assisted living property in metropolitan Madison, Wisconsin, in a $5.9 million deal that closed Jan. 22. David Watkins, partner of SHA Capital Partners, said, “We like the opportunity to generate strong current cash flow and also create significant value through modest occupancy gains.” 

 

SHA Capital Partners purchased the property directly from the owner, with no broker involvement. “Our acquisition process was collaborative and patient. We gave the sellers a fair price and allowed them to focus on running the property, rather than selling it,” Watkins said. His firm expects to pursue similar opportunities in Wisconsin and elsewhere.

 

MB Financial Bank, NA, provided debt financing.

 

SHA Capital raised equity from friends and family and from senior housing industry sources, including RSF Partners, LLC, a Dallas senior housing investment firm (http://rsfpartners.com/) that has completed more than $700 million of investment transactions.

 

Chicago-based Matthews Senior Living (www.matthewsseniorliving.com) will have an ownership interest in the partnership and will manage the community, focusing on creating a safe and supportive environment. Tom Ostrom, president of Matthews Senior Living, looks forward to a seamless transition: “We are impressed by the current administrative team at the property and the dedication they bring to serving the residents of Heritage House. We plan to build on the community’s strong foundation of caring and kindness.”

 

Ostrom said the capital improvement plan is an important step in attracting additional residents to the community. The plan calls for upgrades to the reception area, the dining room and other shared spaces. “We see room for a few improvements that will enhance the quality of life for the residents, including creating a movie room, replacing flooring and reconfiguring the dining room,” Ostrom said.

 

About SHA Capital Partners

SHA Capital Partners is a real estate investment advisory firm with a sole focus on senior housing. Its founding principals have been involved in the acquisition of more than $400 million of senior housing communities and the development of projects valued at more than $2 billion. Principals have senior housing investment, development and operating backgrounds.

 

About Heritage House of Portage

Heritage House is a 66-unit residential care apartment community (assisted living) in Portage, WI. It was built in 1999 with a wing added in 2007. Heritage House is dedicated to creating a caring, kind and safe environment that encourages independence but provides support when needed.

 

Viisit the community's website at (www.heritagehouseofportage.com)

 

Like us on Facebook at https://www.facebook.com/heritagehouseofportage?fref=ts

 

Date posted: February 10, 2015