MILWAUKEE—Berengaria, a portfolio company of Marcus Investments, together in partnership with Charter Senior Living, has completed the acquisition of Charter Senior Living of Hazel Crest, Hazel Crest, Ill. This asset is the fourth senior living property added to Marcus Investment’s growing senior living portfolio.
The 64-unit community offers assisted living and memory care. Dan Sisel, partner at Marcus Investments, said, “Hazel Crest offers a unique opportunity to invest in the fast-growing middle-market segment of senior living. The renovations that were completed by the previous owner under Charter’s management, combined with the improvements we are planning, will make Charter of Hazel Crest the most sought-after affordable senior living option in the area.”
Keven Bennema, president/CEO of Charter Senior Living, said, “Our on-site team have done an amazing job so far turning around a community that was not well cared for in the past; they’re excited to finish the turnaround.”
About Marcus Investments, LLC & Berengaria Development LLC
Berengaria, the real estate company under the Marcus Investments family office umbrella, has developed and/or managed more than $600 million of real estate nationwide since its inception in 2008. The company’s team of real estate and multi-vertical business experts is actively seeking opportunities to accelerate its growth, with a focus on acquiring open air retail shopping centers and senior living communities.
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