BEAUMONT, Texas — Chicago Pacific Founders (CPF) has acquired Atria Collier Park, a 159-unit seniors housing community in Beaumont, located east of Houston near the Louisiana border.
CPF made the acquisition along with two of its subsidiaries, CPF Living Communities and Grace Management. Grace Management will take over operations of the community, which will now be known as Collier Park Senior Living. The price was not disclosed.
CBRE National Senior Housing arranged both the sale and an undisclosed amount of acquisition financing. Lisa Widmier represented the seller, a publicly traded REIT, while Aron Will arranged the financing for CPF. The loan is a seven-year, floating-rate loan with 24 months of interest-only payments through Freddie Mac.
CPF plans to make investments in the campus to enhance the quality of life for residents.