BARTLETT, Ill. — Focus Healthcare Partners has received financing for the acquisition and repositioning of Hearthwood Senior Living, a 293-unit senior living community located in Bartlett, roughly 40 miles northwest of downtown Chicago.
Ryan Stoll and Taylor Mokris of BWE arranged the $37 million non-recourse financing on behalf of Focus, which will use the funds to lever its previously all-cash acquisition of the property as well as more than $15 million in capital improvements. Focus plans to refresh the lobby and amenity area and add a bistro, modern theater and new dining room, as well as upgrade paint and lighting in the corridors and refresh units as they become vacant.
Situated on 37 acres, Hearthwood Senior Living features a full continuum of care, with independent living, assisted living, memory care and skilled nursing units. Life Care Services operates the property.