WASHINGTON, D.C. — Capitol Seniors Housing (CSH) has completed the sale of a four-property seniors housing portfolio located in New Jersey, Pennsylvania and metro Chicago. Welltower acquired the communities for an undisclosed price.
Two of the properties are situated in the Chicago metropolitan area, with one community located in Exton, Pennsylvania, and another community located in Marlton, New Jersey.
According to CSH, the company has now surpassed $1 billion in sales of senior living communities developed by the firm. CSH was founded in 2003 by former Sunrise Senior Living executives Scott Stewart and Michael Hartman with Kyle Hendereson. Joe McElwee joined the firm shortly after its inception.
“Our platform was built to create long-term value through thoughtful development, disciplined execution and strong operating partnerships,” says Stewart, chief executive officer of the company. “This transaction reflects the We remain highly active in both acquisitions and new development as senior housing fundamentals continue to strengthen and compelling opportunities emerge across the market.”