Auerbach Funds Acquires 70-Unit Foothill Village Community in Angels Camp, California

ANGELS CAMP, Calif. — A partnership between Auerbach Funds and Prado Senior Living, an affiliate of Mello Group LLC, has acquired Foothill Village, an independent living, assisted living and memory care community in Angels Camp, approximately 80 miles southeast of Sacramento.

The new owners plan to renovate the 70-unit community, including the addition of new dining outlets, outdoor amenities and a lounge that overlooks the Sierra Nevada Mountains.

“We were able to acquire the asset off market during the height of COVID-19 pandemic,” says Peter Auerbach, founder and managing partner of Auerbach Funds. “We are confident that our value-add initiatives, upgrades and leasing strategy will create a better experience for our residents and their families, while also giving our investors upside potential.”

This marks the third acquisition since Auerbach Funds announced its first close in mid-October for Auerbach Opportunity Fund III. The fund has a target size of $100 million and is currently open to new investors.

Blueprint Healthcare Real Estate Advisors negotiated the transaction.