Capital Health Group Sells 534-Bed Portfolio in Southeastern Pennsylvania

PENNSYLVANIA — Capital Health Group LLC (CHG) has arranged the sale of a four-community, 534-bed seniors housing portfolio in southeastern Pennsylvania.

Affiliates of CHG acquired the portfolio, which features a mix of independent living, assisted living and memory care units, in January 2017. CHG’s affiliated management company, Milestone Retirement Communities LLC, operated the communities during this time. Under CHG’s ownership, portfolio occupancy averaged over 93 percent and the operating margin was consistently above 38 percent. 

“The sale of the portfolio provided CHG’s investors with a superior risk-adjusted return on their investment and allowed Milestone to develop additional resources in the mid-Atlantic that will be useful for years to come,” says Jack Dwyer, a principal of CHG.

CHG sold the community on behalf of CHH Senior Housing LP, a CHG-sponsored operating company capitalized by Akard Street Partners, an investment venture with the Teacher Retirement System of Texas. The buyer, price and names of the communities were not disclosed.

CHG is a private equity firm that was founded in 2006 to make capital investments in seniors housing facilities through acquisition and development. CHG’s current portfolio includes 41 operating communities and six communities under development. Milestone’s portfolio is located nationally across 20 states and consists of 89 communities with more than 7,800 units.