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ELMHURST, Ill. — CBRE has arranged an undisclosed amount of financing for the sale of Lexington Square of Elmhurst, a 348-unit independent living and assisted living community in Elmhurst, approximately 17 miles west of Chicago.
The property was built in 1990. The borrower, Focus Healthcare Partners LLC, has purchased the asset and rebranded it as The Roosevelt at Salt Creek. Focus plans to execute a significant capital improvement plan and convert the existing entrance-fee CCRC model to rental units.
Aron Will, Matt Kuronen and Michael Cregan of CBRE National Senior Housing arranged the financing. BMO provided the capital for the five-year loan.