Chicago Pacific Acquires Sedgwick Plaza In Kansas

by Jeff Shaw

WICHITA, Kan. — Chicago Pacific Founders (CPF) and its affiliate CPF Living Communities, have acquired Sedgwick Plaza, a 151-unit seniors housing community in Wichita, for an undisclosed price. The acquisition is CPF’s first in Kansas.

Sedgwick Plaza, previously owned and managed by Capital Senior Living Corporation (NYSE: CSU) will retain the Sedgwick Plaza name and services. CPF plans to invest more than $1 million dollars in capital improvements to increase occupancy and enhance operations.

Minneapolis-based Grace Management Inc., a partner of CPF, will manage the property.

CPF will finance the acquisition with equity from CPF’s fund and debt from Fannie Mae, serviced by Berkadia.

CPF is a Chicago-based healthcare investment fund for the senior living, behavioral health, and dental industries.

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