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NAPLES, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management, have acquired Beach House, a 113-unit assisted living and memory care community in Naples.
The community is located three miles from Naples’ Fifth Avenue District, close to shopping centers, medical facilities, recreation and entertainment venues.
CPF plans to make investments to improve the campus. Grace Management will take over operations. The seller was not disclosed.
Although the price was also not disclosed, KeyBank Real Estate Capital provided an $18.1 million bridge loan for the acquisition. Peter Trazzera and Patrick Gilbreath of KeyBank Real Estate Capital’s Institutional Healthcare Group structured the financing.