ST. CHARLES, Ill. — Citrine Investment Group has sold River Glen of St. Charles, a senior living community located in St. Charles, about 45 miles west of Chicago.
Citrine acquired the property, which totals 106 units, in January 2023. The community includes independent living, assisted living and memory care residences.
Under Citrine’s ownership, River Glen of St. Charles was transitioned from an entrance-fee structure to a market-rate rental model. Citrine also invested in strategic capital improvements throughout the community.
“River Glen benefited from Citrine having the conviction to take on the entrance fee to rental transition and follow through,” says Lynn Jerath, founder and president of Citrine Investment Group. “Our team brought hands-on execution to every phase of the investment while maintaining a consistent focus on the needs of residents and staff throughout the process.”
The buyer and sales price were not disclosed.