HARRINGTON PARK, N.J. and TAMPA, Fla. — Foundry Commercial, with institutional capital partner AEW, has acquired two senior living communities. The properties include Allegro Harrington Park roughly 20 miles north of New York City in Harrington Park, New Jersey, and Allegro Hyde Park, a community located in Tampa’s Hyde Park neighborhood.
Allegro Living, Foundry Commercial’s wholly owned senior living management platform, operated the communities prior to the acquisition and will continue to serve as the operator.
Delivered in 2021, Allegro Harrington Park features 173 units and a full continuum of care. Allegro Hyde Park totals 136 independent living and assisted living residences.
“These two exceptional communities represent the caliber of senior living opportunities we want to operate and pursue,” says Kevin Maddron, president of healthcare services for Foundry Commercial. “Allegro’s role in developing and operating these communities, with an uncompromising focus on quality and care, has made them both highly recognized in their markets.”
The seller and sales price were not disclosed.