BRIDGEWATER, N.J. — LCS has acquired Arbor Glen, a continuing care retirement community (CCRC) in Bridgewater, for an undisclosed price.
Located southwest of New York City, the community sits on 23 acres and features 183 independent living units, 19 independent living villas, 23 assisted living units, 10 memory care units and 64 skilled nursing beds.
LCS changed the community’s name to Laurel Circle and plans to implement an $8 million capital improvement plan at the property.
Cushman & Wakefield’s Allen McMurtry, Paul Carr and David Kliewer represented the seller and former operator, Friends Retirement Concepts.
Based in Des Moines, Iowa, LCS Real Estate has executed on acquisition and development transactions in excess of $800 million since 2016. The company currently has an ownership stake in 37 seniors housing communities nationwide, including 13 CCRCs.