DOYLESTOWN, Pa. — Newmark Knight Frank (NKF) has arranged the sale of and financing for Solana at Doylestown, located in the Philadelphia suburbs.
The 98-unit seniors housing community opened in 2014 and was 96 percent occupied at the time of sale.
Ryan Maconachy and Chad Lavender of NKF represented the seller, Atlanta-based Formation Development Group. A joint-venture between LCS Senior Living and Nuveen acquired the property for an undisclosed price.
Sarah Anderson and Brittany Robinson, also of NKF, secured the financing on behalf of the buyer.
Solana at Doylestown provides assisted living and memory care services.