Triloma Seniors Housing Acquires Two Assisted Living Communities Near St. Louis

GRANITE CITY and GODFREY, Ill. — Triloma Seniors Housing, an affiliate of Triloma Financial Group, has acquired The Fountains at Granite City and The Fountains at Godfrey, both located just across the Mississippi River from St. Louis.

The communities offer a combined 135 assisted living units. Cedarhurst Living will take over operations. Cedarhurst currently operates 22 communities in Illinois, Missouri, Kansas and Oklahoma, with 10 of those communities in and around St. Louis.

Regions Bank provided acquisition financing through its Healthcare Real Estate Group. The amount of the financing and the sales price of the communities were not disclosed.

The Fountains at Granite City, which was built in 2000 and expanded in 2006, has 72 assisted living units. The Fountains at Godfrey was built in 2006 and has 63 assisted living units. The communities have been rebranded to Cedarhurst of Granite City and Cedarhurst of Godfrey.

Triloma and Cedarhurst expect to spend approximately $1.8 million to renovate the communities, including updates and improvements to the common areas.

Mike Surak and Matt Andriano of Marcus & Millichap, along with Mark Myers of institutional property advisors, negotiated the sale on behalf of the seller, a local investment group that owned the facilities since construction.