NEW LENOX, IL - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, brokered the $9,800,000 sale of Paradise Park of New Lenox, an 80-unit assisted living and memory care community located in New Lenox, Illinois in Will County.
Going forward, the community will be operated as a joint venture between Focus Health Partners and Artemis Real Estate Partners. The community has 48 assisted living units and 32 memory care units in five one-story cottages. Built in 2007, Paradise Park New Lenox is located in a desirable area with state-of-the-art amenities.
“This property is an ideal opportunity for Artemis and Focus’s joint venture to acquire a well-built asset in a growing area,” says Debbie Laycock of ARA National Seniors. “We are pleased to have represented the ownership group in the sale of this asset out of receivership.”
ARA National Seniors Housing Group provides unparalleled insight, value, and performance to the seniors market, while bringing fresh capital to the Seniors Housing arena. The local licensed broker was ARA’s Chicago, IL office.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, (678) 553-9360 or Amy Morris at amorris@ARAusa.com, (678) 553-9366; locally, Debbie Laycock at dlaycock@ARAusa.com or (214) 420-3110.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com