CHICAGO-Two suburban Chicago retirement communities, which went bankrupt in 2009, change hands. An affiliate of Senior Care Development LLC and its capital associate Fundamental Advisors LP have purchased Monarch Landing and Sedgebrook situated in Naperville and Lincolnshire, respectively, for about $39 million.
The 601-unit, 849,265-square-foot Sedgebrook, constructed between 2005 and 2009, is housed on a 91-acre site, and the 362-unit, 612,484-square-foot Monarch Landing, constructed between 2006 and 2007, is housed on a 78-acre site. For the full story, go to Office & Commercial Real Estate Magazine.
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