CHICAGO—As reported in GlobeSt.com last week, ChicagoPacific Founders has just launched a senior living platform called CPFLiving Communities, and officials with the new company saythey plan to invest about $250 million in senior living assets overthe next three to four years. And Rick Shamberg,the managing partner of Cerulean Partners LLC anda consultant to CPF, tells GlobeSt.com that it's an opportune timeto invest in senior-focused properties.
“There is a great deal of new development going on across thenation,” he says, but some of those projects, even oneswell-located and well-constructed, could falter. And those projectscould provide CPF with opportunities.
“Sometimes class A product in good locations will not have theright management or is ill-conceived in some way,” Shamberg adds,but with the depth of experience at CPF, he believes the group canpick up such properties for low prices and turn them around. “Wecan find some diamonds in the rough that others have not beensuccessful at.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
