AKRON, OH- SenQuest Senior Living, the senior housing division of Los Angeles-based Titan Real Estate Investment Group, Inc., has announced their acquisition of Liberty Residence I and II, a 137-unit senior residential community in Wadsworth, Ohio, for $12 million. The independent and assisted living property, which sits in an affluent suburb of Akron, was 91 percent occupied at the time of sale.
Jacob Gehl, a broker with Marcus & Millichap, handled the transaction for both parties.
“Liberty Residence is representative of the type of senior living communities that are currently in high demand nationwide,” said Doug Allen, a Titan partner and head of acquisitions for SenQuest. He added that the company will expand its senior portfolio and plans to invest $100 million in properties this year. “Liberty Residence is located in a community where residents have lived most of their lives, nearby loved ones, and offers comfortable housing in a healthy, enjoyable environment that provides all the services older adults want and need to continue living independently as they age.”
In April, GlobeSt.com reported that Allen had just joined SenQuest, and was “responsible for growing Titan/SenQuest’s portfolio of senior housing facilities nationwide.”
SenQuest has been in an acquisition mode, acquiring two senior communities in the Dallas-Fort Worth metro area, Montclair Estates, a 111-unit community in Garland and Corinthians Retirement Community, a 120-unit community in Carrollton.