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Commonwealth Acquires Three-Property Portfolio in Michigan

NEW BALTIMORE and GRAND RAPIDS, Mich. — Commonwealth Senior Living has entered the Michigan market with the acquisition of three newly renovated senior living communities.

The properties include Prestige Commons in New Baltimore, and Addington Place at Grand Rapids and Addington Place at East Paris in Grand Rapids. The communities will be rebranded as Commonwealth Senior Living at New Baltimore, Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris, respectively.

Commonwealth Senior Living at New Baltimore is wrapping up a $6.5 million complete renovation of the community, which includes a two-story addition with 18 additional units and enlarged common areas. After completion of the expansion, which is scheduled for September of this year, the community will feature 45 assisted living beds and 23 memory care beds.

Commonwealth Senior Living at Grand Rapids is currently undergoing a $5.5 million renovation scheduled for completion in the fourth quarter of this year. Projects include a new lobby/entrance with a new porte-cochère, which will connect the two existing buildings, and renovations of all common areas and suites. Upon completion, the community will feature 50 assisted living beds and 36 memory care beds.

Commonwealth Senior Living at East Paris is undergoing a $10 million complete renovation that includes a new lobby/entrance with a new porte-cochère, connectors between all buildings, and renovations/updates to all common areas and suites/apartments. After construction is completed in the fourth quarter of this year, the community will offer 36 independent living apartments, 54 assisted living beds and 30 memory care beds.

The seller and price were not disclosed.

The post Commonwealth Acquires Three-Property Portfolio in Michigan appeared first on Seniors Housing Business.

Source: Senior Housing Business

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