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The Residence at Forsgate
Monroe Township, New Jersey
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Chelsea Senior Living and Focus Healthcare Partners, in its
joint venture with Artemis Real Estate Partners,purchased the 117-unit assisted
living and memory care facility located in Monroe Township, NJ for $7,100,000 via
a court-ordered receivership sale.
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| Allen McMurtry |
The 69,000 square
foot property was developed in 1996 and was 64% occupied at the time it was
acquired. The three-story property has 89 units of assisted living and a
separate 28 unit memory care wing. Chelsea, who operates 12 senior housing
facilities in New Jersey, is managing the project.
The new owners are undertaking a significant capital
improvement plan to upgrade the facility’s physical plant which they expect to
complete within the next 12 months.
Allen McMurtry and his team have sold 136 senior
housing communities in 29 states with aggregate sales volume of over $1.6
billion since 1986.
Contact:
Allen McMurtry
• 813.349.8349
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