ARC Healthcare Trust II
St. Louis, MO - Allegro recently revealed the purchase of five properties to American Realty Capital Healthcare Trust II, Inc. (ARC). Allegro is a developer and operator of seniors housing communities located in Florida and Kentucky. The agreement cost of those five Allegro properties had been $172.5 million, exclusive of closing costs. This sale includes properties positioned in Jupiter, Florida; Stuart, Florida; Tarpon Springs, Florida; St. Petersburg, Florida; and Elizabethtown, Kentucky.
“ARC is excited to include these course A communities to your portfolio and develop our running commitment with Allegro, ” says Ross Sanders, Vice President (VP) of American Realty Capital medical Trust.
Vant•Age Pointe Capital Management & Advisory, Inc. acted as exclusive advisor within the transaction.
Allegro will continue to handle day-to-day businesses of these five properties underneath the Allegro brand name. This transaction enables Allegro to summarize the partnership with their present longstanding investor/lender and create investment to construct several brand-new communities.
“We are very happy to access this commitment with ARC, ” states Larry Schiffer, Chairman and ceo (CEO) of Allegro. “This deal aids future growth for Allegro and aligns with this objectives and mission to produce high quality care for our residents.” The deal closed recently. The five Allegro properties offer a full selection of senior living options including independent living, assisted living, memory treatment and skilled medical. Each residential property is well-maintained and situated near hospitals, highways and activity.
Allegro focuses on the development and management of deluxe senior living communities. They currently operate nine communities throughout Florida and Kentucky, with a corporate company in St. Louis, Missouri. They concentrate on independent lifestyle, assisted lifestyle, memory care and skilled nursing. Allegro provides seniors with solutions and amenities to call home an inspired life.