LAS VEGAS — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Acacia Springs, a 160-unit seniors housing community in Las Vegas.
This is CPF Living’s third property in the state of Nevada. Grace Management will take over operations of the community. The property is near the Red Rock Casino and 13 miles from the Las Vegas strip.
The sale price was not disclosed, but Aron Will of CBRE National Senior Housing arranged $13.5 million in Fannie Mae acquisition financing for the deal. The seven-year, non-recourse loan features 3.5 years of interest-only payments.