GLEN ALLEN, Va., and HARLEYSVILLE, Pa. — Green Courte Partners LLC, through its Green Courte Real Estate Partners IV fund, has acquired its first two senior housing communities for an undisclosed price.
The first acquisition was Verena at Virginia Center, a 118-unit independent living community in the Richmond suburb of Glen Allen. The community was built in 2009 and was 97 percent occupied at the time of sale. Senior Lifestyle Corp. will operate the community.
The second acquisition was Arbour Square of Harleysville in the Philadelphia suburb of Harleysville. The community was built in two phases, completed in 2006 and 2014, and was 78 percent occupied at the time of sale. Heritage Senior Living will operate the community.
Matt Pyzyk, managing director of acquisitions, originated the transactions.
Green Courte Partners is a Chicago-based private equity investment firm.