MedCore Partners in partnership with REDICO and American House Senior Living has completed the acquisition of two (2) senior living communities located in Troy and Rochester Hills, Michigan within the Detroit MSA. The communities will be operated by American House under the brands American House Somerset and American House Hampton Village, respectively.
“MedCore is excited to partner with American House and to expand its existing senior living portfolio to now include Michigan” said Brian Bollich, one of MedCore’s four founding partners. “This purchase of Somerset and Hampton Village highlights our investment program of purchasing value-add opportunities with significant location upside, strong cash flow, and operational improvements.” The acquisition team hopes to leverage each asset’s central location to healthcare options, as well as recreational and lifestyle amenities to position them for steady value enhancement.
MedCore currently owns and manages senior living communities in Texas, Oklahoma, Arizona, Florida, Nevada, Oregon, Utah, and Washington. This acquisition will bring MedCore’s seniors housing portfolio to 9 states and 22 assets with approximately 2,700 beds. The operator, American House, having grown to now operate more than sixty communities, has a strong presence in Michigan as well as throughout the Midwest, Southeast and New England.
Dallas based MedCore Partners is a full-service real estate company dedicated exclusively to the healthcare and senior living industry. MedCore has built trusted relationships with both healthcare providers and numerous capital sources to successfully execute the development, acquisition, construction, financing, and leasing of healthcare facilities. Leveraging its intimate knowledge of medical sector dynamics with its comprehensive platform of real estate services offered, MedCore is uniquely qualified to identify and capitalize on healthcare projects and maximize the potential profits returned to its investors. Collectively, MedCore’s principals have led the development and investment efforts for healthcare initiatives valued in excess of $2 billion, in addition to executing brokerage transactions for over 2,000 physicians.
