Case Study
Overview
Foundry acquired the portfolio of Spring Arbor Senior Living, containing over 1,400 units in 24 communities, in May 2022.
Location
NC, VA & MD
The Spring Arbor portfolio was an off-market, light value-add opportunity in which we acquired 24 assisted living and memory care communities containing 1,424 units (995 assisted living | 429 memory care) throughout North Carolina, Virginia, and Maryland. Foundry acquired the portfolio in May 2022 in a JV with an institutional equity partner and immediately assumed responsibility for operations through Spring Arbor Senior Living, which we also acquired as part of the transaction. Spring Arbor was the third and largest seniors housing acquisition completed by Foundry, which has now acquired 29 seniors housing communities with a total capitalization in excess of $350MM since the inception of the business line in 2020.