Chicago, IL (January 19, 2017)
Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 230 unit former senior housing community located in Dade City, Florida. The greater Dade City community is very excited to re-open what was once a historic hotel, just a few blocks from the city’s dowtown. At its peak in early 2015, the community served over 200 residents, prior to running into a number of clinical and operational challenges.
Now under new ownership and management, Birchwood HCP intends to deploy approximately $750,000 in renovations to revitalize the community and again make it a hallmark in the community. The pre-marketing and construction planning was initiated well before closing to facilitate a spring re-opening.
Birchwood HCP has once again partnered with Priority Life Care to manage the building. The two companies also own and operate a community approxiately 30 miles away, so were already familiar with the market and building when it became available for purchase.
Birchwood HCP is a Chicago-based health care real estate private equity firm with a primary focus on senior housing and nursing home communities. With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions and development. The investment in Dade City, FL represents Birchwood’s 21st asset, all of which were acquired in the past two years.