Queenstown Landing
Queenstown, MD
OPENED March of 2021
Queenstown Landing consists of 51 units of assisted living and memory care in Phase I and 17 units in Phase II. Located on Maryland’s Eastern Shore, the community provides care and housing to seniors in an underserved market area. SHA Capital Partners teamed with Pittsburgh-based Integracare to develop and operate the community. Phase II is scheduled to commence construction in Spring of 2022.
Washingtonian North Senior Living
Gaithersburg, MD
Broke ground October of 2021
SHA Capital Partners teamed with Carlsbad, CA-based Kisco Senior Living on the development of 300 units of independent living, assisted living, and memory care in a prime location adjacent to a health club and two mixed-use developments. The community will offer class A services and amenities across the continuum of care. Construction commenced in October of 2021.
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Sage Meadow Portfolio
Middleton, De Pere, Fond du Lac, Racine, DeForest and Lake Geneva, WI
The portfolio consists of 267 units in seven locations in Wisconsin. SHA Capital partnered with Encore Senior Living to acquire the portfolio in May 2019, when it was 65 percent occupied. The plan includes a $3 million renovation and lease-up of the vacant units.
Clifden Court
Greendale/Franklin, WI
Clifden Court consists of 92 units in three buildings on a five-acre campus in the Milwaukee metropolitan area. SHA Capital partnered with Encore Senior Living to acquire the community in November 2017. SHA Capital completed a $1 million renovation in year one, and Encore stabilized operations in year two.
Tallgrass of Sun Prairie
Sun Prairie, WI
SHA Capital Partners sold TallGrass of Sun Prairie, a campus with 52 assisted living units and 62 cottage apartments, in two separate transactions in 2023. The tight Madison-area housing market prompted SHA Capital Partners to think creatively and find a buyer interested in converting the senior housing units to apartment units.
Through the successful transactions with two different groups, SHA Capital Partners paid off the bank loan and generated a 2.5x equity multiple to the TallGrass equity investors.
SHA Capital Partners acquired the campus in October 2016 when it was 50% occupied. During the hold period, SHA Capital Partners directed a $2 million renovation project that included updates to bathrooms and kitchenettes in each unit plus upgrades to common areas.
Heritage House of Portage
Portage, WI
Heritage House serves the Madison metropolitan area with 66 units of assisted living and was built in 1999 and 2006. SHA Capital Partners teamed up with Chicago-based operator Encore Senior Living to acquire the community in January 2015, when it was 80% occupied. Encore subsequently stabilized the property, and SHA Capital Partners harvested gains through a FNMA refinancing in 2018.
Candle Light Cove
Easton, MD
Candle Light Cove was acquired in 2014 with Integracare and consisted of two cottage-like residential buildings with 32 units. The partnership developed 32 additional assisted living units in 2016. The community reached stabilization in 2018 and sold in 2019 to a well-respected private equity firm.