Triloma Seniors Housing Buys Two Assisted Living Communities
The two communities are in Granite City and Godfrey, which are submarkets of the St. Louis metropolitan area.
WINTER PARK, Fla. — Triloma Seniors Housing, an affiliate of Triloma Financial Group, has acquired two assisted living communities in Illinois. The purchase price was not disclosed.
The two communities are in Granite City and Godfrey, which are submarkets of the St. Louis metropolitan area.
Cedarhurst Living LLC, based in St. Louis, Missouri, partnered with Triloma on the acquisition and will manage the communities. Cedarhurst currently operates 22 communities in Illinois, Missouri, Kansas and Oklahoma, with 10 of those communities in and around St. Louis.
Triloma and Cedarhurst expect to spend approximately $1.8 million to renovate the two new communities, including updates and improvements to the common areas.
The Fountains at Granite City, which was built in 2000 and expanded in 2006, has 72 assisted living units. The Fountains at Godfrey was built in 2006 and has 63 assisted living units.
The communities have been rebranded to Cedarhurst of Granite City and Cedarhurst of Godfrey.
Senior financing for the acquisition was provided by Regions Bank through its Healthcare Real Estate Group.