MedCore Partners, in partnership with REDICO/American House, announced the acquisition of two senior living communities located in Troy and Rochester Hills, Mich. 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 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.
