Town Lane, a real estate investment management firm, in conjunction with Arcole, its senior housing platform, announced the acquisition of The Sheridan at Green Oaks, a 198-unit independent living, assisted living and memory care community in Lake Bluff, Ill.
The community, which will be rebranded Modena Green Oaks post-acquisition, is well-situated along Waukegan Road in Lake County, Ill., east of Interstate 94, the main route to Downtown Chicago, less than three miles from Downtown Lake Bluff, offering proximity to healthcare options, premier golf and country clubs and five miles from Advocate Condell Medical Center.
The transaction represents Town Lane’s fifth senior housing investment in its inaugural $1.25 billion real estate fund in partnership with Arcole, a recently launched senior housing platform that partners with experienced operators to acquire newer-vintage, full-continuum communities in high-growth markets. Solera, a deeply experienced senior housing o
