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Real Estate - MAY 14, 2019

Triloma Seniors Housing acquires two assisted living communities

by Released

Triloma Seniors Housing has acquired The Fountains at Granite City and The Fountains at Godfrey, two seniors housing communities with a combined 135 assisted living units.

Granite City and Godfrey, both in Illinois, are submarkets of the St. Louis metropolitan area.

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. Triloma and Cedarhurst expect to spend approximately $1.8 million to renovate the communities, including updates and improvements to the common areas.

Cedarhurst Living, 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 Seniors Housing partnered with Cedarhurst based on its strong brand recognition and successful track record in the region.

Triloma Seniors Housing, an affiliate of Triloma Financial Group, focuses focused on investing in healthcare and seniors housing real estate.

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