RADNOR, PA – An affiliate of Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments throughout the U.S., has acquired King City Senior Village, an independent living multifamily community in the greater Portland submarket of King City, Oregon, according to Peter Scola, founder and Co-CEO of Livingston Street Capital.
This is the first West Coast addition to the firm’s 55+ active adult and independent living portfolio and comes on the heels of four recent property acquisitions in the sector by Livingston affiliates, including Schuyler Commons, a 144-unit community in Utica, New York; Glenmont Abbey Village, a 148-unit community near Albany, New York; Hanover Place, a 150-unit community in the Chicago suburb of Tinley Park, Illinois; and Alta at Regency Crest, a 150-unit community in the Baltimore suburb of Ellicott City, Maryland.
“We’re focused on identifying Core, Core-Plus, and Light Value-Add communities throughout the country that facilitate the lifestyles today’s 55+ residents desire, based on our expertise in the active adult and independent living sectors,” says Scola. “King City Senior Village is well aligned with this strategy, due to its appealing location and established emphasis on providing a range of wellness-minded activities and engaging social programs.”
As of September 2020, 40% of the country’s Baby Boomer generation, which totaled 71.6 million in 2019, is retired. Livingston Street has long anticipated this rapidly growing demand for housing that provides both quality and value for one of the largest segments of the U.S. population, Scola notes.