CBRE Investment Management Acquires 149-Unit Belmont Village Senior Living In Chicago For $151M

The property involved in this transaction is a 149-unit senior housing asset located at 710 West Fullerton Parkway in Chicago, which sold for $151 million. This property, operated by Belmont Village Senior Living, was constructed in 2019. The price per unit stands at approximately $1,013,423, reflecting a significant value in the luxury senior housing market.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $151,000,000
• Units: 149
• Price Per Unit: $1,013,423
• Buyer: Adam Gallistel & Andrew Glanzman - CBRE Investment Management
• Seller: Patricia Will - Belmont Village Senior Living
• Address: 710 West Fullerton Parkway
• Market: Chicago

This transaction highlights the involvement of key stakeholders, with Adam Gallistel and Andrew Glanzman representing CBRE Investment Management as the buyers. Patricia Will acted on behalf of the seller Belmont Village Senior Living. This deal illustrates the increasing institutional interest in senior housing, particularly within the Chicago market.