Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC (“Inland Acquisitions”) announced today that it negotiated and closed the purchase of two senior living communities, Deer Park Village in Deer Park, Illinois, and The Landings in Batavia, Illinois. Mark Cosenza, senior vice president of Inland Acquisitions, with assistance from Brett Smith, vice president and senior counsel of The Inland Real Estate Group, LLC, Law Department, completed the transaction on behalf of an Inland affiliate.
The transaction also marks a historic milestone for Inland: surpassing more than $1 billion in senior living acquisitions, totaling more than 20 communities in its senior living portfolio.
“As early post-pandemic investors in the senior living sector, we are thrilled to have acquired more than $1 billion in institutional quality assets with best-in-class operators over the past five years,” said Joseph Binder, chief investment officer for The Inland Real Estate Group, LLC. “In addition to the large U.S. population cohort aging into demand for senior living, we saw stabilizing operating margins and material headwinds to new supply. We anticipate these sector fundamentals will continue to support durable long-term performance for years to come.”
To date, Inland’s senior living portfolio is comprised of more than 3,100 units and more than 20 communities across Arizona, Colorado, Illinois, Kansas, Michigan, Minnesota, Missouri, New Jersey and Tennessee.
Deer Park Village, located at 21840 West Lake Cook Road in Deer Park, an upscale suburban village located about 35 miles northwest of downtown Chicago, was built in 2016 and consists of 188 units. The community provides a full continuum of care with 96 independent living units, 60 assisted living units and 32 memory care units. Deer Park Village features a full amenity package for residents with an indoor pool, outdoor deck, collective dining room, library, card room, fitness center, art studio, salon and barber, and wine bar, and is conveniently located near Citadel Health & Wellness and Co-Optim Health medical centers.
Deer Park Village was 92 percent occupied at closing.
The Landings, a 142-unit senior living community located at 2450 W Fabyan Parkway in Batavia, a city located 35 miles west of downtown Chicago, was constructed in 2021. Providing a full continuum of care, the community is comprised of 51 independent living units, 67 assisted living units and 24 memory care units. The Landings features high quality amenities including a large game room with a pub, a community lounge, a fully stocked craft room, a collective dining room, a fitness center, movie theater and outdoor patio for socializing.
The Landings was 95 percent occupied at closing.
“We have accelerated our senior living acquisition strategy as the need for these communities is rapidly increasing,” said Cosenza. “The aging U.S. population, regardless of health status, is expected to look for senior housing options that provide a range of services and amenities. Deer Park Village and The Landings were both attractive opportunities due to the full continuum of care each community provides.”
Dial Senior Living will continue to provide management services for both communities and its residents, further expanding its strategic relationship with Inland. Founded in 1999 and based in Omaha, Nebraska, Dial Senior Living is a fully integrated company that invests in, develops and manages senior living communities throughout the United States. The privately held firm offers a comprehensive range of senior living options including independent living, assisted living and memory care.
Since inception, Inland Acquisitions has facilitated more than $56 billion of purchases across all asset types, with a more recent focus on senior living, student housing, multifamily, self-storage and manufactured housing communities.
About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC (“IREA”) is the acquisition division of The Inland Real Estate Group of Companies, Inc. (“Inland”). Founded in 1968 by four Chicago public school teachers, Inland is one of the nation’s largest vertically integrated commercial real estate investment, finance, development and operating groups. For nearly six decades, Inland member companies have supported our investment, development, and finance products through an end-to-end suite of commercial real estate services spanning acquisitions, asset management, property management, and operations.
IREA assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of Inland. For more information, visit www.inlandgroup.com/irea.
