Phorcys Capital Partners, LLC Acquires Prosper at Wickliffe, Expanding Senior Living Portfolio
2024年4月23日 - 11:00PM
Phorcys Capital Partners, LLC ("PCP"), the investment advisor to
Phorcys Senior Housing Recovery Fund LP (“SHRF”), has announced its
acquisition of a 160-unit assisted living facility in Wickliffe,
Ohio, through a trustee-directed short sale for $13.0 million. The
community will be rebranded as “Prosper at Wickliffe” and will be
managed by Prosper Life Care.
Prosper at Wickliffe“We are delighted to
announce the acquisition of Prosper at Wickliffe and look forward
to our shared goal with Prosper to bring affordable top-rate care
for seniors in the surrounding community,” said Vasileios Sfyris,
Managing Partner of PCP. “This is our second investment in SHRF,
and we will continue to focus on the winding down of muni-financed
bond transactions to add additional assets to our senior living
portfolio.”
Prosper at Wickliffe is an assisted living facility, comprised
of 160 studio and one-bedroom units. It is located in Wickliffe,
Ohio, a community situated on the shoreline of Lake Erie.
Prosper Life Care aims to provide affordable care that not only
improves the quality of life for its residents, but for the staff
as well.
“Prosper at Wickliffe will continue the tradition of providing
outstanding care to the residents of Wickliffe, OH and surrounding
communities,” said Prosper Life Care President Russ Papia. “Our
partnership with Phorcys Capital Partners allows us to carry out
our company's mission of providing affordable housing and care
through reasonable rental prices and Medicaid assistance
programs.”
About Phorcys Capital Partners LLCPCP is an
alternative asset manager, with a focus on investing in distressed
municipal bonds and acquiring the real assets secured by municipal
bonds. PCP has historically focused on senior living, multifamily
housing, student housing, and hospitality. Since inception, PCP has
invested approximately $125 million in senior living and
approximately $400 million across all sectors.
About Phorcys Senior Living Recovery Fund
LPSHRF is a closed-end vehicle that acquires distressed
and/or overleveraged senior living assets, which include but are
not limited to age-restricted apartments, assisted living, and
CCRCs, which were originally financed by municipal bonds or bank
loans. SHRF focuses on investing opportunistically in newer vintage
assets that require limited capital expenditures. The Fund was
launched in July 2023.
About Prosper Life CareProsper
Life Care is a healthcare management company specializing in
affordable assisted living and memory care. With a passion for
providing exceptional care for its residents, Prosper Life Care is
focused on improving the quality of life for its residents and care
teams. With more than 30 years of experience in
healthcare, Prosper Life
Care (prosperlifecare.com) operates senior care homes in
Massachusetts and Ohio.
Phorcys Capital Partners, LLCMatt
Doss770-777-9373mdoss@phorcyscp.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/25a97dce-cdf1-49d1-8ed6-e22070c03557