LCS acquires Wisconsin retirement community in joint partnership
BUSINESS RECORD STAFF Jan 11, 2016 | 9:27 pm
<1 min read time
118 wordsAll Latest News, Health and WellnessDes Moines-based retirement community company LCS has formed a joint partnership with fund manager ROC Seniors to acquire Newcastle Place, a 257-unit life plan community in Mequon, Wis. The transaction closed Dec. 14. The community was previously owned by a joint venture between LCS and Westminster Capital. Life Care Services, an LCS company, will continue to manage the community. Newcastle Place, which has been managed by Life Care Services since 2012, is located in an area with significant upward market potential, said Ed Kenny, chairman and CEO of LCS. ROC Seniors Housing Fund Manager LLC is a fund manager for a family of private equity funds that focus on investments in seniors housing and other health care properties.
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