Foundry Commercial has expanded its senior housing footprint with the acquisition of three assisted living and memory care communities in Florida for a combined $52 million. The properties are located in Jacksonville, Titusville and Plant City, and form part of a broader senior housing portfolio transaction.
The Jacksonville community, situated on the city’s Northside at 1035 Starrat Road, opened in March 2023 and sold for $17.5 million. The recently delivered facility adds a newer-build component to Foundry’s senior housing holdings and anchors the Florida tranche of the transaction in a growing residential area of Jacksonville.
In addition to Jacksonville, Foundry acquired a senior living community in Titusville for $17 million. A third Florida property in Plant City traded for $17.5 million, bringing the total consideration for the three Florida assets to $52 million. All three communities provide assisted living and memory care services, aligning with ongoing demand for specialized housing options serving aging populations.
The seller of the Florida communities, Rimrock Companies, was represented in the transaction by Blueprint Healthcare Real Estate Advisors. Blueprint’s role as advisor highlights continued brokerage activity in senior housing investment sales, particularly for multi-asset portfolios that appeal to operators and investors seeking scale and operational efficiencies.
Upon closing, all three Florida properties are set to be operated by Allegro Living Management, a company affiliated with Foundry Commercial. The communities will be managed under Allegro’s Alto brand, consolidating operations under a unified senior housing platform and brand identity.
The Florida communities are part of a larger five-property senior housing portfolio that changed hands in the same transaction. In total, Foundry acquired a $77.75 million portfolio that also includes senior living properties in Warner Robins and Boynton Ridge in Georgia. The multi-state portfolio composition provides Foundry with a broader geographic footprint across the Southeast and increases the number of assisted living and memory care communities under its oversight.
The transaction underscores ongoing capital deployment into assisted living and memory care facilities, with investors and operators using portfolio acquisitions to build scale and deepen their management presence in key regional markets.
