Ziegler, a Chicago-based specialty investment bank, acted as the exclusive financial advisor for Marquee Capital (formerly known as Berengaria Development) in the sale of BrightStar Senior Living Fort Wayne. This 41-unit assisted living and memory care center is located in Fort Wayne, Indiana and was developed by Marquee Capital. Since its opening in 2018, it has been operated by BrightStar Senior Living.
The property spans over 3.25 acres and is situated in the Pine Valley neighborhood just eight miles north of downtown Fort Wayne. Recently purchased by Lutheran Life Villages (LLV), an organization that manages five senior communities across Fort Wayne and Kendallville, this community will now be under their operation.
According to Nick Glaisner, managing director at Ziegler: “Lutheran Life Villages is an ideal successor for both residents and staff at Brightstar.” Through a targeted marketing process conducted by Ziegler on behalf of Marquee Capital, negotiations resulted in pricing based on historical cash flow with a capitalization rate of six percent.
