Chicago Fund Snags 202-Unit Aspens at Mariposa Point

A fund managed by Green Courte Partners LLC of Chicago bought its 11th senior housing property, the 202-unit Aspens at Mariposa Point. The fund, Green Courte Real Estate Partner IV LLC, entered the Phoenix market by acquiring the Gilbert, AZ asset from Aspens Senior Living, headquartered in Fort Worth, TX.

The new owner, along with its operating partner True Connection Communities, is planning upgrades to the property at 1505 Willis Rd., including expansion of the dining area, modifying the existing kitchen and adding a third-party-operated home health office.

“The Aspens at Mariposa Point is a strong addition to our rapidly growing senior living portfolio . . .,” said GCP’s Mark Pyzyk. “We were pleased to have the opportunity to acquire this community in an off-market transaction due to our established relationship with the seller.”

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