Kandu Capital, LLC and its operating company, Bloom Senior Living, have acquired a new senior living community in Kokomo, IN from a subsidiary of publicly-traded Capital Senior Living Corporation. The 78-unit assisted living/memory care facility changed hands for $5.5 million.
“This acquisition follows our strategic approach of selectively acquiring and managing well-located, value-add communities that fit within our existing portfolio,” said Bloom’s director of acquisitions, Bradley Dubin. The property, Bloom’s third in Indiana, has rebranded from Wellington at Kokomo to Bloom at Kokomo.
Added Scott Kantor, Bloom’s director of operations, “While the community was previously owned by a national provider and has been the premier provider of assisted living and memory care services in the Kokomo market, we have a well-defined plan to ensure the community is consistent with our unique ‘family owned and operated’ operating style.”
Tim Cobb of Berkadia represented both seller and buyer on this transaction.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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