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Ziegler Serves as Advisor on Sale of IN Senior Living Community
Ziegler, a Chicago-based specialty investment bank, served as the exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of BrightStar Senior Living Fort Wayne, a 41-unit assisted living and memory care center located in Fort Wayne, Indiana.
The community was developed by Marquee Capital and has been operated by BrightStar Senior Living since it opened in 2018. The 3.25-acre property is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne.
Marquee Capital is a real estate company affiliated with Marcus Investments, LLC. Lutheran Life Villages (LLV), an organization that runs five senior communities across Fort Wayne and Kendallville, recently purchased the property and took over operations.
Nick Glaisner, managing director at Ziegler, said, “Lutheran Life Villages is the ideal successor for Brightstar residents and staff.” Ziegler conducted a focused marketing process for the property and negotiated pricing that represented a 6 percent capitalization rate based on historical cash flow.
