Loop Investments Acquires Senior and Assisted Living Center in Southfield, MI for $12 million
Loop Investments is pleased to announce that it has acquired The Fountains at Franklin senior and assisted living facility in Southfield, Michigan. The purchase price was $12 million. The Fountains is one of only a few communities in this large metropolitan market allowing residents the opportunity to age in-place without the concern of a potential relocation if health deteriorates. The facility is a three-story building containing 345 units. Management services are provided by Presbyterian Villages of Michigan, a local premier senior living provider with over 70 years of experience in independent living, assisted living, skilled nursing care, respite care, and community based services. Loop plans to improve curb appeal, as well as add more services, through a large capital investment along with strong local operational experience.