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Oxford Capital Group, LLC (“Oxford Capital”) today announced its acquisition of the Sherwood Portfolio, three senior housing properties totaling 256 units in Sequim WA, through a joint venture with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The venture acquired the properties from an independent family operator. Oxford’s senior housing management affiliate, Oxford Living US LLC, will manage the properties. Terms of the transaction were not disclosed.
“We are excited to continue to expand our senior housing silo as we strategically assemble a portfolio of properties throughout the United States and Canada,” said John W. Rutledge, Founder, Chairman & CEO of Oxford Capital Group, LLC, the Chicago based investor/manager/developer. “Oxford Living has made targeted senior housing acquisitions and investments in a number of growing markets throughout the southeastern United States and Canada, including Florida and Ontario. We plan further portfolio acquisitions in these and other markets.”
“We are excited to partner with an extremely talented Oxford Living team, and we see significant valuation and operational upside potential in the Sherwood Portfolio,” said Fortress Managing Director Peter Stone. “This transaction builds further on our strategy of acquiring senior housing assets with scale in attractive demographic areas that are well-positioned to weather an inflationary environment.”
“While most institutional investors focus on high-end development in urban centers, our strategy is to buy overlooked mid-market properties which are dependable, comfortable and affordable,” said Oxford Living President Lawrence Cummings, who has over thirty years of experience in seniors housing management, operations and development. “We have been warmly received by the resident community in the properties we are acquiring, as well as by the civic leadership of Sequim, and we look forward to continuing to fulfill the properties’ mission to serve their residents and surrounding communities.”
Oxford Living focuses on high private pay senior housing properties in both primary and important secondary markets throughout the United States and Canada. Acquisitions focus on markets with compelling demographics and properties with significant value add potential.
The three property Sherwood Portfolio totals 256 units located in Sequim, WA which is a regional retirement mecca known for its favorable climate and scenic vistas. The venture will invest over $8.0 million in enhancing the properties, with plans for a significant expansion of the portfolio’s assisted living /memory care offerings.
Oxford is a Chicago-based international real estate private equity investment, development and management firm with a historic focus on operationally intensive forms of real estate, including the senior housing, hospitality and multi-family sectors. Oxford has sponsored, co-sponsored and/or invested in over $4.0 billion in senior housing and hospitality assets.
About Oxford Capital Group, LLC and Oxford Living, LLC
Oxford Capital Group, LLC is an award-winning international real estate investment, development, and management firm that focuses on large-scale acquisitions, developments, and redevelopments of operationally-intensive real estate. Oxford, its affiliates, and principals have been involved in over $4 billion of real estate and private equity investments, with a primary focus on hospitality (16,000+ hotel rooms); senior housing (4,000+ units); hospitality anchored mixed use projects including multi-family (2,000+ units); urban retail; and parking.
Oxford Living, LLC oxfordliving.ca is its wholly owned senior housing subsidiary which manages Oxford’s growing portfolio of strategically located independent, assisted and memory care properties.
Oxford and/or its principals’ senior housing investments are or have been located throughout Ontario Canada, as well as Miami and other markets in Florida, Ohio markets, including Cleveland, Columbus, and Youngstown; various markets in Virginia, Georgia, Vermont and Tennessee, as well as several markets in Oregon, including Bend and Eugene. These transactions include investing in and developing/redeveloping and managing skilled nursing, assisted living, independent living and memory care facilities.
In the hotel area, Oxford’s geographic focus includes the nation’s top metropolitan areas: Boston, Chicago, Detroit, Los Angeles, Phoenix, Miami, New York City, Portland OR, San Francisco, Seattle, Tampa, metro Washington D.C., select resort markets, and other markets with unique attributes including Charleston, SC. For information, visit www.oxford-capital.com.
About Fortress Investment Group
Fortress is a leading, highly diversified global investment manager with over $44 billion of assets under management as of June 30, 2022. Founded in 1998, Fortress manages assets on behalf of over 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
