Oxford Capital Group, a Chicago-based real estate investment, development and management firm, has bought the Sherwood Portfolio, three senior housing properties totaling 256 units in Sequim, Wash, through a joint venture with funds managed by Fortress Investment Group LLC.
The properties are located in a regional retirement area known for its favorable climate and scenic views. The joint venture looks to invest over $8 million in enhancing the properties, with plans for expansion of the portfolio’s assisted living and memory care offerings. Oxford’s senior housing management affiliate, Oxford Living US LLC, will manage the properties.
“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,” comments Lawrence Cummings, Oxford Living president.