Trulee Evanston sells for $79 million to real estate investment trust
Gregory Lee has 6 years of experience as a business journalist, holding a degree in Business Administration from Loyola University Chicago. He previously reported for Crain's Chicago Business, where he focused on the evolution of small businesses in urban areas.
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Boston-based AEW Capital Management sold the retirement complex Trulee Evanston, 1815 Norwood Court, to real estate investment trust Healthpeak Properties on Sept. 1 for $79 million, Cook County Clerk property records indicate. The new Trulee high-rise at Ridge Avenue near Emerson Street is included in the Five Fifths TIF district. Credit: Evanston Roundtable Berkadia, the commercial real estate firm that brokered the sale, announced the sale in a Sept. 8 press release. The 160-unit, nine-story building is run by Denver-based Solera Senior Living, which will continue operating the community under the new ownership, according to the release. The building offers 127 independent or assisted living units and 33 memory care units. “Trulee Evanston represents a differentiated, high-quality seniors housing asset in one of Chicagoland’s most desirable and supply-constrained submarkets,” Dave Fasano, senior managing director at Berkadia, said in the release. “The community’s luxury