Major Renovation Scheduled for Established Senior Living Facility in St. Louis’ Premier Neighborhood
Hyder & Company and Strategic Capital Partners acquire 90-unit assisted/independent living facility in St. Louis area
St. Louis, Missouri, May 29, 2007—Senior living continues to gain interest around the Midwest with the acquisition of 90 apartments in St. Louis by Steve Margetic, owner of Hyder & Company—a San Marcos, California-based real estate company—and Maurice Arbelaez, a predominant leader in the healthcare industry based in Overland Park, Kansas. The acquisition was completed in partnership with a commingled fund managed by Strategic Capital Partners (SCP), a real estate investment management company based in Chicago, Illinois.
The Brentmoor is located at the intersection of I-170 and Delmar Blvd. in University City, Missouri, just minutes from downtown Clayton. The property contains 90 units (72 independent living and 18 assisted living) which are 93% occupied. The immediate plan is to implement several capital improvements which will improve the asset both structurally and cosmetically.
“Maurice Arbelaez and I have been familiar with this property for many years, and when the opportunity became available, we did not hesitate to acquire it,” said Steve Margetic of Hyder & Company. “The location is excellent and once we have completed renovations, the Brentmoor will remain a considerable force in the marketplace for many years to come.”
Added Robb Bollhoffer, Vice President of Acquisitions at Strategic Capital Partners, “SCP is pleased to have Steve and Maurice, both leaders in the healthcare industry, as partners in Brentmoor. The planned renovation will upgrade
the facility, bringing a higher level of care to the residents.”
Arbelaez & Margetic have more than 40 years combined experience in the senior housing and healthcare sectors, encompassing development of 20+ senior projects and management of more than 12,500 units. The development of innovative levels of care, combined with their passion for quality of care, has resulted in a reputation for excellence in the improvement of the residents’ quality of life and the property’s financial performance.
For more information on other RCMG projects, call 925.355.3290 or visit www.rcmginc.com.
Strategic Capital Partners, LLC (SCP) is a privately-held, real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties via joint ventures with experienced real estate operators. SCP is focused on properties across the United States that can be repositioned, re-leased and/or redeveloped. The company is headquartered in Chicago with offices in Indianapolis and New York. Learn more about SCP at www.StrategicCapitalPartners.net.