On March 9th, StoneRidge LPC was acquired by ROC Seniors Housing, an experienced senior living investment private equity manager, in joint-venture partnership with Life Care Services LLC. StoneRidge is a 270 Independent Living Unit entrance fee Life Plan Community (LPC) located on 28 acres in Stonington/Mystic, successfully developed in three phases. StoneRidge represents another successful investment sold by a joint-venture partnership among Westminster Fund III LP (46.75%), Westminster Fund IV LP (38.25%) and Life Care Services LLC (15%).
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital. Private client work includes leadership of closed-end investment fund and separate account portfolios totaling approximately $700 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them with new construction, by careful investment underwriting and pursuit of well-funded tenants motivated by powerful long-term secular changes in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.