Citrine Investment Group Completes Sale of River Glen Senior Living Community in Illinois
Citrine Investment Group has completed the sale of its senior living community, River Glen of St. Charles, located in St. Charles, Illinois. The company acquired the property in January 2023 and executed a multi-year repositioning strategy that included transitioning independent living townhomes from an entrance-fee model to market-rate rentals and implementing strategic capital improvements. The sale follows successful operational enhancements such as flooring renovations, common area updates, and improved occupancy rates. Citrine's founder emphasized the importance of balancing resident care with financial execution during this transition period. The transaction adds to Citrine’s growing track record in revitalizing underperforming senior housing communities across the U.S.
Topics: asset sale investment strategy real estate senior housing