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Fundamental Advisors sells Chicago seniors housing community

Fundamental Advisors LP sold the Clare at Rush and Pearson seniors housing community in Chicago to LCS for an undisclosed sum.

Fundamental Advisors, in partnership with seniors housing experts at Senior Care Development LLC, and LCS bought the asset in a bankruptcy court auction in 2012.

The transaction values the property at approximately $105 million, The Wall Street Journal reported, citing people with knowledge of the matter. According to the report, an investment group led by Fundamental Advisors bought the 334-unit complex in 2012 for $53.5 million and lifted occupancy to roughly 100% after spending about $20 million on upgrades.