Healthpeak Properties Buys Evanston Senior Living Center
The real estate investment trust acquired the nine-story Trulee Evanston facility for over $79 million.
Updated on Oct. 27, 2026 in Healthcare
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Healthpeak Properties purchased the 160-unit Trulee Evanston senior living community in September 2026. The transaction for the site at 1815 Norwood Court was brokered by Berkadia.
Why it matters
The acquisition expands the portfolio of Healthpeak Properties, which now owns approximately 700 properties across its national network. The facility will continue to be managed by Solera Senior Living.
The nine-story Trulee Evanston property contains 160 residential units and was sold for just over $79 million. This figure follows the site's original development cost estimated at $75 million.
The players
Healthpeak Properties
Healthpeak Properties is a real estate investment trust that owns approximately 700 properties.
AEW Capital Management
AEW Capital Management is a Boston-based investment firm that previously owned the Evanston senior living community.
Solera Senior Living
Solera Senior Living is a Denver-based operator responsible for the building management at the Trulee Evanston site.
Berkadia
Berkadia is a commercial real estate firm that brokered the sale transaction for the senior living facility.
The details
AEW Capital Management sold the senior living community to the real estate investment trust. The sale of the property, located in Evanston, was formally documented in records held by the Cook County Clerk's office.
Timeline
Plans for the facility were first unveiled in 2015.
The building opened for residents in 2021.
The property was sold in September 2026.
Market Landscape
The transaction reflects broader consolidation trends within the senior housing sector as institutional investors acquire stabilized, newly developed assets. This purchase shifts ownership of a significant local property toward a national owner with a portfolio of 700 properties.
Residents and their families can expect building operations to remain under the management of Solera Senior Living. The change in property ownership does not alter the current service offerings or daily functions at the 1815 Norwood Court community.
The takeaway
Large-scale ownership changes in senior housing often result in stable day-to-day operations for residents when existing management teams remain in place. Families interested in these facilities should monitor for changes in management contracts during future ownership transitions.
Further reading
For more information on facility standards and industry updates, visit Evanston Healthcare.
Source note: This article includes information reported by Evanston Now.
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