Hamister Group, LLC Closes on Northshore Heights, LLC
November 08, 2018
Buffalo, N.Y. – Hamister Real Estate Equity Fund III, LP. (Fund III), a private real estate fund sponsored by Hamister Group, LLC, is excited to announce the acquisition of Northshore Heights, LLC (Formerly Northshore Senior Living Community) a 69 unit assisted living and memory care facility in Knoxville, Tennessee.
The property, designed to resemble a high-end lodge, celebrated its grand opening in December of 2016 on a 7.5-acre site and includes 69 suites and apartments available for assisted living, plus a wing dedicated to specialized memory care. There are an array of amenities including fine dining, putting green and many social activities on the large patio which overlooks a tranquil 50 ft. water feature. The acquisition marks the first acquisition of Hamister’s third private equity fund.
“We are excited to add Northshore Heights to the Hamister portfolio of properties. Northshore offers a great opportunity for us to use our 41-years of experience owning and operating best-in-class senior living facilities,” said Dan Hamister, CIO. “We look forward to announcing additional acquisitions and development projects in both the senior housing and middle-market hotel space over the course of the coming year as we seek to expand our portfolio.”
About Hamister Real Estate Equity Fund III, LP (Fund III):
Hamister Real Estate Equity Fund III, LP is a private real estate fund designed to offer investors both growth and cash-flow oriented, tax-advantaged investment vehicles through a diversified portfolio of middle-market hotels and senior housing facilities which have historically been resistant in recessionary markets.
Fund III, which is sponsored by Hamister Group, LLC, remains open for investment by accredited investors only, with a minimum initial investment of $100,000. Investment is offered strictly via private placement memorandum. For additional information and certain disclosures regarding Hamister Real Estate Equity Fund III please visit Hamistergroup.com/investments.
Hamister Group, LLC is a recognized leader in healthcare and hotel management, with over 40 years of history and an exceptional record of business success. We focus on providing exceptional service for our customers and have earned a sterling reputation for delivering superior management results. www.hamistergroup.com