CNL Health Care Properties Acquires Two Spectrum Retirement Communities

    DENVER, CO, October 01, 2015 /24-7PressRelease/ -- CNL Health Care Properties is pleased to announce the acquisition of two Senior Housing Communities that were developed by Spectrum Retirement Communities, who will retain management.

The two communities consist of an 86-unit AL/MC located in Lake Zurich, Illinois, a suburb of Chicago; and a 164-unit IL/AL/MC located in Albuquerque, New Mexico. The two communities were opened in 2014 and 2013, respectively, and both enjoy a 96 percent occupancy rate.

Denver-based Spectrum Retirement Communities, LLC, is considered a leader and innovator in senior living. Ranked in the top five senior living companies for excellence by its peers, the privately held company owns and operates 30 senior living communities in 12 states from New York to Oregon. Spectrum currently employs a staff of more than 2,000 and oversees more than 3,500 apartments. Celebrating its second decade of operations, the rapidly growing company has seven communities under construction and will manage 4,372 senior apartment homes in 2016. For more information, visit www.spectrumretirement.com.

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