Allegro Senior Living St. Augustine has sold for $54 million to Denver-based Healthpeak Properties Inc., a healthcare-focused real estate investment trust.
The property was sold through St. Louis-based KAPG St. Augustine Senior Housing OpCo LLC, the legally registered owner and licensee of the Allegro brand. Allegro Living is the third-party operational manager of the company’s approximately 50 senior living communities.
The 102,786-square-foot senior living facility is at 1101 Plantation Drive S.
According to its website, Healthpeak is an S&P 500 real estate investment trust founded in 1985 that owns, operates and develops healthcare-focused real estate, including outpatient medical and life science properties.
Its portfolio includes properties nationwide, including the UF Health North Medical Building in Jacksonville, Baylor Scott & White Charles A. Sammons Cancer Center in Dallas, Medical City Dallas Hospital Campus, Torrey Pines Science Park in La Jolla, California and Cambridge Discovery Park in Cambridge, Massachusetts.
The seller, Allegro Living, specializes in developing and managing senior living communities, including independent living, assisted living and memory care communities.
According to allegroliving.com, it operates communities throughout Florida, including Allegro St. Augustine, Allegro Fleming Island, Allegro Boynton Beach and Allegro Fort Lauderdale as well as communities in 13 other states.
The Allegro St. Augustine community no longer appears on Allegro Living’s online portfolio of communities and the property’s website and phone number are no longer active following the sale.