Oxford Capital Group Announces Acquisition of Eleven Seniors Housing Communities Across Minneapolis and Northern Minnesota Markets

CHICAGO, IL - Oxford Capital Group announced its acquisition of the Carefree Portfolio, eleven seniors housing properties totaling 489 units in the Minneapolis area and northern Minnesota. An affiliate of Oxford acquired the properties from an independent operator. Oxford's senior housing management affiliate, Oxford Living US, LLC, will manage the properties. Terms of the transaction were not disclosed.

"We are excited to continue to expand our senior housing silo as we strategically assemble a portfolio of properties throughout the United States and Canada," said John W. Rutledge, Founder, Chairman & CEO of Oxford Capital Group, the Chicago based investor, manager, and developer, as well as Chairman of Oxford Living. "Oxford Living has made targeted senior housing acquisitions and investments in a number of growing markets throughout the southeastern United States, the Pacific northwest and Canada, including Florida and Ontario. Our Minnesota acquisition fits well into our acquisition strategy. We plan further portfolio acquisitions in these and other markets."

"While most institutional investors focus on high-end development in urban centers, our strategy is to buy overlooked mid-market properties which are dependable, comfortable and affordable," said Oxford Living President Lawrence Cummings, who has over thirty years of experience in seniors housing management, operations and development. "We have been warmly received by the resident community in the properties we are acquiring, as well as by the civic leadership in the Minnesota markets in which we are investing. We look forward to continuing to fulfill the properties' mission to serve their residents and surrounding communities."

Oxford Living focuses on high private pay senior housing properties in both primary and important secondary markets throughout the United States and Canada. Acquisitions focus on markets with compelling demographics and properties with significant value-add potential.

The eleven property Carefree Portfolio totals 489 units located in the greater Minneapolis area, Duluth and other markets in northern Minnesota. Oxford will invest several million dollars in the coming years enhancing the properties and will add services in several of the properties as needed.