J
DI Realty, a Chicago-based private equity firm, has expanded its suburban real estate holdings with the acquisition of Evolve at Lake Zurich, a 120-unit assisted living community in Lake Zurich. The property was purchased from Pathway to Living, a senior housing operator under Waterton's control, for $24.5 million, or approximately $204,200 per unit.

    The deal is part of JDI Realty's strategy to capitalize on market opportunities created by the slowdown in construction and rising demand for senior living options. According to Adam Seidenberg, vice president of senior housing investments at JDI Realty, "With the aging baby boomer population driving demand and the slowdown in new construction, we see a unique chance to invest in well-located, high-quality communities."

    Financing for the acquisition included a $17.5 million loan from Old Second National Bank. This deal marks the latest in JDI Realty's history of real estate investments, which totals over $3 billion since 1988. The firm has also recently invested in other projects, including a $34 million acquisition of 164 townhomes across Chicagoland and a partnership with R2 Companies to purchase the Motorola Mobility campus in Libertyville for $35 million.