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Virtus Capital acquired Park Place at Heritage Village at 29250 Heritage Parkway in Warren, MI, from for $20.8 million, or about $104 per square foot.

The 200,000-square-foot, 136-unit building was constructed in 2007.

This is the ’s first investment into the senior living asset class. At the time of , the facility was 97.3 percent occupied.

Philip Ruggeri of Philip P. Ruggeri & Associates represented the and Justin Wynter of Virtus Real Estate Capital represented the buyer.

Please see CoStar #2649231 for more information.

Source:  http://www.costar.com/News/Article/Warren-Senior-Living-Facility-Fetches-$208-Million/146567

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