Pike Senior Housing Partners LLC, a subsidiary of Pike Construction Co LLC, has announced the sale of Homestead at Hamilton Senior Living Community in Hamilton, NJ.
Pike Senior Housing Partners LLC developed and contracted the project. Pike also secured project financing.
Solvere Living partnered on the project, providing operator and marketing services.
The 24-acre, 195-unit community broke ground in 2015 and was completed in December 2017.
The Homestead at Hamilton provides rental housing and support services for seniors, from independent and assisted living to memory care. Currently, the facility has a 98% occupancy rate.
Inspired Healthcare Capital purchased the Homestead at Hamilton from Pike Senior Housing Partners LLC and Solvere Living on June 15, 2022, for approximately $98 million. Cushman & Wakefield represented Pike and Solvere in the sale of the property.
Pike Construction and Development is a family-owned company based in Paterson, New Jersey. Pike is a general contracting and real estate development firm established in 1958. Since its inception, the company has built more than 15,000 senior housing units ranging in project size from $10 million to over $150 million in total construction costs.
