News
Orlando, Fla. (Feb. 10, 2026) – Foundry Commercial and Fortress Investment Group today announced the acquisition of two assisted living and memory care communities in Central Florida. The two communities – Alto Clermont and Alto Tavares – will continue to be operated by Foundry Commercial’s affiliated management company, Allegro Living, under its Alto brand. Allegro Living manages 55 senior living communities in 14 states. The acquisition of these communities was completed by Foundry Commercial and funds managed by affiliates of Fortress Investment Group (“Fortress”) and represents Foundry’s second transaction with Fortress across four communities.
The Alto communities combined have 180 assisted living units and 72 memory care units, with an operating capacity of 260 residents. Alto Tavares opened in 2012, and Alto Clermont opened in 2014. Allegro Living plans on making interior improvements for both properties in the near future, with committed funding from Foundry Commercial and Fortress.
“We are pleased to continue our involvement with these two communities that we have managed for since 2017,” said Doug Schiffer, Allegro Living’s President and CEO. “We look forward to serving the residents and their family members for years to come while welcoming our second acquisition and fourth community with our Fortress relationship”.
Both communities are recognized in Central Florida as being a trusted leader in senior living and memory care services and have proudly been named U.S. News & World Report Best Senior Living award winners in 2023, 2024, and 2025. Each community offers personalized support tailored to individual needs, along with thoughtfully designed residences, chef-prepared dining, and engaging lifestyle programming that promotes connection, purpose, and well-being. With dedicated care teams, innovative memory care approaches, and a strong focus on hospitality, Alto Tavares and Alto Clermont provide residents and their families with peace of mind in a warm, vibrant, and supportive environment.
“We have a long, successful history with both communities. Our hard-working and caring associates will continue to deliver a great experience for our residents, extending our commitment to quality care and innovation. These are two great assets among our growing footprint in Florida,” said Zach Strunk, Chief Asset Officer for Allegro Living. “We look forward to building on our strong reputation with an established investment partner.”
“This acquisition continues Foundry Commercial’s investment in high quality, well positioned assets in the markets we know best. These two communities further expand our ownership footprint in Florida as we continue to look for growth in markets we know well,” said Kevin Maddron, Foundry Commercial’s President of Healthcare Services. “With over 5,000 units under management, we look to continue our growth in the eastern portion of the U.S. through acquisitions, third-party management, and development.”
“The Alto Clermont and Alto Tavares communities are in desirable, growth-oriented markets, and have consistently performed over time,” added Peter Stone, Head of Healthcare Real Estate Equity at Fortress. “The properties represent a fantastic opportunity to acquire high-quality assets for our senior housing portfolio. We look forward to working with the Allegro Living operating team and Foundry on our plan to offer further improved services for residents.”
The seller was represented by JLL Seniors Housing Capital Markets. For more information about Allegro Living and its Alto brand, visit www.allegroliving.com.
About Foundry Commercial:
Foundry Commercial is a full-service commercial real estate services and investment company operating across office, industrial, retail, multi-family, healthcare, religious, and not-for-profit asset classes and clients. Focused on the Sun Belt markets, Foundry is sustained by more than 4,000 associates operating from 12 markets, providing leasing and management on more than 77 million square feet and over 4,590 seniors housing units, typically executing over $2 billion in leasing, tenant rep, and investment sale transactions annually. Foundry’s development and investment platform is fully integrated with its services business and is currently invested in over $4.8 billion in joint ventures with many of the best-known institutional investors in the country. For more information, visit www.foundrycommercial.com.
About Allegro Living:
Allegro Living develops and manages senior living communities across the Mid-Atlantic, Southeast, and Midwest, bringing more than 45 years of experience serving older adults and their families. Through its Allegro, Alto, and Spring Arbor brands, Allegro Living offers resident-centered lifestyles focused on wellness, connection, and personalized support, including assisted living and memory care. Learn more at www.allegroliving.com.
About Fortress Investment Group:
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $54 billion of assets under management as of September 31, 2025, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts. For more information, visit www.fortress.com.