News
Charlottesville, Va. (September 18, 2025) – Foundry Commercial and Fortress Investment Group today announced the acquisition of the RoseWood Village Assisted Living and Memory Care communities in Charlottesville, Virginia. The two communities – RoseWood Village at Greenbrier and RoseWood Village at Hollymead – will be operated by Foundry Commercial’s management company, Allegro Living, under its Spring Arbor brand. With the addition of the two communities, Allegro Living expands its footprint to 54 senior living communities in 14 states. The acquisition of the communities was completed by Foundry Commercial and funds managed by affiliates of Fortress Investment Group (“Fortress”).
The Greenbrier and Hollymead communities combined have 104 assisted living units and 62 memory care units and were constructed in 2001 (expanded in 2018) and 2008, respectively. Allegro Living plans on making interior improvements for both properties in the very near future, with committed funding from Foundry Commercial and Fortress.
“With the addition of these two communities, we expand Allegro Living’s owned and managed communities in Virginia to 10 assets under our Spring Arbor brand,” said Doug Schiffer, Allegro Living’s President and CEO. “We look forward to serving the residents and their family members for years to come and are excited to welcome the dedicated associates as part of the Allegro Living family”.
RoseWood Village has been a trusted leader in senior living in the Charlottesville community since 1983. Founded by Sameer and Virginia Tahboub when they recognized the need for seniors to receive assisted care in a warm, supportive environment. RoseWood began with a single location on Park Street with 22 residents. Over the years, it grew into a pioneering model of senior living, offering two vibrant communities, Greenbrier Drive and Hollymead Town Center where seniors could receive personalized care, thrive, socialize, and truly feel at home.
“RoseWood Village has long been known for its commitment to quality care and innovation, and we are honored to carry that legacy forward,” said Zach Strunk, Chief Asset Officer for Allegro Living. “Our focus is on maintaining the standards of excellence established by the Tahboub family while also introducing new resources and programming that will enhance the resident experience. We look forward to building on their strong foundation and continuing a vibrant place to live and work in the years ahead.”
“Foundry Commercial continues to invest in high quality, well positioned assets in the markets we know best, and these communities add to our extensive footprint across Virginia,” said Kevin Maddron, Foundry Commercial’s President of Healthcare Services. “Including Foundry’s partnership with Cascadia Senior Living in the Pacific Northwest, our collective communities now reach 17 states with nearly 5,800 units.
“The RoseWood Village communities are well located in desirable Charlottesville, near the University of Virginia, and have consistently demonstrated strong demand,” 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 team at Foundry to deliver 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 Spring Arbor brand, visit www.SpringArborLiving.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 is a premier senior living operator and developer with 54 communities in 14 states comprised of approximately 4,800 units. With offices in St. Louis, MO, Orlando, FL and Raleigh, NC, Allegro Living offers a full continuum of services and lifestyle options to meet the needs of seniors across the eastern United States. Allegro Living resulted from a merger of Spring Arbor Management and Allegro Living Management in March 2025. For more information, visit www.allegroliving.com.
About Fortress Investment Group:
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $53 billion of assets under management as of June 30, 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.
Media contacts
Foundry Commercial: Lauren Leetun, lauren.leetun@foundrycommercial.com
Fortress Investment Group: Mark Lane, mlane@fortress.com