News
Orlando, Fla. (March 9, 2026) – Foundry Commercial today announced the completed acquisition of five recently built assisted living and memory care communities located across Georgia and Florida.
The acquired portfolio includes two communities in Georgia – located in Warner Robins and Boynton Ridge – which were acquired in October 2025, as well as three communities in Florida – in Jacksonville, Titusville, and Plant City – which were acquired in February 2026.
All five communities will be operated by Allegro Living Management under the company’s Alto brand. The portfolio comprises a total of 320 units, of which 220 are designated for assisted living services and 100 for memory care services. Each community features 44 assisted living units and 20 memory care units.
“These newer vintage assets, with an average age under five years, add depth to our existing operating footprint in the Southeast,” said Kevin Maddron, Foundry Commercial’s President of Healthcare Services. “They provide a quality living environment for our residents and a great place to work for our associates. We are thrilled to welcome them to the Allegro Living family.”
The acquisition represents another example of how Foundry’s platform strategically invests capital across sectors and markets. While diversified by design, the platform prioritizes assets supported by strong demographic trends and operational excellence.
Said Austin Maddux, Partner, Executive Managing Director of Foundry Investment Management, “We continue to see strong demand for well-located, purpose-built senior living communities that are in the ‘missing middle’ investment size range that our strategy targets throughout the Southeast. This portfolio enhances our presence in key demographic growth markets and supports our objective to build a resilient senior housing platform through strategic acquisitions below the cost to build them new today.”
Allegro Living Management, a Foundry Commercial affiliated company, will manage daily operations at each community, leveraging its experience in delivering elevated assisted living and memory care services. The Alto brand emphasizes high standards of care, resident-focused programming, and environments designed to support independence and wellbeing.
The addition of these five communities strengthens Foundry’s healthcare portfolio and reinforces its commitment to serving the Southeast region’s growing demand for quality senior living options. The seller, a regional developer, was represented in the transaction by Blueprint Healthcare Real Estate Advisors. For more information about Allegro Living and its Alto brand, visit www.allegroliving.com.