News
Harrington Park, N.J. and Tampa, Fla. (Oct. 1, 2026) – As demand for high-quality senior living continues to grow, Foundry Commercial, alongside leading institutional capital partner AEW, has acquired premier communities in New Jersey and Florida, adding two best-in-market properties to its growing senior living portfolio.
The acquisitions include Allegro Harrington Park, a 173-unit full-continuum senior living community developed by Allegro in Harrington Park, N.J., and Allegro Hyde Park, a 136-unit community in Tampa’s Hyde Park neighborhood. Both communities were previously operated by Allegro Living, Foundry Commercial’s wholly owned senior living management platform and are recognized among the highest-quality communities in their respective markets. Allegro Living will continue to operate both communities.
Delivered in 2021, Allegro Harrington Park offers a full continuum of independent living, assisted living, and memory care in Bergen County, approximately 20 miles from Manhattan. Allegro Hyde Park includes independent living and assisted living residences in one of Tampa’s most established and sought-after neighborhoods.
“These two exceptional communities represent the caliber of senior living opportunities we want to operate and pursue,” said Kevin Maddron, President of Healthcare Services for Foundry Commercial. “Allegro’s role in developing and operating these communities, with an uncompromising focus on quality and care, has made them both highly recognized in their markets. Because we know these properties, their operations, and their markets so well, we have tremendous confidence in what they offer today and their potential for the future.”
“This investment reflects the type of opportunity we look for as we continue to grow our senior living portfolio,” said Pryse Elam, Chief Investment Officer for Foundry Commercial. “These are exceptionally well-built, well-operated communities in attractive markets, with strong fundamentals and long-term potential. Having that level of conviction in the assets and their operations made this a compelling opportunity to deploy capital, and completing both transactions represents a meaningful investment in the continued growth of our senior living platform.”
Allegro Living will continue to oversee day-to-day operations at both communities, providing continuity for residents, families and associates while drawing on the company’s experience operating senior living communities across multiple states. For more information about Allegro Living, visit www.allegroliving.com.