Town Lane Announces the Addition of the Sheridan at Green Oaks to Growing Senior Housing Portfolio

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NEW YORK & ATLANTA--(BUSINESS WIRE)--Mar 2, 2026--

Town Lane ( www.townlane.com ), a real estate investment management firm, in conjunction with Arcole, its Senior Housing Platform, announced the acquisition of The Sheridan at Green Oaks, a 198-unit Independent Living, Assisted Living, and Memory Care community in Lake Bluff, Illinois. The community, which will be re-branded Modena Green Oaks post-acquisition, is well-situated along Waukegan Road in Lake County, IL, just east of Interstate 94, the main route to Downtown Chicago, less than three miles from Downtown Lake Bluff, offering proximity to healthcare options, premier golf and country clubs and only five miles from Advocate Condell Medical Center.

The transaction represents Town Lane’s fifth senior housing investment in its inaugural $1.25 billion real estate fund in partnership with Arcole, a recently launched senior housing platform that partners with experienced operators to acquire newer-vintage, full-continuum communities in high-growth markets. Solera, a deeply experienced Senior Housing operator led by CEO Adam Kaplan, will manage the property post-acquisition.

“We are excited to add Sheridan at Green Oaks to our growing senior housing portfolio under Arcole,” said Tyler Henritze, Managing Partner at Town Lane. “Lake Bluff along with much of the US continues to show strong demographic and demand fundamentals, and we remain focused on acquiring full continuum, modern assets that are supported by these tailwinds.”

“The Sheridan at Green Oaks aligns squarely with our strategy of building a portfolio of high-quality senior housing communities alongside managers we know and trust,” said Kelly Sheehy, Managing Partner of Arcole. “Our relationship with Solera spans more than 15 years and combined with Arcole’s more than 20 years of experience investing in senior living and Town Lane’s established investment platform, we believe this foundation will support strong performance at the community.”

“We are honored to welcome The Sheridan at Green Oaks to the Solera Senior Living portfolio,” said Adam Kaplan, CEO and Founder of Solera. “This acquisition reflects our strategic commitment to aligning with high-quality communities that share our dedication to exceptional hospitality, proactive and preventative wellness, and operational excellence. We look forward to supporting the residents, families, and team members as we continue to build on the strong foundation while thoughtfully enhancing the resident and team member experience.”

Built in 2016, the community encompasses more than 220,000 square feet on a 17-acre site in Chicago’s North Shore suburban market. Modena Green Oaks offers a full continuum of care and a comprehensive amenity set, including thoughtfully designed common spaces, full-service dining, fitness classes, creative workshops, housekeeping and laundry services, and robust resident programming.

About Town Lane

Town Lane is a boutique, relationship-driven real estate investment manager. Based in New York City, the firm invests thematically across commercial real estate sectors and throughout the capital stack. Town Lane was founded in 2024 after raising $1.25 billion of institutional investor capital targeting opportunistic returns for its inaugural fund. The firm seeks to identify emerging trends, evaluate misunderstood opportunities, and capitalize on episodic market dislocations.

About Arcole

Arcole is a healthcare real estate investment and operating platform focused on senior housing across the United States. The firm collaborates with experienced operators to acquire, reposition, and actively manage high-quality communities, with a commitment to operational excellence and long-term value creation. Arcole combines deep sector expertise, hands-on operating experience, and data-driven insight to capitalize on enduring demographic demand and the increasing need for modern senior housing and care. For more information, please visit www.arcolepartners.com.

About Solera Senior Living

Solera Senior Living, based in Denver, is an operator, developer and investor of next generation senior living communities across the U.S. Solera’s current portfolio features 15 distinctive communities – with offerings spanning Independent Living, Assisted Living and Memory Care – operating in Colorado, Illinois, Maryland, Massachusetts, Nevada, North Carolina, Pennsylvania, Texas, and Virginia. Solera has developed a reputation as an employer of choice and the leading provider for hospitality services, innovative technologies, and proactive and preventative health and wellness models. For more information visit SoleraSeniorLiving.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260302359819/en/

CONTACT: Media Contacts:

Town Lane

Aimee Work //[email protected] Senior Living

Al Sommers //[email protected]

KEYWORD: ILLINOIS NEW YORK GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSUMER SENIORS COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY REIT

SOURCE: Town Lane

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PUB: 03/02/2026 08:56 AM/DISC: 03/02/2026 08:56 AM

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