A 102,786-square-foot senior-living property in St. Augustine has changed hands for $54 million, putting the local care community under the ownership of a major healthcare real estate investor. The sale adds a sizable Northeast Florida property to a national senior-housing market that has been attracting increasingly serious institutional money.
According to Jax Daily Record, Denver-based Healthpeak Properties Inc. purchased Allegro Senior Living St. Augustine on Friday. The property was sold through St. Louis-based KAPG St. Augustine Senior Housing OpCo LLC, the legal owner and Allegro brand licensee, at its Plantation Island Drive South location.
The transaction involves the real estate behind a community that has offered independent and assisted living in St. Augustine. Allegro’s community page describes the property as a senior-living campus with independent- and assisted-living options, resort-style grounds and multiple apartment layouts.
What The Sale Means For Residents
Public reports reviewed for this story did not identify a new operator or announce changes to residents, employees, services or daily programming. That leaves the immediate operational picture unclear, even though the ownership change itself is now public.
Before the reported sale, the Florida HealthFinder profile listed KAPG St. Augustine Senior Housing OpCo LLC as the owner and Allegro Management Company as the management company. The state profile also listed 46 licensed beds and a license effective March 17, 2026, though regulatory records can take time to reflect changes after a property closes.
Healthpeak Is Making A Bigger Senior-Housing Bet
The St. Augustine purchase comes as Healthpeak expands its presence in senior housing beyond its better-known medical-office and life-science holdings. In a May 5 update, Healthpeak said it had closed senior-housing acquisitions totaling $714 million across 25 communities during the first quarter, with those assets contributed to Janus Living as part of its formation transactions.
Based on the reported price and square footage, the St. Augustine deal works out to roughly $525 per square foot, before accounting for financing, operating performance or other transaction terms. For the local market, the sale puts a prominent senior-living property into the portfolio orbit of a national real estate player while leaving the next chapter for the campus’s branding and management to be determined.
