Solera broke ground last October on Modena Reserve at Kensington, a $75 million, 135-unit community in Kensington, Maryland with independent living, assisted living and memory care, in a partnership with Chicago-based real estate developer, McCaffery Interests.
Modena Reserve is McCaffery’s first venture into senior living, and CEO Dan McCaffery told SHN it is only the beginning. The McCaffery-Solera JV is close to securing a second site in the Washington, D.C. market and is scouting other opportunities in what may eventually become a $500 million development pipeline.
