'We are thrilled to welcome Legacy Reserve to the KIRCO portfolio,' said Matt Coughenour, VP Senior Living at KIRCO.

With current occupancy at 100% and an average occupancy of 96% over the past three years, the community has truly established itself as the top choice for seniors seeking a luxurious and comfortable lifestyle in the Lexington area. Legacy Reserve has consistently demonstrated strong performance and maintained an exceptional occupancy rate. The community's prime location on the corner of main and main roadways, adjacent to the area's leading high-end retail center, positions it as the market leader in terms of quality, operations, and overall performance. As the 'Horse Capital' of the world and home to the prestigious University of Kentucky, Lexington offers a dynamic and culturally rich environment for residents. Located within the thriving metropolitan area of Lexington, KY, Legacy Reserve benefits from the region's robust economic growth and increasing population.

With this acquisition, KIRCO has also assumed the in-place agency debt at an attractive interest rate well-below market. The successful acquisition of Legacy Reserve highlights KIRCO's partnership with Blueprint, a leading investment sales broker in the senior living market. The range of care offered meets the diverse needs of its residents and provides a model for continuity of care as needs may change. Built in 2017, this state-of-the-art community boasts 167 units, including 114 independent living, 38 assisted living, and 15 memory care units. The community provides a range of high-quality amenities, services, and care options, allowing residents to live comfortably and enjoy their senior years to the fullest. Legacy Reserve at Fritz Farm is a core, stabilized class-A property that offers a luxurious and vibrant lifestyle for seniors.

The acquisition of this asset at materially below replacement cost further strengthens KIRCO's presence in the senior living market and enhances its commitment to providing exceptional living experiences for seniors. Troy, MI, J(GLOBE NEWSWIRE) - KIRCO, a nationally recognized full-service investment and real estate company with a focus in senior living, is pleased to announce the successful acquisition of Legacy Reserve at Fritz Farm, a premier senior living community located in Lexington, KY.

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