The Palisades at Broadmoor Park was purchased earlier this week, although the sale isn’t final.
The assisted living facility located northwest of Colorado Highway 115 and South Academy Boulevard was purchased by Irvine, Calif.-based MBK Senior Living, a real estate group specializing in senior assisted living centers. The sale isn’t yet listed on the El Paso County assessor’s website, but occurred two days ago.
The sale was confirmed by officials at the University of Colorado at Colorado Springs (which had a partnership with the Palisades) as well as a Palisades employee, who said the facility has new management.
Executive Director Toby Gannett is no longer with the Palisades and declined to comment about the sale or his future plans.
Palisades owner Jeff Dunn also refused to comment about the sale. Dunn’s company, Dunn & Associates, owns several properties in Colorado Springs and Denver, according to its website. In Colorado Springs it owns the Fillmore Crossing retail center, Country Club Corners and Pikes Peak Plaza. In Denver it owns the Logan Building, Bear Valley West, Sherman Gardens and Big Chief Bottling.
MBK Senior Living is “actively involved in the acquisition, development and third-party management of high-quality senior living communities throughout the western United States,” according to the company’s website. “Led by Terry Howard…MBK currently owns or manages 16 independent living, assisted living and memory care communities in California, Washington, Utah and Arizona.”
The company most recently purchased Oakmont Gardens in Santa Rosa, Calif., a transaction that posted on its website Sept. 12.
Part of the Palisades appeal was its association with the University of Colorado at Colorado Springs and its geropsychology program, aimed at researching the psychology of aging and health issues. UCCS was a regular partner at the Palisades, providing both research and specific programs tailored to senior residents.
In a statement, Dr. Sarah Qualls, Kraemer Family Professor of Aging Studies and director of the Palisades project, said that the news was unexpected.
“The university recently learned of plans by Dunn and Associates, Inc., to sell the Palisades at Broadmoor Park,” she said in the statement. “While this was unexpected, the university takes great pride in this public/private partnership to develop new models of wellness in assisted senior living. In particular, new software systems and wellness models that integrate primary care, health promotion, and behavioral health demonstrate the effectiveness of this partnership. We hope to explore the possibility of continued collaboration between the university and the new owners of Palisades and value having a long-term care facility in which students and faculty work together to raise the standard of service in the industry.”