ST. LOUIS — A St. Louis senior living operator acquired the real estate of a Metro East memory care facility for $4.42 million.
Nonprofit Lutheran Senior Services announced in January that it had acquired San Gabriel Memory Care in Glen Carbon, owned by Effingham, Illinois-based San Gabriel Memory Care Inc., a company of siblings John Dietzen and Carrie Dietzen. The property was purchased from Sacred Heart Holdings, an affiliate company with John Dietzen listed as the contact in Madison County records.
The Dietzens invested $3.2 million in 2017 to open the Glen Carbon facility at 241 Magnolia Drive and Commercial Parkway, adjacent to Lutheran Senior Services’ Meridian Village community at 27 Auerbach Place. That facility was built in 1999 and acquired by LSS in 2001.
The former San Gabriel building, at 23,908 square feet and on 1.93 acres, had an appraised value of $831,860 as of 2021, according to Madison County property records. Sacred Heart purchased the property for $475,000 in 2016, according to county records.
A spokeswoman for Lutheran Senior Services did not immediately respond to a request for comment Monday for more details on the purchase. LSS previously declined to give financial terms of the deal.
Meridian Village offers all levels of senior living including independent living, assisted living, memory care, long-term care and short-term rehabilitation.
LSS said it would merge San Gabriel’s operations with Meridian Village, providing space for services for 32 more older adults, and renovate San Gabriel. A price for that work was not disclosed.
San Gabriel Memory Care still retains ownership of two facilities in Godfrey and Highland.
Read the full story on the St. Louis Business Journal website.