Citrine Investment Group has completed the sale of River Glen of St. Charles, a senior living community in St. Charles, Illinois. The transaction follows a multi-year repositioning effort that included transitioning the community’s independent living townhomes to a rental model and completing strategic capital improvements, reflecting the value-add strategy at the center of Citrine’s platform.
CHICAGO, Sept. 15, 2026 /PRNewswire/ — Citrine Investment Group, a senior housing and healthcare investment platform, today announced the sale of River Glen of St. Charles, a 106-unit senior living community in St. Charles, Illinois, to a long-term institutional owner of senior housing communities.
Citrine acquired River Glen in January 2023. The community includes assisted living, memory care, and independent living townhomes. During its ownership, Citrine transitioned the independent living townhomes from an entrance-fee structure to a market-rate rental model while completing strategic capital improvements across the community, including renovated flooring and updates to common areas, along with operational enhancements.
The successfully executed business plan resulted in stronger occupancy, improved operating efficiency, and a more sustainable operating model ahead of the sale.
“River Glen benefited from Citrine having the conviction to take on the entrance fee to rental transition and follow through,” said Lynn Jerath, Founder and President of Citrine Investment Group. “Our team brought hands-on execution to every phase of the investment while maintaining a consistent focus on the needs of residents and staff throughout the process. That balance is central to Citrine’s investment approach.”
The sale of River Glen adds to Citrine’s track record of acquiring and turning around underperforming senior housing communities across the country through active ownership and disciplined execution.
About Citrine Investment Group
Citrine Investment Group is a senior housing and healthcare investment platform focused on acquiring and transforming distressed, undermanaged, and undercapitalized communities across the United States. Citrine’s portfolio spans assisted living, memory care, independent living, CCRC turnarounds, and healthcare services. The firm creates value through active ownership, operational improvements, and disciplined risk management, grounded in a deep commitment to the residents and communities it serves. Learn more at Citrineima.com.
Media Contact: Maria Coder, 954-379-2115, Citrine@redbanyan.com
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SOURCE Citrine Investment Group
