Range Equity Management, Ovation Group and Newland Realty Capital in partnership with Sabal Investment Holdings Acquire Class A Senior Living Community in Palm Beach County

LOS ANGELES--(BUSINESS WIRE)--Affiliates of Range Equity Management, L.P. ("REM") and Sabal Investment Holdings ("Sabal"), in partnership with Ovation Group ("Ovation") and Newland Realty Capital ("NRC"), today announced the acquisition of HarborChase of Boynton Beach, a Class A assisted living and memory care community in Palm Beach County, Florida (“the Property"). Senior acquisition financing was provided by Pinnacle Financial Partners, dba Synovus Bank, with Ari Adlerstein leading the transaction for T7 Capital.

Located at 11810 South Military Trail, the Property is a 135-residence assisted living and memory care community with hospitality-oriented amenities including chef-driven dining, wellness programming and fitness offerings. The community was acquired from its original developer in a privately negotiated transaction and will continue to be managed by Harbor Retirement Associates ("HRA") under the HarborChase brand. The partnership was attracted to the opportunity by strong demographic trends, limited new construction and one of the deepest concentrations of age and income qualified households in the country.

"Senior housing is at a compelling inflection point," said Andrew Gindy, Founder and Managing Partner at REM. "We are strong believers in the fundamentals of the sector as the demand wave accelerates. HarborChase of Boynton Beach gives us exposure to one of the strongest markets in the country, and we're glad to be investing alongside partners with deep expertise in the senior housing sector."

"We've collectively spent many years in senior living as owners, operators and developers, and the opportunity has never been clearer," said Matt Turner, Managing Partner, Ovation, and Max Newland, Founder of NRC, "We know Palm Beach County well, and HarborChase of Boynton Beach is ideally positioned to capture the growing demand for high-quality senior living options in the area. We're thrilled to be partnering with REM and Sabal to make it happen."

“Sabal is excited to partner with REM, Ovation and Newland on this acquisition,” said Charles Alexander, Director at Sabal. “Senior housing is one of our highest-conviction sectors, and we remain bullish on the long-term growth trajectory of South Florida. We are thrilled to add this high-quality community to our growing portfolio.”

About Range Equity Management

Range Equity Management, L.P. (REM) is a Los Angeles-based private investment platform focused on operational real estate opportunities. Established in 2024, REM invests opportunistically across the capital structure in direct and platform opportunities. The partners have deep transaction experience across major property types including lodging, gaming, senior housing, multifamily, office, industrial, retail, land, residential and development.

About Ovation Group

Ovation Group is a seasoned investor, award-winning developer, and experienced owner of communities dedicated to "Creating Community for Good" through vibrant, high-quality environments that enhance the lives of aging adults.

About Newland Realty Capital

Newland Realty Capital LLC, a real estate investment and advisory firm founded in 2024 by Max Newland, focuses on non-traditional and operationally intensive real estate, with an emphasis on senior housing. Prior to founding the firm, Mr. Newland spent two decades acquiring, developing and managing communities as principal at two real estate private equity firms, most recently leading the senior housing platform at Kayne Anderson Real Estate for 12 years. HarborChase of Boynton Beach is NRC's second senior housing investment in Palm Beach County in the last 15 months.

About Sabal Investment Holdings

Sabal Investment Holdings (“Sabal”) is a real estate investment manager serving institutional investors across the U.S. As a fully integrated firm, Sabal identifies, underwrites, structures, and closes commercial real estate investment opportunities throughout the capital stack. The firm is headquartered in Irvine, California, and currently manages over $1.8 billion in assets.

Visit www.sabal.com

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc. (“Pinnacle”) is a $129.1 billion asset regional bank which provides a full range of banking, investment, trust, mortgage and insurance products and services for commercial and consumer clients who want a comprehensive relationship with their financial institution. The firm joined forces with Synovus Financial Corp. in 2026, bringing together more than 160 years of combined banking service. Pinnacle is the largest bank headquartered in Tennessee and the largest bank holding company headquartered in Georgia. The firm is No. 1 in deposit market share* in the Nashville MSA and No. 4 in the Atlanta MSA with offices in Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia and Maryland.