Senior Resource Manages 41 La Vida Facilities

The value-oriented facilities are designed to provide "the same kind of quality of life and wellness offerings that we've come to expect in the luxury senior housing market," according to Michael Grust, chief executive of LaVida Communities. The value-oriented portion of seniors housing represents "a whole new market segment," according to Grust. He says that the new segment aims to provide housing for a broader range of seniors than the facilities that are designed for the luxury segment of the market.

Senior Resource Group officials, who include chief operating officer Kayda Johnson, says that company management will visit all of the LaVida facilities during the next several months to evaluate their needs and to consult with staff and residents. The 41 La Vida facilities are located in California, Oregon, Washington, Arizona, Wyoming, Colorado, Texas, Tennessee, Alabama, North Carolina and South Carolina.

Senior Resource Group has been providing retirement housing since 1988. The company develops, owns and operates independent living, assisted living and Alzheimer's/dementia care communities throughout the US.

The management deal that puts Senior Resource Group in charge of the LaVida facilities marks the second major deal involving seniors housing on the West Coast in recent weeks. In the other, New York City-based Clarett Group acquired Irvine, CA-based FountainGlen Portfolio Management, a seniors housing specialist that develops and operates complexes on the West Coast. The Irvine-based firm has developed 12 seniors complexes totaling approximately 2,650 units.