Athena Communities Buys 50% Stake in Senior Facility

GLATSONBURY, CT-In a deal that increases its senior assisted living portfolio to nine properties in the state of Connecticut, Athena Communities of Southington, CT., has acquired a 50% stake in the Rosedale at Fairway Crossing community here.

The deal also includes Athena Communities’ assumption of the full management responsibilities at the Rosedale at Fairway Crossing complex. No purchase price was disclosed in the deal between Athena and former owner Glastonbury at Fairway Crossing.

Rosedale at Fairway Crossing, formerly Alterra Clare Bridge, is a 33,600-sf, 52-apartment community specially designed for those with memory impairments such as Alzheimer’s Disease. Athena officials say that residents of the facility live in private rental apartments and are afforded healthcare services, activities and restaurant-style dining. Special “neighborhoods” within the one-story building, as well as design components of the facility, help residents maintain their independence, they add.

The Rosedale at Fairway Crossing facility at 1824 Manchester Road, opened in March 2001 and was owned and operated by Alterra Healthcare Corp. of Milwaukee, Wis., a national assisted living chain.

Commenting on its acquisition, Janice Curley, president of Athena Communities and one of the company’s four operating partners, says, “Rosedale at Fairway Crossing is exciting not only for us, but for the residents. We can now offer a full continuum of care, from skilled nursing to assisted living, to specialized memory-impaired services, right here in town. It solidifies our commitment to focusing on what the state’s seniors need and want in care and quality.”

The existing management and staff of about 40 workers at the facility will be retained, according to John Sponauer, a spokesman for Athena.

The acquisition is an expansion of Athena’s operations in the Glastonbury area. Sister company Athena Health Care Systems has operated Glastonbury Health Care Center, a skilled nursing facility on Hebron Ave., since 1989. Athena Communities opened an 81-unit assisted living community, Rosedale of Glastonbury, on the same campus as Glastonbury Health Care Center, in September 2001.

Athena now operates nine senior assisted living communities in Connecticut in Avon, Hamden, Milford, Orange, Woodbridge, Trumbull, Glastonbury (2) and Newtown. The company also owns and operates a facility in Southwick, Mass.