X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SOLANA BEACH, CA-Senior Resource Group has expanded its management portfolio with the assignment to manage 41 senior living facilities in 11 states that were formerly managed by Salem, OR-based Sunwest. The 41 properties, operating under the name LaVida Communities, are described by Senior Resource Group as “value-oriented properties.”

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.