NEWS, SALES, &
DEvELOPMENtS
individuals with Alzheimer’s disease and
other memory disorders, completed an
additional community consisting of four
12-resident townhouses.
Located in Round Rock, Texas, the cot-
tages at chandler creek, an assisted liv-
ing residence specializing in care of
Seven Horizon Bay Retirement Living
communities nationwide earned the
U.S. Environmental Protection Agency’s
Energy Star certification. The certification
signifies that these buildings perform in
the top 25 percent of similar communities
nationwide for energy efficiency and meet
energy efficiency performance levels set
by the EPA. Horizon Bay is headquartered
in Tampa, Florida.
the Lakes at Pointe West, a community in
Vero Beach, Florida, opened a $9 million
expansion project that will add 48 rooms
to its existing location. The expansion also
includes a comprehensive wellness center
for members.
Construction has started on the Legacy
at georgetown, an assisted living and
memory care community in Georgetown,
Texas. With an anticipated opening in
spring 2012, The Legacy at Georgetown is
designed to contain 120 total apartments,
with about 80 dedicated to assisted living
and 40 devoted to memory care.
Legend Senior Living, based in Wichita,
Kansas, plans to construct a new assisted
living and memory care residence in Wichita. The community will offer 51 private
assisted living apartments and 15 private
suites dedicated to memory care.
SUCCESS
Chicago-based ventas Inc. completed its
$7.6 billion acquisition of Nationwide
Health Properties Inc., headquartered in
Newport Beach, California, creating one of
the largest publicly traded REITs and the
leading healthcare REIT by equity value. As
part of the acquisition, Ventas also agreed to
lease to a subsidiary of Louisville, Kentucky-based Senior care Inc. 32 assisted living and
dementia care communities currently operated by Hearthstone Senior Services L.P. After the transaction has closed, Senior Care
will separately acquire the operations of all
32 communities directly from Hearthstone
and will operate them under its "Elmcroft"
brand. In other news, Senior Care also acquired two Ethos Assisted Living communities located in Kentucky.
McLean, Virginia-based Sunrise Senior
Living has completed the purchase from
a group of funds affiliated with Morgan
Stanley of the funds’ 80 percent owner-
