Horizon Bay Retirement Living (Horizon Bay), a national seniors housing operator based in Tampa, Florida, announced that it has started managing three continuing care retirement communities (CCRC) in Florida. Regency Oaks in Clearwater, Lake Port Square in Leesburg, and South Port Square in Port Charlotte, have a total
of 1,694 residential units for seniors. The deal marks Horizon Bay’s entrance into the CCRC market since the company’s other communities operate as rental communities. The transaction increases Horizon Bay’s units under management to over 14,000, with 77 communities located nationwide in 15 states.
Horizon Bay was selected by AEW Capital Management L.P. (AEW), on behalf of one of AEW’s institutional clients, to become the new manager of the communities. The CCRC communities’ 1,300 employees will become employees of Horizon Bay with over 6,000 total employees.
For the full press release on the transaction, click here.