Senior Management Advisors (SMA) and Valstone Partners have announced the acquisition of an assisted living and Alzheimer’s care residential community formerly known as Emeritus at Altamonte Springs and located in Altamonte Springs, Florida. As part of the acquisition, the community will be renamed the Grand Villa of Altamonte Springs. The joint venture partners expect to complete a $1.5 million renovation of the facility’s 120 studio and one bedroom apartments as well as the common areas during the next six months. The Grand Villa of Altamonte Springs represents the partnership’s second acquisition in the last four months and the fourth Grand Villa community in central Florida, joining Grand Villa of Largo, Ormond Beach and Melbourne.
"Grand Villa of Altamonte Springs is our second acquisition with SMA in the last four months and our fourth Grand Villa community in central Florida together, joining Largo, Ormond Beach and Melbourne. We have great confidence in SMA," says Eric Abel, managing director for Valstone Partners.