CRL Senior Living Communities Execs Acquire Majority Stake in Company

The president and CEO of CRL Senior Living Communities, Ari Weinberger, hopes to accelerate his company’s growth with his and new chairman Douglas Cameron’s recent acquisition of a majority stake in the company.

Weinberger, who worked in real estate investment banking for the health care and senior living markets before joining CRL, is looking ahead toward continued expansion and innovation, which his company has been experiencing since he took over in 2009.

“I strongly believe CRL is offering something unique within the senior living market, which is what first attracted me to the organization,” says Weinberger, adding that the equity investment will not affect existing leases or have a direct impact on new contracts going forward. “This investment will enable continued growth through new construction of properties and strategic acquisitions.”

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CRL has its main offices in Chicago and Neenah, Wis., and operates 16 independent and assisted living residences in the Midwest; it plans to become a big presence on the Chicago scene. The organization’s third Chicago area community, North Grove Manor Alzheimer’s/Memory Care and Assisted Living in Morton Grove, Ill., is scheduled to open this fall, as the company prepares for an impending rise in the need for senior housing.

“The number of Americans over age 65 is on the brink of exploding, and we foresee a corresponding surge in demand for senior housing, including communities with special expertise in Alzheimer’s care,” says chairman Douglas Cameron. “CRL’s quality management team and holistic approach to wellness put the organization in a great position to benefit from this trend.”

The organization has expanded since 2008 with 10 new or acquired communities, and says its independent living, assisting living and Alzheimer’s/memory care communities are known for their Stimulation Pillars that emphasize the social, physical and nutritional needs of residents.

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Written by Alyssa Gerace