Watermark Assumes Management of Four Senior Living Communities, Acquires Two

Watermark Retirement Communities, Inc. has assumed management of four senior living communities in Central Iowa, and has acquired two of them.

The Tucson, Ariz.-based senior living community operator will now manage:

• The Village at Legacy Pointe in Waukee, Iowa, which has 185 beds comprised of 80 independent living units, 40 assisted living units, 48 skilled nursing units, and 17 memory care units.
• Vriendschap Village in Pella, Iowa, which has 91 beds comprised of 50 independent living units, 34 assisted living units, and seven memory care units.
• Vintage Hills Retirement Community of Indianola, Iowa, which has 66 beds comprised 44 assisted living units and 20 memory care units.
• Vintage Hills Retirement Community at Prairie Trail in Ankeny, Iowa, which has 64 beds comprised of 44 assisted living units and 20 memory care units.

Watermark has acquired Vriendschap Village in Pella and The Village at Legacy Pointe in Waukee from Pella, Iowa-based Ewing Land Development & Services, which still owns the other two communities. 

The terms of the transaction were undisclosed. 

“The communities are an ideal fit for Watermark for many reasons, particularly their history of customized care for residents,” said David Barnes, Watermark’s President/CEO. “Ewing Land Development & Services has created four great communities. We expect the management transition to be relatively smooth and we’re looking forward to the process. All current employees will be retained as part of the transition.”

Written by Alyssa Gerace