Senior Living Operator Goes Big With New Investment Arm

An Oregon-based senior living operator with 12 years of industry experience announced this week the creation of a new division that will focus on expanding investment opportunities to a larger investor base.

Such is the goal for Ridgeline Management Company, a company with offices in Eugene and West Linn that operates 16 senior living communities in Oregon, California, Colorado, Indiana, Nevada, Texas, Wisconsin, Wyoming.

This week, the company created Ridgeline Partners, an entity that will be responsible for the firm’s growth and investment strategy, SHN has learned via an email sent by Ridgeline Management Company, which will continue to focus on all aspects of senior living operations.

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“Ridgeline Management Company has been a provider of senior housing services for 12 years,” stated the email from Ridgeline Co-Founder and CEO Dr. Chuck McGlade. “During this time, many of our investors have profited from our acquisition and development projects. It is my desire to bring investment opportunities to a larger audience.”

To aid in accomplishing this vision, Ridgeline has brought on several new team members to head up the new division.

April Ekstrom will assume the role of managing director for Ridgeline Partners. Most recently, Ekstrom was the director of operations for Radiology Associates, P.C., where she directed and oversaw the operations of 29 radiology facilities throughout Oregon and Alaska.

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During her time with RAPC, Ekstrom was instrumental in establishing the Alaska Regional Telemedicine Network, which allows rural Alaskans to remotely collaborate with physicians from the lower 48 states.

“Although new to senior housing, Ms. Ekstrom brings a wealth of experience in systems, technologies, logistics, business expansion and strategy,” wrote McGlade. “With such a diverse skill set, we are enthusiastic about the contributions she can make to our team.”

Also joining the Ridgeline Partners team is Joe Callaghan, taking on role of member partner of the newly formed division. In 2006, Callaghan co-founded CHG Group Holdings, LLC, a private equity firm specializing in making debt and equity investments in the senior housing industry. In this capacity, Callaghan was principally responsible for all facets of the acquisition and development process.

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Prior to CHG, Callaghan served as senior vice president of the GMS Group, LLC, a full-service investment banking firm with offices in New Jersey, Florida and Texas. Additionally, Callaghan started and served as the co-CEO of The Patriot Group, LLC, and was the investment manager of two hedge funds with over $350 million in assets.

Lastly, the final addition to Ridgeline Partners is Ryan Housekeeper, who will assume the position of acquisitions and development director. Previously, Housekeeper was a research associate for Integra Realty Resources, specializing in senior housing at the company, which provides commercial real estate valuation, counseling and consulting services.

Housekeeper’s acquisitions and development expertise dates back to former roles that included a vice president position with Canyon Creek Development and director of acquisitions role with Christopher Place Senior Communities, an Ann Arbor, Mich.-based company that manages five communities across five states.

Though Ridgeline couldn’t be reached to comment on specific plans regarding the company’s new division, McGlade stated in his email that Ridgeline Partners will be emailing monthly newsletters that will include both possible investment opportunities as well as news articles on senior living.

Written by Jason Oliva

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