Brightview Senior Living Raises $202 Million to Fund Next Growth Push

Brightview Senior Living has raised $202 million from private equity investors to help fund the company’s next development phase. 

The Baltimore-based operator’s most recent fund — the eighth in its history — will fuel the construction of eight or nine new senior living communities in the eastern U.S. over the next three years, Brightview Chief Financial Officer Jeff Hettleman told Senior Housing News.

“We believe that there’s a great opportunity to continue to grow,” Hettleman said.. “This fund is really a continuation, and we’re always thinking strategically about where we should be headed in the future.”


The latest fundraise included contributions from 363 investors.

Brightview operates 46 communities, primarily in markets around Washington, D.C., northern Virginia and suburban Maryland throughout the Baltimore metro area; along with the Philadelphia metro area, New York, New Jersey and Connecticut. The Baltimore Business Journal first covered the fund raise Tuesday.

Since its founding in 1995, Brightview has raised capital through a combination of private equity investment and loans to fund future growth, with the eventual goal of selling the properties to institutional investors. In 2019, Brightview sold 11 communities to private equity firm Harrison Street.


First up on the docket to receive construction funds are Brightview Alexandria in Virginia and Brightview Holmdel in New Jersey. The company is also planning an intergenerational senior living community on the campus of Notre Dame of Maryland University in Baltimore, Hettleman said, which could see construction in 2024 or 2025.

He confirmed the university project was aiming for about 170 apartments, with a mix of IL, AL and memory care as typical to Brightview’s existing properties and lines of services.

The Virginia and New Jersey projects are expected to start construction in the first quarter of 2023, Hettleman added.

As the operator forges ahead with its latest growth plans, its leaders are bullish on the industry’s future despite enduring certain challenges in the meantime.

“We believe that we can still deliver attractive returns to our investors even with the headwinds,” he added. “We believe there’s a bright future for our industry but we’re committed to growing and we are excited about the future.”

Brightview took the top spot in Fortune’s Best Workplaces in Aging Services, thanks in-part to a culture of transparency, accountability and honest feedback.

“We believe that if we’re a great place to work, we will be a great place to live,” Hettleman said. “It’s very important to us to have an investment strategy that supports that culture in that approach.”

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