Transactions and Financings: Life Care Services Adds Community; SRI Management Enters North Carolina

Management

Life Care Services to manage Florida community

Life Care Services announced it has been selected as the management partner for Amavida, a resort-style senior living community in Fort Myers, Florida.

According to a press release, the community was recently purchased by a private investment firm and offers independent living, assisted living and memory care services. Amenities include pools, restaurants, bistros, lounges and outdoor dining areas.

“Amavida is a vibrant community known for best-in-class services and amenities, and we look forward to serving its residents as the new management partner,” Chris Bird, LCS president and chief operating officer said in the release. “Amavida is a perfect fit for Life Care Services – our rich experience and passion for seniors will further enhance the lives of residents, and position Amavida as a premier community for generations to come.”

Innovation Senior Living reopens adult day care

Innovation Senior Living announced it has taken over the management of La Casa Assisted Living and reopened its adult day care center in Merritt Island, Florida.

According to a LinkedIn post, adult day care is “a strategic product type for the company” and will be aimed at serving the middle market.

LSS, Diakon complete combination

Diakon is now officially part of Lutheran Senior Services following the closing of an agreement between the two organizations.

According to a press release, LSS is now the 12th largest nonprofit senior living provider in the country and supports around 15,000 older adults.

The agreement was announced in March and allows LSS to expand into Pennsylvania.

Transactions

SRI Management expands to North Carolina

SRI Management announced it has expanded into North Carolina through the management transition of Trevi Vibrant Senior Living, an independent living community in Charlotte.

According to a press release, the community is part of a 45-acre mixed use development and offers one- to three-bedroom floor plans, with balcony and patio options.

“We are excited to expand into North Carolina and bring our expertise in senior living to the vibrant city of Charlotte,” Todd Filippone, president of SRI Management, said in the release. “Our goal is to enhance the lives of our residents by providing top-notch services and amenities promoting independence and well-being.”

Blueprint advises on North Carolina community sale

Blueprint announced it was engaged to help with the sale of a Class A independent living community in Raleigh, North Carolina.

According to a press release, the community was built in 2019 and had 143 units. The community had seen positive performance momentum in 2023 and early 2024.

The seller selected Focus Healthcare Partners in tandem with Solera Senior Living as the buyers. The transaction is Blueprint’s second in North Carolina this year.

SLIB closes on Minnesota community

Senior Living Investment Brokerage announced it closed on the sale of a 20-unit community in Alexandria, Minnesota.

According to a press release, the community was built in 2006 and sits on around three acres of land.

The release states the seller was a private equity firm that is selling a geographic outlier in its regional portfolio, and the buyer is a non-profit organization looking to expand its presence in Minnesota.