Big Rock Partners Opens $82 Million Senior Living Rental Community

Apr 29, 2018 1 Comment by

Big Rock Partners’ new $82 million Windsor at Celebration rental community near Orlando has opened, introducing a new generation of senior living design and amenities.

 

“Being prepared for the changes ahead in senior living demands rethinking the value proposition for consumers — and for the institutional investors taking a growing role in the sector,” notes Richard Ackerman, senior managing principal of Big Rock Partners, the national real estate investment firm that developed Windsor at Celebration.

Overall, Windsor at Celebration includes 151 one and two-bedroom independent living residences, 55 one-and two-bedroom assisted living residences and 33 memory care residences, all private.

 

“Institutional investors want in to senior living but have been hard pressed to find communities with the prime location, quality and scope to meet their criteria,” Ackerman said. “We’re creating those investor opportunities, which also assures our residents of a financially stable community for the long-term.”

The luxury rental approach led to strong pre-leasing – and has drawn investment by leading institutional and private equity partners including Square Mile Capital, RD Management and TownshipCapital. Bank of the Ozarks provided $41 million in construction financing, arranged by Walker & Dunlop.

This is Delray Beach, Florida-based Big Rock Partners’ second senior living rental community to open. The first, in Lake Worth, is the $105 million Atria at Villages of Windsor. Three additional communities are on the boards.

The community, operated by Life Care Services®, An LCS company®, is bringing a new look and feel to all-inclusive rental senior living in the area, with spacious apartments for independent and assisted living, a separate memory care building, extensive amenities, the latest technology infrastructure and a setting designed to promote lifelong wellness. The campus is pet-friendly and tech savvy.

Windsor at Celebration introduces a timely, flexible alternative to the traditional Continuing Care Retirement Community (CCRC) model, which can require upfront buy-in as high as $700,000. Visible from I-4, the six-story Windsor at Celebration is close to luxury hotels and high-profile theme parks. Along with amenities typical of an upscale community, Windsor at Celebration features gourmet dining venues, the state-of-the-art Imagination Cinema and even a rooftop SkyBar with views of nearby nightly fireworks. There is also an indoor Aquatic Center, Fitness Studio, salon and spa and life enrichment programs providing entertainment and leisure options.

Big Rock Partners assembled a best-in-class team for the new community. Life Care Services, an LCS Company, is the nation’s third largest manager of full-service senior living communities nationwide. Balfour Beatty is the general contractor and Gensler, nationally known for its senior living designs, is Windsor’s architect.

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Industry News, Multi-Family, NA

One Response to “Big Rock Partners Opens $82 Million Senior Living Rental Community”

  1. scott says:

    Richard from Big Rock Partners is the best Senior Housing developer in the US!

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