CA Senior, LLC (“CAS’’) announced today it has entered into a joint venture with an affiliate of Goldman, Sachs & Co. to develop a 101-unit senior housing community in Mason, Ohio. The community will contain 68 assisted living units and 33 memory care units and is expected to be completed in the summer of 2017. Senior Lifestyle, a leading national operator of senior living communities, will manage the community.
The Mason, Ohio community represents the first project in a programmatic joint venture between CA Senior, LLC and a Goldman, Sachs & Co. affiliate to develop 14 senior housing communities – including both assisted living and memory care – across the U.S
“CA Ventures has been a leading innovator in the student housing and multifamily segments since our company’s inception,” said Tom Scott, founder & CEO of CA Ventures, LLC, the parent company of CAS. “In partnering with established financial and operating partners like Goldman, Sachs & Co. and Senior Lifestyle, our team is well-positioned to create modern senior housing communities with the perfect balance of hospitality-level service and best-in-class healthcare options.”
“The formation of our venture is the culmination of a carefully planned effort to increase CA Ventures’ presence in the senior housing sector,” stated John Dempsey, chief operating officer of CAS. “Our organization has been evaluating the space for several years and, in that time, we have been strategically assembling a high-quality team of professionals to lead the business; we look forward to developing and operating industry-leading senior housing communities across the U.S.”
Evercore Partners acted as financial advisor to CAS in the formation of the joint venture. Polsinelli acted as legal adviser to CAS.
Goldman Sachs will serve as a capital provider in the joint venture.
For more information, visit www.ca-ventures.com.
About CA Senior, LLC
CA Senior, LLC is the seniors housing platform of CA Ventures, a Chicago-based real estate investing and holding company founded in 2004. CA Ventures is an owner, operator and developer of student housing, multifamily, lodging and through its affiliate, Vanderbilt Partners, office properties across the U.S., Latin America and Europe. CA Senior, LLC was established to invest and develop premier senior assisted living and memory care communities in select urban and suburban markets across the United States. CA Senior communities offer affordable luxury in desirable locations in close proximity to shopping, medical facilities and residential neighborhoods.
About Senior Lifestyle Corporation
Founded in 1985, Senior Lifestyle Corporation is a privately held owner, operator and developer of seniors housing communities. With a portfolio of more than 170 communities, located throughout 23 states, Senior Lifestyle offers independent living, assisted living, memory care and skilled nursing for the luxury, moderate and affordable segments. Senior Lifestyle has been routinely recognized as a leader in the delivery of innovative programs and hospitality services for all levels of care. Senior Lifestyle is well positioned for future growth due to the exceptional talent at all levels of the organization.
CA Senior, LLC (“CAS’’) announced today that it has entered into a joint venture with an affiliate of Goldman, Sachs & Co to develop a 101-unit senior housing community in Mason, Ohio