"These communities add substantial unit growth to our company in this region.Juniper will introduce a rental model that will be extremely competitive in this area currently dominated by strong entry fee model communities." Lynne Katzmann, CEO
Bloomfield, NJ (PRWEB) January 04, 2013
Juniper Communities announces today that it has acquired two senior living campuses formerly known as Hearthstone Manor. The $18.5M deal was finalized on December 28, 2012. The two purpose built communities in the Lancaster, PA area will be renamed Juniper Village at Lebanon and Juniper Village at Mt. Joy. The Lebanon property includes two separately licensed personal care homes.
The communities total 184 units of which 144 are licensed personal care, otherwise known as assisted living units, and 40 are independent living units.
Juniper is a privately held New Jersey-based company that owns and operates assisted living, memory care and skilled nursing homes. Established in 1988, Juniper concentrates its operations in New Jersey, Florida, Pennsylvania, and Colorado.
Lynne Katzmann, Founder and CEO of Juniper Communities announced the acquisition saying, “These communities add substantial unit growth to our company in one of our four existing regions. We look forward to introducing our signature programming to the communities including our nationally acclaimed Wellspring memory care program.
Also, Juniper will introduce its all rental model that will be extremely competitive in this area which is currently dominated by strong entry fee model communities.”
This transaction follows one with LTC Properties, Inc. (NYSE:LTC) that provided Juniper a capital event for industry growth. Juniper expects to acquire an additional three properties first quarter 2013 to expand the portfolio of communities it operates to 21.
“We look forward to partnering with local agencies and businesses in the area to help us fulfill our corporate mission of setting high standards for innovation, cost-effectiveness and quality in our operations,” said Katzmann. “It is important that our communities have a strong relationship with the people, businesses and organizations in which they are located. This connection to daily living in a community is an integral part of our programming activities to help our residents maintain an active body, engaged mind, and fulfilled spirit.”
Juniper Communities’ other Pennsylvania properties are located in northwest section of the state.
About Juniper Communities, LLC.
Juniper Communities founded in 1988 operates 18 long-term care communities in NJ, FL, PA and CO. Juniper is dedicated to Nurturing the Spirit of Life in each individual served and believes the keys to healthy aging are an active body, an engaged mind, and a fulfilled spirit. The company¹s mission is to serve its stakeholders, residents, families, employee associates, and investors with excellence and strong dedication to the company¹s hallmarks of quality, value and innovation. For more information on Juniper call (973) 661-8300 or visit http://www.junipercommunities.com.