Silvergate’s Parent Company Selected As Top Bidder to Purchase Rancho Bernardo’s “Water Tower Site”

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AmeriCare Health & Retirement Enters Negotiations to Purchase Excess Land from Poway Unified School District

Silvergate Retirement Residence, a locally owned, top-rated retirement and management company in San Diego County, announced its parent company AmeriCare Health & Retirement, Inc. has been selected as the highest bidder to enter into negotiations with the Poway Unified School District Board of Education (PUSD) to purchase a 10.88-acre parcel of land known as the “water tower site,” located at 16061 Avenida Venusto in Rancho Bernardo.

President and CEO of AmeriCare Health & Retirement, David Petree, stated, “I am pleased that the Poway Unified School District Board has accepted our bid to acquire the property. We look forward to working with the City of San Diego, the PUSD, and community members to develop this beautiful property into something that will compliment and benefit Rancho Bernardo.”

About Silvergate Retirement Residence

With two locations in North San Diego County in Fallbrook and San Marcos, Silvergate is a full-service retirement community, offering independent living, assisted living and memory care services. Silvergate Retirement Residences were recently voted “Top 10 Retirement and Assisted Living Communities in San Diego” in the Union Tribune’s annual San Diego’s BEST Readers Poll. Silvergate is locally owned and operated by AmeriCare Health & Retirement, Inc.

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About AmeriCare Health & Retirement, Inc.

AmeriCare Health & Retirement, Inc. is a privately held healthcare management company that owns, operates and invests in retirement communities and medical office buildings. Formed in 1984, the company currently owns retirement communities in San Marcos, CA, and Fallbrook, CA, and two medical centers in Encinitas, CA, and Vista, CA. AmeriCare focuses on the acquisition, development and ownership of healthcare real estate in the Southern California geographic area, believing strongly that local ownership enhances management’s ability to operate its properties responsively to tenant and resident needs.

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Alessandra Generoso
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