Nashville, TN (PRWEB) May 14, 2014
ROC Seniors Housing Fund Manager, LLC has purchased Maristone Senior Living, a senior living provider headquartered in Nashville, Tenn., for an undisclosed amount. The transaction was completed on Monday, April 21.
Developed, owned and managed by the Revelette family of Brentwood, Tenn., Maristone Senior Living was established in 2007 to provide an exceptional retirement living experience to seniors needing supportive services in Middle Tennessee. The family developed and owned two luxury retirement communities in the area, both of which were included in the transaction.
Maristone of Franklin has 41 assisted living and 13 memory care residences. Maristone at Providence has 48 assisted living and 13 memory care residences.
“With Maristone, our family saw an opportunity to provide seniors with luxury retirement living that met all of their needs, whether it was housing, assisted living, wellness care or memory care,” said Curt Revelette, CEO of Maristone. “We are now focusing on other endeavors, including Jonathan’s Grille, but are glad that a company with ROC Seniors’ reputation will continue to provide our residents with exceptional service and care.”
“We are excited to add Maristone to our nationwide portfolio,” said Phil Anderson, Chief Investment Officer at ROC Seniors. “It offers all of the attributes that we look for in our properties, such as high-end services and amenities, quality care, and a culture of success.”
ROC Seniors has tapped Life Care Services™, a LCS Company, a leading provider of high-quality senior lifestyle products and services, to manage the Maristone communities.
“A partnership with ROC Seniors, whose principals have more than 20 years of success in the seniors housing sector, is a great fit for Life Care Services,” said Pat Spence, VP/Director of Operations at Life Care Services. “We are already serving communities in Nashville, Memphis and Knoxville and can provide Maristone with resources and industry insight that smaller communities may not have.”
ROC Seniors invests in senior housing and medical office real estate across the United States and is part of the Bridge Investment Group Partners managed family of real estate funds and investments.
About Life Care Services™
Life Care Services, a LCS Company, established in 1971 and based in Des Moines, Iowa, is the nation’s leading manager of full-service senior living communities. Life Care Services currently provides operations management and marketing and sales management for 126 not-for-profit and for-profit senior living communities serving nearly 28,000 residents in 27 states and the District of Columbia. For more information, visit lifecareservicesLCS.com.