Juniper Communities acquires Wood River Retirement Community in Bucks County, PA for $13.65 million
Expanding our presence in the Pennsylvania market enables Juniper to consolidate market share and pilot additional ancillary services within a concentrated hub,” stated Lynne S. Katzmann, Founder and CEO of Juniper Communities on the acquisition.
Bensalem, PA (PRWEB) December 02, 2016
In one of its most notable deals to date, Juniper Communities, LLC, announced that as of the close of business on November 30, 2016, it has acquired Wood River Village Retirement Community located in Bucks County, Bensalem, PA for a purchase price of $13.65 million. Juniper financed the entire purchase using cash from its balance sheet, and will refinance the property with bank debt at a later time. Juniper Communities, a privately held New Jersey-based company that owns and operates assisted living, memory care and skilled nursing homes nationally, expects to spend an additional $9.5 million in renovations over the next 12-24 months.
The acquisition of the property with 13-interconnecting buildings from Wood River Property, LLC increases Juniper Communities’ holdings in senior living to 21 buildings, most of which are in Pennsylvania. Nationally, Juniper ranks among the top 40 largest senior living communities.
“Expanding our presence in the Pennsylvania market enables Juniper to consolidate market share and pilot additional ancillary services within a concentrated hub,” stated Lynne S. Katzmann, Founder and CEO of Juniper Communities on the acquisition.
The 357,350-square foot life plan community is situated on 20.5 prime acres, only 20 miles northeast of downtown Philadelphia. Through the purchase, Juniper will add 279 Independent Living Apartments, 60 Licensed Personal Care Beds, and 17 Licensed Skilled Nursing Beds to its portfolio bringing its total unit holdings to 1,794.
Wood River Village meets the profile of properties in Juniper Communities’ portfolio. Per Katzmann, “Juniper Communities has historically based its acquisitions on properties that can meet its double bottom line - one of strong financial performance coupled with a superior quality of life in our residences. It is our goal to make the lives of elders richer and more rewarding, to be fulfilled in all seasons of life. These commitments are reference points for both our large and small everyday decisions. The financial profile of this large-scale community lends itself well to Juniper’s model of increasing value through operational improvements and quality of life for the residents.”
Built in 1981, the life plan community with a 5-star rating for its rehabilitation and skilled care on Medicare.gov will become known as Juniper Village at Bucks County. Juniper will continue to support Wood River’s caring and professional staff, who are dedicated to ensuring security, care and compassion, peace of mind and comfort for the individuals who call the community, home.
Juniper’s signature programming includes an award-winning dementia care program known as Wellspring Memory Care, a comprehensive electronic health records system, a fully coordinated healthcare delivery model Connect4Life, an integrated connections and activities program referred to as Alive in All Seasons, plus others. All are designed to foster the Juniper mission of nurturing the spirit of life in each individual served.
Juniper’s management looks forward to partnering with the local providers and businesses in the area to help maintain their high standards for innovation, cost-effectiveness and quality operations.
The newly named Juniper Communities at Bucks County is located at 3200 Bensalem Blvd, Bensalem, PA 19020. (215) 752-2370.
Juniper Communities is located at 400 Broadacres Drive, Bloomfield, NJ 07003. (973) 661-8300. http://www.junipercommunities.com
Juniper Villages in Pennsylvania
Juniper Village at Bucks County, Bensalem, PA
Juniper Village at Brookline, State College, PA
Juniper Village at Forest Hills, Pittsburgh, PA
Juniper Village at Mount Joy, Mount Joy, PA
Juniper Village at Lebanon, Lebanon, PA
Juniper Village at Meadville, Meadville, PA
Juniper Village at the Shenango Inn, Sharon, PA
About Juniper Communities, LLC.
Juniper Communities, founded in 1988 operates 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 company’s mission is to serve its stakeholders, residents, families, employee associates, and investors with excellence and strong dedication to the company’s hallmarks of quality, value and innovation. For more information on Juniper call 973.661.8300 or visit http://www.junipercommunities.com.