Meridian Senior Living proudly announces the acquisition of Pine Grove Crossing, a 127-unit senior living community in Parker, Colorado, through a joint venture with a state pension fund investor. This transaction represents the 11th acquisition within this partnership and introduces Meridian to the Colorado market, reflecting the company's ongoing commitment to strategic growth in desirable markets with strong demographic indicators.
BETHESDA, Md., Feb. 10, 2025 /PRNewswire-PRWeb/ -- Meridian Senior Living proudly announces the acquisition of Pine Grove Crossing, a 127-unit senior living community in Parker, Colorado, through a joint venture with a state pension fund investor. This transaction represents the 11th acquisition within this partnership and introduces Meridian to the Colorado market, reflecting the company's ongoing commitment to strategic growth in desirable markets with strong demographic indicators.
Pine Grove Crossing, built in 2018, includes 100 Assisted Living and 27 Memory Care units on 4.41 acres in one of Denver's most sought-after suburbs. With a dedicated team, a strong rebound in occupancy post-pandemic, and an exceptional location near shopping, dining, and healthcare amenities, the community is well-positioned for long-term success.
"This acquisition highlights our ability to access capital markets and expand into markets with strong growth potential," said Dan Castleberry, Chief Operations Officer of Meridian Senior Living. "Pine Grove Crossing exemplifies the high-quality communities we seek, offering not only a premier location but also a team and culture that align perfectly with our mission to provide extraordinary experiences for our residents."
Key Transaction Highlights
- Strategic Market Entry: This acquisition marks Meridian's entry into Colorado, a state with favorable demographic trends, including a growing senior population and attractive economic base.
- Community Strength: Pine Grove Crossing boasts a resilient team and strong operational performance, reflecting a significant recovery since the challenges of the pandemic. Meridian plans to retain the existing team to ensure continuity and success during the transition.
- Targeted Enhancements: Meridian will implement capital improvements to enhance resident amenities, including upgraded dining areas and outdoor spaces, while continuing to prioritize the overall resident experience.
- Focus on Scalability: With over 100 units, Pine Grove Crossing aligns with Meridian's strategy to focus on larger communities that support operational efficiency and market competitiveness.
Unique Differentiators of Pine Grove Crossing
- Montessori Moments in Time™ Memory Care: Meridian Senior Living's signature memory care program tailored to honor each resident's story while fostering independence and engagement.
- Prime Location: Nestled in Parker, one of Colorado's fastest-growing areas, the community offers access to a range of amenities while benefiting from a suburban setting that appeals to families and prospective residents.
- Forward-Looking Demographics: Strong market fundamentals, including increasing demand for senior living services, ensure Pine Grove Crossing will remain a sought-after choice for years to come.
Commitment to Growth and Quality
This acquisition reinforces Meridian's dedication to growing its portfolio with high-quality communities in markets with strong demand drivers. By leveraging its extensive operational expertise and strategic partnerships, Meridian continues to position itself as a leader in the senior living industry.
With 46 communities nationwide, Meridian Senior Living remains focused on delivering exceptional care, innovative programming, and long-term value for its residents and partners.
About Meridian Senior Living
Meridian Senior Living, a privately held company based in Bethesda, Maryland, owns and operates seniors housing communities across the country. With more than 46 communities in 16 states and in Washington, DC, Meridian is one of the largest seniors housing operators in the U.S. The company prides itself on providing the highest quality care, exceptional lifestyle programming and a distinctive dining experience for its residents. For more information on Meridian Senior Living, visit meridiansenior.com.
Media Contact
Janet Davis, Meridian Senior, 1 7036748310, [email protected], meridiansenior.com
SOURCE Meridian Senior
Share this article