Inspirit Announces Acquisition Of Senior Living Community "Foxbridge" In Joint Venture With Care Investment Trust LLC
Local senior living community becomes second in growing mid-Atlantic/Southern region portfolio by industry veterans
MEMPHIS, Tenn., Feb. 16, 2017 /PRNewswire/ -- Inspirit Senior Living LLC ("Inspirit") today announced that, together with its joint venture partner Care Investment Trust LLC ("Care"), they have acquired Foxbridge (through affiliated companies), a seniors housing facility previously owned and operated by United Methodist Homes. The 120-bed, eight-acre gated campus is now known as "Foxbridge, an Inspirit Senior Living Community." Foxbridge marks the second joint venture acquisition for Care and Inspirit, following the November 2016 acquisition of Hilltop, an Inspirit Senior Living Community (Winchester, VA). Affiliates of Inspirit will operate and manage Foxbridge.
David Lawlor, president and chief executive officer of United Methodist Homes (UMH) which had operated Foxbridge since 2005, described UMH as "very pleased and grateful" at the conclusion of the transaction. "Housing and caring for seniors is not a business—it is a calling, and one that UMH has been joyfully answering since 1874 when we opened our first home for the aged. UMH would not have entrusted our legacy—and more importantly, the wellbeing of our Foxbridge community—to an owner and operator who did not share our values. We are grateful to know that Foxbridge is in the hands of a team who impressed us with their integrity and professional expertise."
Inspirit CEO David K. McHarg said that Foxbridge, which offers a graduated care model ranging from independent living, to assisted living, to memory care, will soon be undergoing significant upgrades to modernize back-office systems and to renovate the buildings, furnishings, fixtures, and grounds. "Foxbridge is an extraordinary place: dedicated and highly skilled staff serving residents and families in a setting of unmatched natural beauty, said McHarg. "Inspirit is proud to add Foxbridge to our growing family of properties, and we look forward to working with the local team to deliver an even better experience to our residents."
Care CEO Torey Riso noted that "Care is pleased to have the opportunity to expand its relationship with Inspirit through the acquisition of Foxbridge. Care believes that properties like Foxbridge, and operators like Inspirit, provide a model of how senior living can work at its best."
SOURCE Inspirit Senior Living
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