CHICAGO and DES MOINES, Iowa, June 17, 2019 /PRNewswire/ -- The Virginian, a large Continuing Care/Life Plan retirement community located in Fairfax, Virginia was recently acquired by an affiliate of Focus Healthcare Partners LLC (FHP). In connection with the acquisition, FHP retained Des Moines, Iowa based Life Care Services, as their management firm.
The Virginian currently consists of 334 residences, which includes 134 independent living units, 108 assisted living units, 11 memory care units, 81 skilled nursing beds and related commons areas.
In announcing the acquisition, Michael Feinstein of Focus Healthcare Partners LLC noted, "We have been working on this acquisition for nearly two years. We believe The Virginian is a special senior living community, and identified this as a tremendous opportunity to bring both physical and operational enhancements to what has long been recognized as an iconic senior living community in Northern Virginia. We selected Life Care Services to manage the property due their long and successful history of managing Continuing Care/Life Plan communities; in particular their ability to grasp our long-term vision for The Virginian."
Rick Exline, executive vice president/senior director of Life Plan communities for Life Care Services, added, "We are honored and pleased that FHP selected Life Care Services for this very unique opportunity. As the largest operator of Continuing Care/Life Plan communities in the nation, we are confident that we will bring to life FHP's vision for The Virginian".
About Focus Healthcare Partners, LLC
Focus Healthcare Partners LLC ("FHP") is a real estate investment and asset management firm headquartered in Chicago, Illinois. FHP invests in Senior Housing and Healthcare real estate assets on behalf of institutional and private investors.
FHP is led by a dedicated team that specializes in Senior Housing real estate investments, operations, and capital markets. The investment was made on behalf of Focus Senior Housing Fund I LP, a fully discretionary comingled investment vehicle that is supported by public pension plan investors, university endowment funds, public insurance companies and other well respected institutional limited partners. For more information, visit www.focushealthcarepartners.com.
About Life Care Services®
Life Care Services, An LCS® Company, established in 1971 and based in Des Moines, Iowa, is the largest manager of Continuing Care/Life Plan communities and the second largest manager of all types of full-service senior living communities in the nation. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plan communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. For more information, visit lifecareservicesLCS.com.
SOURCE Life Care Services, LLC