Partners plan 10 new Blake senior housing communities in the U.S.
Jackson, MS (October 2, 2018) – Blake Management Group and LifeCare Properties, LLC have announced a joint venture that will expand the resort-style Blake senior living communities nationwide.
“Over the years, we have considered dozens of potential joint ventures to grow our brand, and we feel like we’ve found the perfect partnership in LifeCare Properties,” said Jeremy Cole, CEO of Mississippi-based Blake Management Group (BMG). “I have a great amount of respect for how LifeCare Properties performs the development process and we feel our companies have tremendous synergies in culture, diligence and high expectations.”
The Blake-branded properties, known for hospitality, quality care, and restaurant-style cuisine, are thriving in their current Southeastern markets. With increasing demand for upscale options for the aging population, partners feel now is the right time to expand The Blake brand to other regions.
“After extensive discussions with the partners and senior executives of Blake Management Group and numerous on-site visits to Blake’s portfolio of communities, we were convinced that BMG would be an ideal operating partner,” said LifeCare Properties Managing Member Brooks Holstein. “We appreciate BMG’s unparalleled commitment to resident care and services, as it complements our commitment to delivering superior properties.”
BMG was founded in 2007 and currently has 17 resort-style senior living communities operating or in development in seven states: Alabama, Tennessee, Virginia, South Carolina, Louisiana, Mississippi and Florida. LifeCare Properties and BMG plan to open 10 more Blake-branded properties in select East Coast, Midwest and Southwest markets over the next five years.
LifeCare Properties, LLC, an upscale senior housing developer, is a wholly owned affiliate of Biloxi, MS-based commercial real estate company COMVEST Properties, LLC. Under the joint venture, LifeCare Properties will develop the new Blake communities and BMG will operate them with the same emphasis on hospitality and quality care that has become the brand’s hallmark.
“Moving to a national brand with several regions allows us to grow our development goals and operational process initiatives at BMG,” Cole said. “For us, scaling this company relates to our qualifiable goals as much as, if not more than, our quantifiable goals. It opens up opportunities for mobility for all of our current associates, and allows us to attract new talent.”
The joint venture agreement was finalized in September. Development of new properties is expected to begin later this year, with more development in 2019.
ABOUT BLAKE MANAGEMENT GROUP
Blake Management Group is an independently owned senior living operator with communities in seven states: MS, VA, FL, LA, TN, SC and AL. Focusing primarily in assisted living and memory care units and programming, BMG also manages approximately 300 independent living units. BMG’s motto is “A New Tradition in Care,” which encapsulates the company’s desire to be traditional yet modern in the service and amenities brought to seniors and their families. Mississippi-based BMG currently has approximately 800 employees and 17 communities operating or in development. For additional information on BMG, please visit bmgseniorliving.com.
For more information, contact:
Courtney Kinney Woeste