LCS Expands The Delaney® Brand and Starts Construction on 5th Senior Living Development
DES MOINES, Iowa. December 3, 2018 — LCS announced today the closing of financing and start of construction for The Delaney of Bridgewater. The community will be a 262,000 square-foot Class A senior living community located in Bridgewater, New Jersey that will provide a full continuum of care to its future independent, assisted and memory care residents. The community is slated to open in the Fall of 2020. Financial terms were not disclosed.
“We conducted extensive market research and believe the Bridgewater market area is well-suited for this type of senior living community,” says David Laffey, EVP/senior managing director for LCS Real Estate. “The Delaney of Bridgewater is the 5th community in the portfolio and we are thrilled to partner with BMO Harris on another opportunity.”
The Delaney of Bridgewater will be located on Frontier Road just north of the I-287 and Route 22 intersection and includes 224 residences. The community will include 122 independent living apartments and in response to consumer desire, will also include 15 free-standing villas. The Delaney will offer a continuum of care and includes 56 residences for assisted living and a memory care neighborhood that will accommodate 32 residents. Community amenities include concierge services, café/bar, clubroom, expansive multi-purpose room, exercise studios, wellness suite, and dining rooms.
A demonstration of the depth of LCS, LCS Real Estate™ facilitated the acquisition and debt placement. LCS Development® is the developer and Life Care Services® will provide management services. All three are LCS companies. Four additional Delaney communities are located in Texas in the cities of Georgetown, Waco, Richmond, and League City.
Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Life Plan Communities, also referred to as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides a full-service real estate private equity enterprise, insurance, national purchasing consulting services and in-home care. The companies of LCS serve thousands of seniors across the nation. For more information, visit LCSnet.com.
About LCS Real Estate™
LCS Real Estate, An LCS Company, is a full-service, real estate private equity enterprise providing a full complement of capital market services to the parent company including investments, debt placement, and asset management of senior living communities. LCS Real Estate actively pursues transactions, connects its investor partner with opportunities, and sources deal flow. For more information, visit LCSrealestate.com.