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LCS Closes $300 Million Equity Senior Housing Programmatic Joint Venture

DES MOINES, Iowa. July 2, 2018— LCS, the nation’s third largest senior housing operator, today announced the closing of the organization’s $300 million equity senior housing programmatic joint venture. LCS Real Estate will serve as sponsor of the joint venture (JV) and will partner with a large institutional investor to execute on the investment platform. Life Care Services will provide management services to the acquired and developed communities. Both are LCS companies. CBRE Capital Advisors, Inc. in conjunction with the CBRE National Senior Housing Team was the exclusive financial advisor on the transaction.

“This investment vehicle is a strategic advantage for LCS,” says Joel Nelson, president and CEO of LCS. “The joint venture platform will use discretionary funds to invest in core, value add and development assets, including communities already operated by LCS.”

LCS sought a like-minded, long term institutional partner to invest in senior housing acquisitions across the risk spectrum and including development.

“This is a milestone event in the next chapter of optimizing the company’s real estate platform,” says David Laffey, EVP and senior managing director of LCS Real Estate. “The JV provides greater control, greater certainty of execution, and streamlines the investment process.”

LCS Real Estate has executed on acquisition and development transactions in excess of $800 million since 2016, and currently has an ownership stake in 37 senior housing communities nationwide, including 13 Life Plan Communities.

About LCS®

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 partners with opportunities, and sources deal flow. For more information visit LCSrealestate.com.

About CBRE Capital Advisors

CBRE Capital Advisors, Inc. is the investment banking business of CBRE in the Americas with a FINRA registered broker dealer office in New York.  CBRE Capital Advisors provides independent advisory and equity placement, working in partnership with the CBRE platform.

About CBRE National Senior Housing

The CBRE National Senior Housing team offers a depth of expertise working as an advisor to buyers, sellers, investors and borrowers in various senior housing capital markets transactions.

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