Lloyd Jones JV Buys Virginia Senior Housing Community

The new owner plans to invest $3.1 million in the renovation of the 136-unit property.

Lloyd Jones LLC, in a joint venture with SP Venture Partners, has purchased Brightview Baldwin Park, a 136-unit senior housing community in Staunton, Va. Brightview Senior Living sold the independent living, assisted living and memory care property. Following the transaction, Brightview Baldwin Park will operate as AVIVA Baldwin Park, under Lloyd Jones’ proprietary AVIVA brand.

The community comprises two structures: The southern building encompasses 85 independent living units while the northern building houses 51 assisted living and memory care units. The new owner plans to upgrade the northern building and introduce its signature technology package, using a $3.1 million capital renovation budget.

Completed in 1987 and renovated in 2003, the two three-story buildings incorporate studio, one- and two-bedroom floorplans. Common-area amenities include a fitness center, a library, lounge areas, a fireplace, a barber shop and a beauty salon. Following the planned improvements, AVIVA Baldwin Park will also feature keyless door locks, resident safety pendants and security camera systems.

The senior living community provides housekeeping services, transportation to shopping, medical centers and more, chef-prepared meals, assistance with daily tasks and 24/7 nursing staff.

The 15-acre property is at 21 Woodlee Road, less than 2 miles from Staunton city center, just north of U.S. Route 11. Gypsy Hill Park is some 2 miles southwest.

According to a National Investment Center for Seniors Housing & Care report, the senior housing occupancy levels increased for the ninth consecutive quarter to 84.4 percent at the end of September 2023. The overall occupancy rate is expected to reach pre-pandemic levels this year.

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