Meridian Senior Living Adds to Portfolio
- Apr 09, 2019
Meridian Senior Living LLC has added a pair of senior communities totaling 147 beds in Lafayette, La., to its nationwide management portfolio of more than 10,000 beds. The properties, which are owned by American Health Investors, consist of Cedar Crest Memory Care at 161 S. Beadle Road and Rosewood Assisted Living at 203 Rue Fontaine.
Built in 2015, the Cedar Crest facility provides 55 memory care beds, while the Rosewood community, built in 1997, has 70 assisted living beds and 22 independent living beds. Both facilities, which are less than a mile apart, offer a wide range of amenities including activity rooms, courtyards, dining rooms and chef-prepared fresh meals. Rosewood Assisted Living also provides courtyard-facing cottages for independent living residents.
Meridian Senior Living is one of the largest assisted living and memory care providers in the U.S. This January, the privately held firm acquired two senior communities in northern Rhode Island with a total of 272 beds in partnership with investor GMF Capital.
Investment management firm American Healthcare Investors specializes in buying and managing healthcare real estate. The Irvine, Calif.-based firm oversees a 29 million-square-foot portfolio valued at around $8 billion.
Last October, a REIT co-sponsored by American Healthcare Investors and Griffin Capital Co. acquired eight skilled nursing facilities across Missouri totaling 1,112 beds for $88.2 million.