The Virginian, a large Continuing Care/Life Plan retirement community located in Fairfax, Virginia was recently acquired by an affiliate of Focus Healthcare Partners LLC. In connection with the acquisition, FHP retained Des Moines, Iowa based Life Care Services, as their management firm.
The Virginian currently consists of 334 residences, which includes 134 independent living units, 108 assisted living units, 11 memory care units, 81 skilled nursing beds and related commons areas.
In announcing the acquisition, Michael Feinstein of Focus Healthcare Partners LLC noted, “We have been working on this acquisition for nearly two years. We believe The Virginian is a special senior living community, and identified this as a tremendous opportunity to bring both physical and operational enhancements to what has long been recognized as an iconic senior living community in Northern Virginia. We selected Life Care Services to manage the property due their long and successful history of managing Continuing Care/Life Plan communities; in particular their ability to grasp our long-term vision for The Virginian.”
Rick Exline, executive vice president/senior director of Life Plan communities for Life Care Services, added, “We are honored and pleased that FHP selected Life Care Services for this very unique opportunity. As the largest operator of Continuing Care/Life Plan communities in the nation, we are confident that we will bring to life FHP’s vision for The Virginian”.
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Date: June 24, 2019
Source: Markets Insider