MILWAUKEE--(BUSINESS WIRE)--Berengaria, a portfolio company of Marcus Investments, together with BrightStar Senior Living, have secured financing for another ground-up development of an assisted living and memory care community in Mason, OH. The 41-unit building will be focused on person-centered care in a home-like environment. The staff to resident ratio will be unusually high in an intimate setting, allowing for BrightStar to care for residents with several ADLs and behavioral health needs.
The joint venture arrangement between BrightStar Senior Living and Berengaria is the second one of its kind thus far since the firms entered into a similar joint venture arrangement in Fort Wayne, IN where the community grand opening is expected summer of 2019.
Jay Peirick, President of Berengaria, said, “BrightStar has been a great partner to us. We are encouraged by their passion and dedication to care and are delighted about our growth together. Our joint venture arrangement allows each of us to focus on our expertise; Berengaria on the real estate, BrightStar on the operations. We look forward to many more opportunities together in the near future.“
Dan Sisel, Vice President, said, “We are excited about breaking ground on another development with BrightStar Senior Living. We have been very deliberate about where we are locating these unique communities and this site is amazing. It’s located next to the new Common Ground park and has a beautifully wooded backdrop that residents will be able to enjoy.”
Christopher Nolte, President of Marcus Investments, said, “We are so pleased to be partnering with BrightStar Senior Living given their strong operational presence in the current communities in which they serve. They truly deliver on a higher standard for the mothers and fathers that are entrusted to their care."
Berengaria, the real estate business of Marcus Investments, has developed and/or managed more than $500 million of retail developments nationwide since its inception in 2008. The company’s scalable team of real estate and retail business experts is seeking to accelerate its growth through its proactive, thoughtful and proven approach, with a focus on acquiring retail life-style centers and senior living facilities. Prospective opportunities should be sent to the attention of Bob DelGhingaro, Vice President of Operations, at firstname.lastname@example.org.
Marcus Investments is a Midwest-based investment firm formed by the Marcus family of Milwaukee to build and grow the next generation of great companies in Wisconsin. The company focuses on long-term value creation and looks to attract like-minded institutions and individuals.