News

The Wolff Company Announces Development of Second Modern Senior Living Community in Reno

Revel Damonte Ranch to offer resort-style amenities and flexibility to senior living

Scottsdale, Arizona and Reno, Nevada (March 21, 2018) – The Wolff Company—a Scottsdale-based private equity firm and senior living developer will soon break ground on Revel Damonte Ranch, a contemporary active senior living apartment community located in the Damonte Ranch, just south of Reno. The Damonte Ranch master plan is an upscale mixed-use community located at the base of the beautiful Sierra Nevada mountains, with stunning views.

Expected to open in 2020, Revel Damonte Ranch will be the second Wolff Company property to break ground in Reno, after Revel Rancharrah, and will offer amenities unique to the Revel family of properties, including celebrity chef-driven dining options.

Recent reports from the National Investment Center (NIC) indicate that while the number of senior housing options in development nationwide rose by 4.5% in 2017, the growth is too slow for demand.
This is especially true in Washoe County, where the 60+ population rose from 76,000 in 2010 to 89,000 just three years later in 2013 and is predicted to hit 100,000 by 2020. These growth rates are further compounded by U.S. Census Bureau projections indicating Nevada will remain the third fastest aging state through the year 2050. The increasing demand for 55+ rental options in Washoe County and throughout Nevada is marked by an increased demand for contemporary amenities.

“Nationwide, and in places like Washoe County, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Damonte Ranch, along with sister community, Revel Rancharrah, will provide residents a contemporary senior living option with flexible, quality food options and wellness as keystones of their experience”.

Once completed, the four-story property will offer 156 studio, one-, and two-bedroom independent living residences. Built in a natural setting, Revel Damonte Ranch is characterized by views of the adjacent Steamboat Creek wetlands and nearby mountains, complete with walking paths that lead to nearby trails and other outdoor amenities offered in Reno only by Revel properties. The property offers other amenities unique to the Revel family of properties, including a private-use full-service salon and spa, yoga studio, and state-of-the-art fitness studio. Community amenities at Revel Damonte Ranch are further enhanced by celebrity chef-driven dining experiences, including multiple restaurants, flexible meal plans, and seasonal menus prepared by acclaimed chef and Food Network star, Beau MacMillan.

“Alongside Revel Rancharrah, Revel Damonte Ranch will continue to expand senior living flexibility and features in Reno,” said Milhaupt. “Revel Damonte Ranch will offer resort-style amenities like an indoor heated saline pool, multiple dining venues and access to natural outdoor spaces that make resort-style living something to look forward to and celebrate.”

Revel Damonte Ranch is the 13th senior living community that The Wolff Company has developed since 2016. In 2018, the company will continue to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES PLAN TO DEVELOP SENIOR LIVING COMMUNITY IN TORRANCE

Revel Southbay sets new benchmark for senior living amenities in California as demand for quality senior housing options continues to outpace market-wide development

Scottsdale, Arizona and Torrance, California – The Wolff Company—a Scottsdale-based private equity firm and senior living developer—has broken ground on Revel Southbay, a new independent living apartment community located near to 1.5 miles of pristine Pacific beaches. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel Southbay is expected to open in late 2018 and will set a new standard of quality and service in the senior living sector.

The Q2 2017 CBRE Senior Housing & Care Market Insight report indicates that by 2029, baby boomers aged 65 and over will account for more than 20% of the U.S. population, with those aged 55+ not far behind. Lancaster Pollard’s 2017 Senior Housing and Care Market Outlook report indicates the growth and change will be felt much more quickly as the population aged 75 and over is expected to grow more than 3.8% by 2021, while growth in the development of quality senior housing options is expected to maintain its annual growth rate of 2.8%.

“Nationwide, and in places like Torrance, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Southbay will give prospective residents a higher quality senior living option where choices have previously been limited.”

Once completed, the four-story property will offer 185 studio, one-, and two-bedroom independent living residences. Revel Southbay will also feature best-in-class wellness services and sophisticated amenity spaces including a fitness and yoga studio, a full-service salon and spa, an art studio, and a heated saltwater pool. Community amenities at Revel Southbay are further enhanced by celebrity chef-driven dining experiences that will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.

Revel Southbay is the 10th senior living community that The Wolff Company has developed since 2016. In 2018, the company will continue to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.

More information about Revel Southbay can be found at awolff.com.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY PLANS TO DEVELOP SENIOR LIVING COMMUNITY IN ISSAQUAH

Revel Issaquah sets new benchmark for senior living amenities in Washington as demand for quality senior housing options continues to outpace market-wide development

Scottsdale, Arizona and Issaquah, Washington (March 5, 2018) – The Wolff Company—a Scottsdale-based private equity firm and senior living developer—has broken ground on Revel Issaquah, a new independent living apartment community located across from Lake Sammamish. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel Issaquah is expected to open in late 2018 and will set a new standard of quality and service in the senior living sector.

Aging and Disability Services, the Area Agency on Aging for Seattle and King County (ADS), most recently estimated that the number of residents aged 60+ will represent 23.8% of the total population of King County by 2020, and the rate of growth is expected to continue. The growth and change will be felt much more quickly as those aged 85 years and older, and those aged 75-79, represent two of the fastest growing segments of King County’s total population, while Lancaster Pollard’s 2017 Senior Housing and Care Market Outlook report indicates growth in the development of quality senior housing options is expected maintain its annual growth rate of 2.8%.

“Nationwide, and in places like Issaquah, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Issaquah will give prospective residents a higher quality senior living option where choices have previously been limited.”

Once completed, the three-story property will offer 146 studio, one-, and two-bedroom independent living residences. Revel Issaquah will also feature best-in-class wellness services and sophisticated amenity spaces including a fitness and yoga studio, a full-service salon and spa, an art studio, and a heated saltwater pool. Community amenities at Revel Issaquah are further enhanced by celebrity chef-driven dining experiences that will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.

“This community will fill a gap in the market and set a new benchmark for senior living rental communities,” said Milhaupt. “Revel Issaquah will offer the resort-style amenities and experiences that make resort-style living something to look forward to and celebrate.”

Revel Issaquah is the ninth senior living community that The Wolff Company has developed since 2016. In 2018, the company will continue to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES FUTURE SENIOR LIVING COMMUNITY IN IDAHO

Revel Eagle sets new benchmark for senior living amenities in Idaho as demand for quality senior housing options continues to outpace market-wide development.

Scottsdale, Arizona and Eagle, Idaho – The Wolff Company—a Scottsdale-based private equity firm and senior living developer—has broken ground on Revel Eagle, a new independent living apartment community in the prestigious Eagle River development, located on the Boise River. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel Eagle is expected to open in late 2018 and will set a new standard of quality and service in the senior living sector.

The Q2 2017 CBRE Senior Housing & Care Market Insight report indicates that by 2029, baby boomers aged 65 and over will account for more than 20% of the U.S. population, with those aged 55+ not far behind. Lancaster Pollard’s 2017 Senior Housing and Care Market Outlook report indicates the growth and change will be felt much more quickly as the population aged 75 and over is expected to grow more than 3.8% by 2021, while growth in the development of quality senior housing options is expected to maintain its annual growth rate of 2.8%.

“Nationwide, and in places like Idaho, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Eagle will give prospective residents a higher quality senior living option where choices have previously been limited.”

Once completed, the three-story property will offer 146 studio, one-, and two-bedroom independent living residences designed for quality and style. Revel Eagle will also feature best-in-class wellness services and sophisticated amenity spaces including a fitness and yoga studio, a full-service salon and spa, an art studio, and a heated saltwater pool. Community amenities at Revel Eagle are further enhanced by celebrity chef-driven dining experiences that will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.

“This community will fill a gap in the market and set a new benchmark for senior living rental communities,” said Milhaupt. “Revel Eagle will offer the resort-style amenities and experiences that make resort-style living something to look forward to and celebrate.”

Revel Eagle is the eighth senior living community that The Wolff Company has developed since 2016. In 2018, the company will continue to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES PLANS TO DEVELOP NEW SENIOR LIVING COMMUNITY IN HILLSBORO

Revel AmberGlen sets new benchmark for senior living amenities in Oregon as demand for quality senior housing options continues to outpace market-wide development Scottsdale, Arizona and Hillsboro, OR – The Wolff Company—a Scottsdale-based private equity firm and senior living developer—will break ground later this year on Revel AmberGlen, a new independent living apartment community in Tualatin Valley on the west side of Portland where natural spaces meet the metropolis. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel AmberGlen is expected to open in 2020.
The Q3 2017 CBRE Senior Housing & Care Market Insight report indicates that in the third quarter of 2017, new construction across all senior housing averaged only 5,923 units per quarter, a nearly 50% drop from the 2015 peak. In Q2 CBRE reported that by 2029 those aged 65+ will account for more than 20% of the U.S. population. Lancaster Pollard’s 2017 Senior Housing and Care Market Outlook report indicates the growth and change will be felt much more quickly as the population aged 75 and over is expected to grow more than 3.8% by 2021, while growth in the development of quality senior housing options is expected to maintain its annual growth rate of 2.8%. The Wolff Company is aiming to increase available inventory while changing the standards for what active adult housing should be.
“Nationwide, and in places like Hillsboro, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel AmberGlen will give prospective residents a higher quality senior living option where choices have previously been limited.”
Once completed, the four-story property will offer 140 studio, one-, and two-bedroom independent living residences set amongst tree-lined parks along near the Willamette River. Revel AmberGlen will also feature best-in-class wellness services and sophisticated amenity spaces including a fitness and yoga studio, a full-service salon and spa, an art studio, and a heated saltwater pool. Community amenities at Revel AmberGlen are further enhanced by celebrity chef-driven dining experiences that will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan. The ongoing development of new community centers, natural areas, and retail shops complements the already sought-after access to Beaverton and Downtown Portland, along with local restaurants, microbreweries, unique shops, and outdoor activities.
Revel AmberGlen is the 12th senior living community that The Wolff Company has developed since 2016. In 2018, the company will continue to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.
More information about Revel AmberGlen can be found at awolff.com.

About The Wolff Company
The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES DEVELOPMENT OF VIBRANT NEW SENIOR LIVING COMMUNITY IN LAS VEGAS

Revel Vegas to Include Best-in-Class Wellness Services and Amenities

SCOTTSDALE, Ariz., (December 7, 2017) – Adding to a growing number of sophisticated senior living properties, The Wolff Company announces it has broken ground on Revel Vegas, a new independent living apartment community in Las Vegas, Nevada. The development is expected to open in 2018 and will set a new standard of quality and service in the senior living sector.
“We have made a commitment to building excellence in our senior living communities. Our goal is to focus on the holistic wellness and happiness of the residents at each of our communities and exceed their expectations,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “We are proud of our thoughtful design for Revel Vegas which will raise the bar in senior living by crafting a distinctive living experience like no other.”
Wolff continues to broaden their portfolio of market-leading communities nationwide with this newest project, the sixth senior living community they have developed since 2016. The Scottsdale-based private equity firm intends to invest $300-$400 million annually in the development of independent living communities in addition to expanding other areas of the multifamily housing business.
Once completed, the three-story Revel Vegas property will offer 132 studio, one- and two-bedroom independent living residences designed for modern style and quality. It will also feature best-in-class wellness services and strikingly sophisticated amenity spaces such as a fitness and yoga studio, a full-service salon, a relaxing spa, a putting green, an arts studio, a theater and a heated saltwater pool and spa. Outstanding dining experiences will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.

About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

 

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES INNOVATIVE PLANS FOR NEW SPOKANE SENIOR LIVING COMMUNITY

Revel Spokane to Include Best-in-Class Quality Apartments and Amenities

SCOTTSDALE, Ariz., (December 14, 2017) – The Wolff Company is pleased to announce construction is under way on Revel Spokane, a new independent living apartment community in Spokane Valley, Washington. The development is expected to open in 2018 and will continue to broaden their portfolio of market-leading communities nationwide.
This project is the seventh senior living community developed by Wolff since 2016. The Scottsdale-based private equity firm intends to invest $300-$400 million annually in the development of independent living communities in addition to purchasing existing communities.
“Each of our communities will be a welcoming place of exceptional quality that supports well-being, fosters genuine connections and embraces independence,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “At Revel Spokane, we have used our deep understanding of resident needs to deliver what matters most to them.”
Once completed, the impressive four-story property will offer 132 studio, one- and two-bedroom independent living residences designed for high quality and style. Revel Spokane will also feature best-in-class wellness services and strikingly sophisticated amenity spaces such as a fitness and yoga studio, a full-service salon, a relaxing spa, an arts studio, a theater and a resident garden. Outstanding dining experiences will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.
More information about Revel Spokane can be found at revelspokane.com.

About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

 

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY REVEALS PLANS FOR BEST-IN-CLASS SENIOR LIVING WELLNESS SERVICES AND AMENITIES AT NEW RENO COMMUNITY

Revel Rancharrah to Offer Impressive Array of Benefits

SCOTTSDALE, Ariz., November 4, 2017 – The Wolff Company today announced it has started construction on Revel Rancharrah, a new independent living apartment community within Reno’s prestigious Rancharrah master-planned community. The development is expected to be complete in 2018 and will offer a new level of wellness services and amenities in the senior living sector.
This project is the fifth senior living community Wolff has developed since 2016 and will continue to broaden their portfolio of market-leading communities nationwide. The Scottsdale-based private equity firm intends to invest $300-$400 million annually in the development of premium caliber independent living communities in addition to purchasing existing communities.
“We are determined to set the bar higher with each new senior living community we develop,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Rancharrah will offer resort-style living to an underserved market of renters aged 55+ looking for a no-hassle, maintenance-free community.”
Once completed, the four-story property will offer 146 studio, one- and two-bedroom independent living residences designed with upscale style and impressive quality. In addition to outstanding wellness services, Revel Rancharrah will feature strikingly sophisticated amenity spaces such as a fitness studio, a spa, a state-of-the-art, multi-function event space, an indoor pool, and an art studio. Outstanding dining experiences will include a modern-American restaurant and a spirited pub with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.
More information about Revel Rancharrah can be found at revelrancharrah.com.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

THE WOLFF COMPANY ANNOUNCES DEVELOPMENT PLANS FOR REVEL LODI, A NEW SENIOR LIVING COMMUNITY

SCOTTSDALE, Ariz., October 30, 2017 – The Wolff Company today announced they broke ground on Revel Lodi, a new independent living apartment within the Reynolds Ranch master planned community in the heart of California’s wine country. The development is expected to open in mid-2018 and will promote a healthy lifestyle by offering best-in-class wellness services and community amenities.
The community will set a new standard of quality and service in the senior living sector. Built on the six pillars of wellness, the senior living community plans on keeping residents connected, engaged and curious. The six pillars are Physical, Social, Intellectual, Spiritual, Emotional and Occupational.
“There’s an underserved market of renters aged 55+ looking for a lock-and-leave lifestyle in Lodi,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “Revel Lodi will fill a gap in the market and set a new benchmark for senior living rental communities.”
This project is the fourth senior living community Wolff has developed since 2016 and will continue to broaden their portfolio of market-leading communities nationwide. The Scottsdale-based private equity firm intends to invest $300-$400 million annually in the development of independent and assisted living communities, in addition to purchasing existing communities.
Once completed, the two four-story buildings will offer 134 apartments and 8 single-story cottages in a variety of studio, one- and two-bedroom floor plans designed for quality and style. Revel Lodi will also feature best-in-class wellness services and strikingly sophisticated amenity spaces such as a fitness and yoga studio, a full-service salon, a relaxing spa, an arts studio and an indoor heated saltwater pool. Outstanding dining experiences will include multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.
More information about Revel Lodi can be found at revellodi.com.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

The Wolff Company Invests in Independent Living

November 17, 2017 – Senior Care Investor

At a time when most attention in the seniors housing development market has been directed at assisted living and memory care, The Wolff Company is betting big on independent living, with a pipeline of 20 properties planned to open in the next few years throughout the western United States. Since its founding in 1949, the company has mostly focused on the multifamily space, but to build up its seniors housing team, in March 2014 Wolff brought on Mike Milhaupt, who has over 20 years of experience developing senior living properties at First Centrum.

Since welcoming Mr. Milhaupt, Wolff has broken ground on 11 IL developments throughout the West and has also purchased three senior apartment communities. In addition to those 11 properties under construction, the company also has nine in various stages of pre-development. So, Mr. Milhaupt expects Wolff to open three or four new IL communities every six months, or so, with the first three set to open early next year in Colorado Springs, Colorado, Henderson, Nevada, and Oxnard, California.

Costs should average around $275,000 per unit for the portfolio (which would, of course, vary based on location), and the average size is around 140 units. And a minority of units in several communities were built to code for an AL conversion in the future, if Wolff or another owner so chooses. In addition, knowing that with the average move-in age of independent living residents rising and the wave of Baby Boomers still years away from reaching that age, Mr. Milhaupt has underwritten based on either four or five move-ins a month, a relatively conservative rate.

Newport Beach, California-based Clearwater Living will manage the portfolio, and Wolff is financing the pipeline with their own equity and conventional bank loans from a number of local and regional banking relationships