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2018

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2018 AWARD OF MERIT- Best Multifamily Housing Community (15-30 du/acre category)
  • Annadel

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2018 BEST MARKETING & ADVERTISING
  • OLiVE DTLA

 

2017

NAHB PILLARS OF THE INDUSTRY AWARDS

2017 WINNER – BEST MIXED-USE COMMUNITY
  •  Pike Motorworks
2017 WINNER – BEST OVERALL MARKETING CAMPAIGN
  •  OLiVE DTLA
2017 FINALIST –  BEST GARDEN APARTMENT COMMUNITY  (4 Stories or Less)
  • Gunbarrel Center

NAHB BEST IN AMERICAN LIVING MULTIFAMILY AWARDS (BALA)

2017  SILVER AWARD – BEST DEVELOPMENT FOR RENT (Up to 4 Stories)
  • Gunbarrel Center

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2017 CONSTRUCTION EXCELLENCE AWARD – Private Building $50M-$100M
  • Venn at Main

2016

BEST IN AMERICAN LIVING – PROFESSIONAL BUILDER

2016 PLATINUM AWARD – Best Rental Development up to Four Stories
  • Capitol Yards

AMERICAN SOCIETY OF INTERIOR DESIGNERS (ASID)

2016 DESIGN EXCELLENCE AWARD WINNERS
  • Capitol Yards
  • Katella Grand

NAIOP WASHINGTON – NIGHT OF THE STARS

2016 MIXED USE DEVELOPMENT OF THE YEAR WINNER
  • Pike Motorworks
2016 MIXED USE DEVELOPMENT OF THE YEAR FINALIST
  • 8th & Republican
 2016 MULTIFAMILY DEVELOPMENT OF THE YEAR FINALIST
  • Venn at Main

NAHB GOLD NUGGET

2016 AWARD OF MERIT HONOREE – Best Multifamily Housing Community
  • 4730 California

NORTH BAY BUSINESS JOURNAL

TOP REAL ESTATE PROJECTS – Multifamily, Sonoma County
  • Annadel

2014

NAIOP WASHINGTON – NIGHT OF THE STARS

2014 MID-RISE MULTIFAMILY DEVELOPMENT OF THE YEAR WINNER
  • Sunset Electric

Arizona developer buys Folsom land for $5 million for senior housing project

Arizona developer buys Folsom land for $5 million for senior housing project

Scottsdale, Arizona-based The Wolff Co. has bought bare land in Folsom for a senior housing project in pre-development.

Escrow closed in recent weeks for the 6-acre property on Iron Point Road, less than a mile east of Oak Avenue Parkway. The Wolff Co. bought the property, under the name KIW Folsom Venture LLC, for $5 million. Because it’s undeveloped, the site doesn’t have an assigned address. Folsom Bridge Partners LLC was the seller.

The Wolff Co. is planning a 166-unit project on the property called Revel Folsom, said Amber Huntley-Ruiz, the firm’s marketing director.

“Once completed, the community will offer independent living apartment homes, best-in-class wellness services and sophisticated amenity spaces including multiple dining experiences from celebrity chef, Beau MacMillan,” Huntley-Ruiz said in an email.

She did not share details about the project’s expected timing, and Folsom city officials said they had not received a formal application for the site, though two other senior care/living facilities are under review on neighboring parcels.

Nearly 1,000 multifamily units are under construction in Folsom at the moment, many of them on or near Iron Point Road.

Senior housing projects are also increasingly proliferating in the region, fueled by demographics. Among others, Roseville planners are reviewing a 72-bed memory care facility at 1260 Pleasant Grove Blvd., and Elk Grove has an application for a 151-unit project, including a three-story senior living center and another 71-room, single-story care facility. Both would be at the southwest corner of Laguna Springs and Civic Center drives.

Revel Vegas, a Refined Senior Community in Las Vegas, Now Pre-Leasing

Revel Vegas, a Refined Senior Community in Las Vegas, Now Pre-Leasing

Scottsdale, Arizona and Las Vegas, NV (June 6, 2018) – The Wolff Company—a Scottsdale-based private equity firm and developer—today announced that pre-leasing has begun for its new refined senior community: Revel Vegas. Located just five minutes from the Siena Golf Course, Revel offers exclusive wellness services and amenities. The community is currently accepting resident deposits and will open in Winter 2018.

“This is a fantastic opportunity for residents to hand-select their perfect apartment home,” said Michael Fountain, Executive Director, Revel Vegas. “Revel will change the way people think about their lifestyle after 55, opening doors for new, refined experiences, while keeping the familiar accessible.”

The three-story property offers 132 studio, one-, and two-bedroom independent living apartment homes. Focused on building and maintaining a culture of wellness, Revel offers a lifestyle platform that keeps residents connected, engaged and curious. Highlights of the property include unique amenities like a full-service salon and spa, a theatre room, a state-of-the-art fitness center, and celebrity chef-driven dining options from renowned restauranteur, Beau MacMillan.

Revel Vegas will be managed by the senior living experts at Clearwater Living. “Revel is all about enhancing life through the six pillars of wellness, and providing lifestyles and experiences that help people to remain connected to their physical, social, intellectual, spiritual, emotional and occupational wellbeing,” said Danielle Morgan, President of Clearwater Living. “Partnering with The Wolff Company to bring this lifestyle to Las Vegas is going to make a big difference in the community.”

With a red rock mountain backdrop, Revel offers easy access to the I-215 corridor, leading to world-class restaurants, museums, and shopping experiences on the Las Vegas Strip, but feels far enough away to enjoy the view. “People want a lifestyle that is focused on all areas of wellness, but they want it to meet their unique needs,” said Fountain. “At Revel, we’re offering that lifestyle in a truly exclusive setting.”

The Revel Vegas pre-leasing office is located 10140 W Tropicana Ave., Suite 124 Las Vegas, NV 89147. Here, future residents can take a virtual tour of the community, preview finishes and features of the apartment homes, meet the Revel team and place a deposit on their new apartment.

More information about Revel Vegas is available at RevelVegas.com.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington and Massachusetts. 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.
About Clearwater Living
Clearwater Living is committed to providing the most superior customer service and living experiences that celebrate individual relevance, from our residents and their families to our family of associates. Clearwater is growing through strategic acquisitions, development and operational management of senior living communities throughout the western United States. Every Clearwater Living community includes cutting-edge technologies and care practices that improve the daily lives of residents. To learn more about Clearwater Living, visit ClearwaterLiving.com.

Revel Rancharrah, a Refined Senior Community in Reno, Now Pre-Leasing

Revel Rancharrah, a Refined Senior Community in Reno, Now Pre-Leasing

Scottsdale, Arizona and Reno, NV (May 31st, 2018) – The Wolff Company—a Scottsdale-based private equity firm and developer—today announced that pre-leasing has begun for its new refined senior community: Revel Rancharrah. Located within Reno’s prestigious Rancharrah master-planned community, Revel offers exclusive wellness services and amenities set within the unique landscapes and lifestyles of the former estate of casino magnate, Bill Harrah. The community is currently accepting resident deposits and will open in late Spring 2019.

“This is an excellent time for residents to hand select their perfect apartment,” said Mark Schulz, Executive Director, Revel Rancharrah. “Revel will change the way people think about their lifestyle after 55, opening doors for new, refined experiences, while keeping the familiar accessible.”

The four-story property offers 146 studio, one-, and two-bedroom independent living apartment homes. Focused on building and maintaining a culture of wellness, Revel offers a lifestyle platform that keeps residents connected, engaged and curious. Highlights of the property include unique amenities like a full-service salon and spa, a state-of-the-art fitness center, heated indoor saltwater pool, and celebrity chef-driven dining options from renowned Southwest restauranteur, Beau MacMillan. Set amongst the unique and exclusive background of the Rancharrah master-planned community, life at Revel is augmented by access to a gated community rich in history and characterized by sprawling landscapes. Residents have unlimited access to the famed Rancharrah mansion, miles of walking and horseback riding trails, and resort-style shops and restaurants.

Revel Rancharrah will be managed by the senior living experts at Clearwater Living. “Revel is all about enhancing life through the six pillars of wellness, and providing lifestyles and experiences that help people to remain connected to their physical, social, intellectual, spiritual, emotional and occupational wellbeing,” said Danielle Morgan, President of Clearwater Living. “Partnering with The Wolff Company to bring this lifestyle to Reno is going to make a big difference in the community.”

The Rancharrah master-planned community began as the private estate of casino magnate Bill Harrah in 1957. Acquired in 2016 by Reno Land Inc., the sprawling 141-acre property has become an oasis in the desert, and one of the most highly-esteemed communities in Reno.

“Revel Rancharrah offers older adults additional exclusivity in an already unique and rare setting. People want a lifestyle that is focused on all areas of wellness, but they want it to meet their unique needs,” said Schulz. “At Revel, we’re offering that lifestyle in a truly exclusive setting.”

The Revel pre-leasing office is located in the Whole Foods shopping center at 6015 S. Virginia St. #F, Reno, NV 89502 (Del Monte Plaza). “Here, future residents can take a virtual tour of the community, preview finishes and features of the apartment homes, meet the Revel team and place a deposit on their new apartment,” said Schulz.

More information about Revel Rancharrah is available at RevelRancharrah.com.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington and Massachusetts. 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.
About Clearwater Living
Clearwater Living is committed to providing the most superior customer service and living experiences that celebrate individual relevance, from our residents and their families to our family of associates. Clearwater is growing through strategic acquisitions, development and operational management of senior living communities throughout the western United States. Every Clearwater Living community includes cutting-edge technologies and care practices that improve the daily lives of residents. To learn more about Clearwater Living, visit ClearwaterLiving.com.

The Wolff Company Purchases Palm Desert Property for Senior Living Apartments

Scottsdale, Arizona and Palm Desert, CA (May 30, 2018) – The Wolff Company—a Scottsdale-based private equity firm and developer—has purchased property in Palm Desert, with plans to develop a refined senior community.

The Wolff Company recently acquired the site, which is centrally located in Palm Desert along the Country Club Drive corridor with several golf clubs nearby.

Recent market projections by Concord estimate an undersupply of 1,864 independent living units in the area.

Outside of this project, The Wolff Company is developing a number of additional senior living apartment communities in California and throughout the western United States. These properties include Revel Lodi, a 142-unit community in Lodi, CA and Revel Southbay, a 185-unit community in Torrance, CA.

About The Wolff Company

The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington and Massachusetts. 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 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 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 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

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, February 27, 2018– 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 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, February 22, 2018 – 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.