Wolff Announces Plans To Develop Six Senior Living Communities
SCOTTSDALE, Ariz., Nov. 20, 2015 /PRNewswire/ — The Wolff Company announced plans to develop several senior living apartment communities in the first quarter of 2016. The first six developments are expected to break ground over the next 90-120 days and will be located in Issaquah, Lacey and Spokane, WA; Henderson, NV; Oxnard, CA; and Colorado Springs, CO.
These projects represent the first of a large investment anticipated to be made in the independent and assisted living market by the Scottsdale-based private equity firm and will continue to broaden their portfolio of market-leading communities nationwide. Wolff intends to invest $300-$400 million annually in the development of independent and assisted living communities in addition to purchasing existing communities.
“There’s an underserved market of renters aged 55+ looking for a lock-and-leave lifestyle where we are building,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “These developments will fill a gap in the market and set a new benchmark for senior living rental communities.”
The amenity-rich properties will offer on-site dining options, a variety of social activities and top-of-the-line facilities including fitness/aerobics centers, indoor swimming pools (certain locations), theaters, art studios, lounges and full commercial kitchens. They are strategically located in desirable communities across the Western United States.
- Colorado Springs, CO
Tutt Blvd & S. Carefree Circle
160 Units - Oxnard, CA
2850 North Ventura Road
136 Units - Henderson, NV
1505 Wigwam Parkway
146 Units - Issaquah, WA
19600-19852 Newport Way NW
146 Units - Lacey, WA
8501-8549 Martin Way E
135 Units - Spokane Valley, WA
16800 block of Mission Court
135 Units
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.
CONTACT: Amber Huntley-Ruiz, (480) 760-2224, aruiz@awolff.com