Company Assuming Management of Richmond and Williamsburg Communities
As part of its expansion, Solvere Senior Living has assumed management of the Cadence at the Glen independent living community in Glen Allen, Virginia, as well as Verena at the Reserve independent living community in Williamsburg.
Solvere is building their management platform and team largely focused on turnarounds and working with a number of owners and developers to manage and build new communities. Princeton, New Jersey-based Solvere already manages Berkeley Oaks memory care community in Williamsburg and in addition to Virginia they are also expanding in Texas and Florida, with more in the pipeline.
“Virginia is a very important part of our expansion and we look forward to providing Cadence at Glen Allen and Verena at the Reserve with the best in management and service,” said Kristin Kutac Ward,” president and CEO of Solvere, which also has an office at 1600 Westwood Ave. in Richmond, Virginia. “The state is a wonderful and growing destination for senior living, with exceptional historic, cultural and geographic attractions.”
The Cadence and Verena communities are owned by an affiliate of Chicago-based Green Courte Partners, LLC. Formed in July 2002 by Randy Rowe, Green Courte and its real estate private equity funds focus on investments in niche real estate asset classes. They seek to optimize investment returns by marrying difficult-to-aggregate niche real estate investments with talented, experienced and aligned management teams.
“We selected Solvere to now manage our Cadence and Verena communities because of their experience and proven track record of success in operating a wide range of senior living housing,” said David Lentz, COO of Green Courte.
Solvere is extending its reach through developing a targeted system of expansion: “Our growth in Glen Allen and Williamsburg, the Southeast and Southwest areas of the country is strategic as we build a strong network of regional vice presidents and established industry professionals to create vibrant clusters of managed communities,” Ward said.
Cadence at Glen Allen is located at 10286 Brook Rd, Glen Allen, Virginia 23059 and offers 118 independent living with one and two-bedroom rental apartments. The community offers a wide array of amenities and services including options for a den, balcony or patio, as well as finely appointed architectural detail. Verena at the Reserve is located at 121 Reserve Way, Williamsburg, VA 23185 and offers 120 independent living with one and two-bedroom luxury rental apartments for ages 55 and better. The resort-style community features amenities including a business center, library, salon and guest suites.
Through its team of professionals in business, finance, operations and marketing, Solvere currently manages communities in eight states, including Florida, New York, New Jersey, Texas, Maryland, West Virginia, Virginia and Indiana. Its partner company, Solutions Advisors, provides marketing, sales, consulting and creative services to the senior housing industry nationwide.
The media contact for more information about Solvere Senior Living expanding in Virginia is Scott McCaskey of Goldman & Associates Public Relations at: firstname.lastname@example.org or 757-625-2518, ext. 3.