"Memory Care Proves to be Most Wanted Senior Property" - NREI

Specialized facilities for memory care patients have been the most sought-after asset type for seniors property investors and developers for some time now, and they’ll likely remain at the top of the wish list in 2016, industry experts say.

See Link to Full Article at NREI

 

 

CERTUS Annouces Statewide Plans - ORLANDO BUSINESS JOURNAL

Mar 21, 2016, 5:04pm EDT

Certus Senior Living has plans to develop up to 20 new memory-care facilities in the coming years.

A local developer with a focus on memory-care for seniors has plans to invest around $50 million in Central Florida.

That developer is Certus Senior Living, which earlier this month shared with Orlando Business Journal its plans for a new $12 million, 64-unit memory care facility near Waterford Lakes. It will sit on 5 acres at 11017 Lake Underhill Road, and is expected to break ground this July or August, Certus President and CEO Glen Pawlowski told OBJ. 

This facility will serve as a "prototype" for the numerous others Certus Senior Living plans to develop, Pawlowski said. The company envisions a minimum of four construction starts every year for the next five years, with at least half being in Florida, and envisions four taking place in Central Florida, he said.

Certus also is in the midst of developing a new facility in Orange City, in addition to Waterford Lakes, and is in the process of negotiating two other local sites. Pawlowski said the company is eyeing properties in Orange and Seminole counties, but declined to share specific locations. Once four facilities are developed in Central Florida, Pawlowski expects to move developing efforts to the state's east coast.

"We're looking for markets that are underserved. We're serving a very local market and the needs of the community," he said. The Alzheimer's Association estimates that 500,000 people in Florida alone currently suffer from Alzheimer's disease — a number expected to go up to 750,000 by 2025.

Final plans for the Waterford Lakes facility should be submitted within a month and go up for review by Orange County planners and commissioners this summer. Plans include the facility featuring 42,000 square feet, four separate wings with 16 private units each, and a central "main street" area with benches, patios and more for residents. The construction phase will create an estimated 245 direct and indirect temporary jobs. Once open, the facility will create 60 permanent jobs, Pawlowski said.

Bessolo Design Group is the project architect, and Certified General Contractors is the contractor. 

Rachel Williams

Staff Writer

Orlando Business Journal

 

"Senior Living Slated for Waterford Lakes" - ORLANDO SENTINEL

March 20, 2016, 10:00 am

CERTUS Senior Living plans to start work on its first Central Florida residential community serving residents with Alzheimer's Disease and dementia.

Located in Waterford Lakes, the 64 bed facility would include a central common area serving four "neighborhoods" within 42,000 square feet. Completion is expected in the spring of 2017. 

Mary Shanklin - Orlando Sentinel

Waterford Lakes - ORLANDO BUSINESS JOURNAL

Another senior-living apartment complex is in the works in Orlando.

Certus Senior Living is building a new $12 million, 64-unit memory care facility at 11017 Lake Underhill Road in Orlando near Waterford Lakes. It will sit on 5 acres, which Certus recently acquired, and is expected to break ground this July or August, Certus President and CEO Glen Pawlowski told Orlando Business Journal.

Pawlowski expects final site plans for the 42,000-square-foot facility to be submitted within a month, and go up for review by Orange County planners and commissioners by this summer. The facility will feature

four separate wings with 16 private units each and a central "main street" area with benches, patios and more for residents. Bessolo Design Group is the project architect, and Certified General Contractors is the project contractor.

During construction and development, the project is estimated to create 245 direct and indirect temporary jobs, and once completed in spring 2017, another 60 permanent jobs, Pawlowski said.

Certus Senior Living has developed more than 1,500 senior housing units in Florida, Texas and Oklahoma — a portfolio it sold in 2007. After a "hibernation" period due to the economic downturn, Certus examined the market and determined the needs of memory care residents were the most underserved, Pawlowski said.

"The Alzheimer Association estimates that 500,000 people in Florida alone suffer from Alzheimer's disease," Pawlowski said. "That's expected to go up to 750,000 by 2025."

Check back for more information, and see here for other senior living and health care news in Central Florida.

Rachel Williams

Staff Writer
Orlando Business Journal 

CERTUS Looks to Close on Two Sites

Two sites are currently under contract and will close in the first quarter of 2016. Located in Waterford Lakes (Orange County) and Orange City (Volusia County), construction is expected to begin this spring with delivery of the first two communities in late 2016.  The purchase of a third site is being negotiated, with plans to develop 20 memory care communities over the next five years at a rate of four to five communities per year.

With an emphasis on whole person wellness, CERTUS is committed to catering to the physical, emotional and spiritual well being of its residents. CERTUS’ state of the art memory care communities will offer professional, compassionate care, enrichment activities and a commitment to a dignified living environment.

Each community will contain 64 single-occupancy residential units with common areas focused on the care and well-being of its residents.  These state-of-the-art environments based upon forward-thinking designs are created to provide positive living for residents and peace of mind for their families.  Bessolo Architects of St. Petersburg have been engaged to design the communities. Principal Kevin Bessolo and his team specialize in senior living residential design and memory care communities. 

Senior Housing Vets Team Up to Launch CERTUS Senior Living, LLC

ORLANDO, Fla. - Dec. 14, 2015 - PRLog -- The CERTUS Senior Living (CERTUS) team includes CEO Glen Pawlowski, CFO John Ottinger, CIO Troy Cox and Chairman Richard Corbett. CERTUS principals have been involved in the operations of more than 3,500 senior housing units. The CERTUS team successfully developed, acquired and operated its most recent portfolio consisting of 1,500 units in ten communities across Florida, Texas and Oklahoma, which it sold in April 2007. With unique insight and expertise in the senior housing, banking, investment, development, and commercial real estate industries, the CERTUS team shares the committed vision that quality, compassionate memory care services should be of the utmost priority. Based in Central Florida, CERTUS has a keen understanding of the markets and submarkets across Florida and beyond. Well-capitalized and focused on growth, CERTUS is positioned to become one of America’s leading developers and operators of state-of-the-art memory care communities.

As many Alzheimer’s and dementia sufferers require 24-hour support, CERTUS Senior Living recognizes the need to provide a safe, caring home for residents and peace of mind for their families. With an emphasis on whole person wellness, CERTUS is committed to catering to the physical, emotional and spiritual well being of its residents. CERTUS’ state of the art memory care communities will offer professional, compassionate care, enrichment activities and a commitment to a dignified living environment.

CEO Glen Pawlowski brings more than twenty years of experience developing and operating senior living communities throughout the Southeast. Says Pawlowski, “The CERTUS Senior Living principals are confident that our long-term development strategy will help to fill the growing housing and support needs of individuals with Alzheimer’s disease and dementia. With a 40% increase in the number of people afflicted projected by 2025, CERTUS is ideally positioned to help address this growing concern.”

John “Jack” Ottinger has worked in all phases of real estate capital development funding. Experienced in conventional lending as well as private and public equity, Ottinger has been a part of more than $1 billion in project development financing. His extensive network of senior living industry and real estate financing contacts as well as his ability to develop creative solutions for value enhancement are critical to achieving the long-term goals of the company.

With over 25 years of commercial real estate experience, Troy M. Cox’s successful track record of building and monetizing private real estate investment companies is built on identifying opportunities, assessing risk, structuring transactions with investment partners while optimizing returns. His significant experience in real estate operating companies and project capitalization, as well as his extensive industry relationships are beneficial in implementing CERTUS’ business strategy.

A lifelong entrepreneur, CERTUS Senior Living Chairman Richard “Dick” Corbett brings more than 30 years of experience in successful real estate ownership, investment and property development to the CERTUS Senior Living team. Throughout his career, Corbett has acquired a variety of notable real estate assets. He has developed over 3 million square feet of mixed-use retail, office and hotel projects – most recently the development and sale of International Plaza Mall in Tampa, Florida.

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Alicia Worrell
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