New York-based institutional real estate investor Access Industries has invested in Vancouver, WA-based JEA Senior Living with plans to acquire and develop additional communities in select U.S. markets, the organizations announced Thursday.
“This partnership with Access Industries will equip us to better care for our current residents while laying the groundwork for expansion,” said JEA CEO Cody Erwin, who will remain with the memory care-focused company along with other members of JEA’s leadership team. “Demand for our communities will rise in the coming years, and Access is well-positioned to help us reach potential new residents while maintaining the high standards we have set for ourselves,” he added.
The transaction follows Access Industries’ March purchase of 10 senior living communities in Indiana, Oregon, Tennessee, Texas and Washington from JEA and its affiliates.
“The partnership with JEA furthers our desire to invest in crucial needs-based real estate with a best-in-class national operator,” said Jonah Sonnenborn, managing director and head of real estate at Access Industries.
JEA has managed, developed and owned senior living communities throughout the United States for more than 30 years. Its current portfolio includes more than 50 communities, with additional communities in various stages of construction or development.