Former Ascension Living President Danny Stricker is ready to launch Chapters Living through affiliation with St. Louis-based Green Street Real Estate Ventures.
Stricker told the McKnight’s Business Daily that the new company, also headquartered in St. Louis, initially will focus on acquiring existing assisted living and memory care communities in the Midwest while looking in the next phase to develop active adult living communities for residents aged 55 or more years.
Chapters has several deals in the pipeline, which Stricker said he hopes to close by the end of the calendar year. The company, he added, is looking to acquire communities that are anywhere between 40 and 70 units.
“We’re hyperfocused on the smaller environments. We believe that those environments are best for residents and team members,” Stricker said.
Stricker said he began his career in senior living and care as a college student, working as a caregiver in a 15-bed facility.
“That’s really where I knew I was supposed to be in senior living,” he said. “It was awesome. That’s what really launched me into the field.”
Two years later, he became a nursing home administrator. He now has 15 years of experience in senior living and care.
Stricker said he is pleased to have Green Street as a partner. The real estate, development, consulting and construction firm has a large presence in the multifamily market, and senior living is a “natural development” of that, Stricker said.
“It made a lot of sense to come work with them,” he said.
“We have an opportunity to make a real difference in people’s lives through the creation of Chapters,” Green Street principal Kevin Morrell said in a press release. “With Danny’s background and Green Street’s development expertise, we know that we can deliver an innovative experience for seniors, their families, and our community team members. Post pandemic, there is plenty of room to improve the experience.”