Former Welbrook Senior Living executive Douglas Brawn has launched a new senior living company, Alta Senior Living. The vertically integrated senior living real estate investment, development and operations firm will have offices in Santa Monica, CA, and West Palm Beach, FL.
The firm already is working on a “healthy” pipeline of investment opportunities and targeting initial growth in Florida and California markets, Scott McCorvie, the firm’s chief financial officer and executive vice president of investments told McKnight’s Business Daily.
“Senior living is going to experience exponential growth over the next five to 10 years, and I want to make sure that we are staying disciplined in our growth, and that our industry remains focused on providing the best care options for our residents,” said McCorvie, who joined Alta after spending three years as president of Senior Living Growth Advisors. “Having a fully integrated company allows us to manage all aspects of the care – from the real estate, design and offered amenities down to the programming, menu selection and activity schedule.”
Washington-based nonprofit seniors housing operators forming affiliation
Meanwhile, Washington-based non-profits Transforming Age and SHAG, short for Sustainable Housing for Ageless Generations, announced their affiliation this week in a strategic move to further their shared goal of helping older adults sustain housing, essential services and social connection.
The move makes Transforming Age the eighth largest nonprofit senior living provider in the United States, serving more than 14,000 people through its five mission spheres: housing, community services, technology, philanthropy and partnerships. Although both firms will continue to operate as their own, independent 501(c)(3) not-for-profit organizations, the affiliation will be guided by a common board of directors.
“As the number of older adults soars, bold moves are needed to ensure seniors have quality homes, access to services and opportunities to thrive no matter their level of income,” Transforming Age President and CEO Torsten Hirche said. “This affiliation is a seismic shift that brings together two industry pioneers. Combining our networks will allow us to provide housing and integrated services to more seniors.”
The firms first began exploring the possibility of a strategic affiliation of an innovation forum in 2019, Kristen Crawford, Transforming Age’s corporate director of sales and marketing told McKnight’s Business Daily. They plan to focus on the industry’s mid-market sector.
SHAG CEO Jay Woolford also noted that the affiliation will expand the agency’s ability to deliver on their mission of empowering and sustaining people to age successfully.
“We’ve been able to do this through a model that builds a community network, integrates housing and coordinates services,” he said. “This affiliation allows us to have a broader impact and make a greater difference in the lives of seniors in our communities.”