CategoriesCOMVEST Properties LifeCare Properties

Brooks Holstein accepted into Forbes Business Council

Forbes Business Council Is an Invitation-Only Community for Successful Business Owners and Leaders

BILOXI, Miss., Sept. 22, 2021 /PRNewswire/ — D. Brooks Holstein, Founder and Senior Managing Member of LifeCare Properties, LLC, has been accepted into the Forbes Business Council, the foremost growth and networking organization for successful business owners and leaders worldwide. LifeCare Properties is a wholly-owned affiliate of COMVEST Properties, LLC, a Biloxi, Mississippi-based commercial real estate development company.

Brooks was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors.

“We are honored to welcome Brooks Holstein into the community,” said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Business Council. “Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.”

As an accepted member of the Council, Brooks has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum and at members-only events. Brooks will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts.

Finally, Brooks will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team.

“I am honored to join the Forbes Business Council as I have always admired the Forbes brand for identifying innovative companies,” Brooks said. “This is an exciting opportunity for me to network with and contribute to the idea exchange of an elite group of business leaders.”

ABOUT FORBES COUNCILS
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

To learn more about Forbes Councils, visit forbescouncils.com.

About COMVEST / LifeCare
Founded in 2003, COMVEST Properties, LLC is a commercial real estate development company. In conjunction with its wholly-owned affiliate, Net Lease Developers and transactional development partners, COMVEST has developed over two million square feet of retail shopping centers and single tenant retail properties.

In 2018, COMVEST expanded its development platform with the formation of LifeCare Properties, LLC, focused on the development of resort style senior living communities. Under the terms of a joint venture with Blake Management Group, LifeCare brought The Blake senior living brand to markets in Texas. To learn more, visit lifecarepropertiesllc.com.

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CategoriesLifeCare Properties The Blake at Tyler

LifeCare Properties and ERG Enterprises Announce New Texas Senior Living Community

LifeCare Properties and New Orleans-based investment group ERG Enterprises, have joined forces to introduce The Blake at Tyler, a resort-style senior living community in East Texas. The Blake at Tyler, opening in 2023, will be the third Blake Community to come to Texas and will be managed by Blake Management Group.

LifeCare Properties (LCP) is the developer of this 100,000-square-foot assisted living and memory care community. Known as the Rose Capital of America, Tyler is centrally located on the I-20 corridor in Northeast Texas, ninety miles east of Dallas. As a regional hub accessible by several large cities and current population of over 225,000 residents, Tyler serves as the health care center for Northeast Texas and is home to some of medicine’s most advanced care. Tyler has four Level Three hospitals including a Level I trauma center. Additionally, Tyler has grown to be a predominant community with cultural diversity and quality education. The resort-style suites of The Blake will be designed for resident comfort, safety and enjoyable living that complements the culture of Tyler.

“We could not be more excited to continue our successful expansion of The Blake’s resort-style design and resident-centric senior living communities.” said Brooks Holstein, Founder and Managing Partner of LifeCare Properties.

Brooks added, “Tyler is a vibrant town with a progressive business community and astute leadership. We are confident Tyler’s seniors will be very impressed when they see what The Blake at Tyler will offer.”

The assisted living options include two-bedroom suites, one-bedroom suites and studios. The memory-support area of the community, focused on Alzheimer’s and dementia care, will feature both studio and one-bedroom suites specifically designed to provide a safe environment where resident’s socialization and specialized cognitive therapy plans are paramount. Walk with Me, Blake’s one-of-a-kind dementia care program, will also be available at The Blake at Tyler.

The Blake at Tyler will be located at The Crossing, along the Old Jacksonville corridor in Tyler. The Crossing is a thoughtfully planned and expertly executed multi-use residential, commercial, and retail development. The community has been carefully designed to provide natural surroundings, safety and diversity

“We are thrilled to join LCP and BMG in offering seniors a vibrant community that optimizes their quality of life. There is an incredible need for senior living communities like The Blake at Tyler, a reason we value the partnership and work to ensure older Americans gain access to the accommodations they deserve,” said Eric George, M.D., Founder and CEO of ERG Enterprises.

Dr. George, a full-time practicing hand surgeon and renowned entrepreneur, founded ERG Enterprises in 2006. While maintaining a fully-diversified portfolio, the company specializes in hospitality and healthcare, owning and operating entertainment venues, hotels, restaurants, hospitals, healthcare clinics and more.

Deeply rooted in hospitality, The Blake strives to provide the best care and quality of life. Communities are staffed by registered nurses 24 hours a day, seven days a week. The Blake also takes pride in delivering an exceptional dining experience with highly-trained chefs and food prepared purposefully for seniors. The Blake at Tyler joins The Blake at Waco and The Blake at New Braunfels in LCP’s senior living development portfolio.

Visit https://blakeattyler.com, for upcoming information about The Blake at Tyler.

More About LifeCare Properties 
LifeCare Properties, LLC, was founded on the core values of integrity, knowledge, accountability and results. Its goal is to design, build, and lease up unparalleled quality resort style senior living communities throughout the United States. Its parent company, COMVEST Properties, LLC, is a family-owned multi-generational development and investment company where these values have enabled growth across several real estate categories from hotels, to restaurants, to retail, and now senior living.

For additional information on LifeCare Properties, please visit www.lifecarepropertiesllc.com.

More About ERG
ERG Enterprises is a leading investment company committed to improving the human condition on a global scale. Since its founding in 2006 by Dr. Eric George, the company has grown the value of its portfolio to more than $1 billion in assets through intelligent investments and a partnership-first approach. ERG’s fully-diversified approach includes investments in more than 15 different industries and assets under full control and ownership in more than five. The company’s broad vision is complemented by an unparalleled depth of expertise and talent.

For additional information on ERG, please visit www.ergenterprises.net.

More About Blake Management Group
Defining senior living excellence, Blake Management Group is a privately held senior living operator formed in 2007 with the goal of providing outstanding senior living services that are meaningful, compassionate and innovative. Based in Jackson, MS, Blake Management Group is responsible for the operation of communities throughout AlabamaArkansasFloridaLouisianaMississippiSouth CarolinaNorth CarolinaTennesseeTexas and Virginia.

For additional information on BMG, please visit www.blakeliving.com.

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CategoriesLifeCare Properties The Blake at Waco

Move-In Coordinator/Director of Activities Joins Waco Team

Jole Cromwell, Move-in Coordinator/Director of Activities, The Blake at Waco

As construction nears completion on The Blake at Waco, Blake Management Group (BMG) has hired Jole Cromwell to serve as Move-In Coordinator and ultimately transition to Director of Activities.

Jole’s previous experience in senior care as a Director of Life Enrichment uniquely qualifies her to fill these roles.

More about Jole.

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CategoriesThe Blake at New Braunfels

DOS Named A Rising Star of New Braunfels

Vanessa Hayes, Director of Sales, The Blake at New Braunfels

Vanessa Hayes, Director of Sales for The Blake at New Braunfels, was recently recognized at the 4th Annual Rising Stars of New Braunfels Gala, honoring 20 outstanding young leaders in the New Braunfels Community.

As described in a Chamber Article, “The awards program and gala were hosted by the Greater New Braunfels Chamber of Commerce, the New Braunfels Jaycees, and the New Braunfels Herald-Zeitung…Intense review of all qualified applications was conducted by a Selection Committee to find the 20 Rising Stars. To be considered for the award, the individual must be under the age of 40, live or work in New Braunfels, and have made significant contributions to the community through continued success in their professional or community service activities.”

Read more.

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CategoriesLifeCare Properties The Blake at New Braunfels The Blake at Waco

BMG Fills Crucial Director of Wellness Positions in Texas

Blake Management Group (BMG) recently hired Directors of Wellness (DOW) for their Texas communities nearing completion in Waco and New Braunfels. Responsible for complete oversight of a community’s wellness systems, the DOW is one of the most crucial staff members.

Amanda Harness, Director of Wellness, The Blake at Waco

At The Blake at Waco, the role has been filled by Amanda Harness, BSN, RN.
More about Amanda.

Megan Perez, Director of Wellness, The Blake at New Braunfels

Megan Perez, RN, has accepted the position at The Blake at New Braunfels.
More about Megan.

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CategoriesLifeCare Properties The Blake at New Braunfels The Blake at Waco

LifeCare Properties Partners Tour Texas Sites

October 22, 2020 – Recently, managing partners Brooks Holstein, Jeremy Cole, Adam Mitchell, and Daniel Payne of LifeCare Properties (LCP) toured the Texas construction sites of The Blake at Waco and The Blake at New Braunfels. The 112-unit, upscale assisted living and memory care communities are being developed by LCP and will be managed by Blake Management Group (BMG), a leader in senior living. Joining the LCP team for the site visits was Anita Davis, BMG Texas Regional Director of Operations.

With roof trusses being installed at The Blake at Waco and second-floor walls going up at The Blake at New Braunfels, construction remains on schedule for early 2021.

“During the visits with BMG and onsite teams, lease-up and deposits are exceeding our expectations at this point.  We are looking forward to a productive end of year and early 2021,” noted Jeremy Cole, LCP managing partner and Chief Operating Officer.

The Blake at Waco is located at 5901 Crosslake Parkway, Waco, Texas, 76712.

The Blake at New Braunfels is located at 220 Creekside Crossing, New Braunfels, Texas, 78130.

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CategoriesLifeCare Properties The Blake at New Braunfels The Blake at Waco

National Real Estate Development Group Announces New Partner And Chief Operating Officer

Commercial real estate development company, COMVEST Properties LLC and their Senior Living Division LifeCare Properties LLC, announce new Managing Partner and COO

BILOXI, Miss. and LOUISVILLE, Ky., Sept. 10, 2020 /PRNewswire/
— Biloxi, Mississippi-based commercial real estate development company, COMVEST Properties LLC/LifeCare Properties LLC, announces a powerhouse name in senior living to their leadership team. Jeremy Cole joins the company as Managing Partner and Chief Operations Officer.

COMVEST/LifeCare Properties (LCP) is headquartered in Biloxi on the Mississippi Gulf Coast. COMVEST, through its wholly owned affiliate LifeCare Properties LLC, is a multi-generational and diverse commercial real estate development company that is currently focusing on luxury senior living communities that feature assisted living and memory care.

As Managing Partner and COO, Mr. Cole will oversee the company’s portfolio for asset management, strategic initiatives and pursuits for new development opportunities and innovation.

Cole will operate and expand LCP’s satellite office, located in the Butchertown historic district of Louisville, KY, as the city is an epicenter for senior living real estate, operations, technology and thought leadership.

“After working alongside the COMVEST/LCP team for the past several years, I’m thrilled to now be part of it and help drive expansion of this special development team and mission,” said Jeremy Cole. “Our founder, Brooks, has been a mentor to me and I respect his broad experience and acumen across many categories of real estate. He is a Harvard Alum and served on the Real Estate Advisory Board at the Harvard University Graduate School of Design. Brooks has a very diverse background in commercial real estate development. After seven years of being CEO for Blake Management Group, I look forward to adding my seasoned perspective to how we design our spaces, how we team with operations, and ultimately how we enhance the lives of seniors. We plan to target what we believe are growth markets and trade areas in the Southwest and the Mid and Mountain West. These are fun places to be for all ages.”

Cole spent more than 15 years in management consulting, working for Accenture LLC, Marriott International and as a campaign manager for various political campaigns. He has an MBA with a focus in Operations Management and a bachelor’s degree in Marketing from the University of Kentucky. He has been accepted to Harvard Graduate School of Design’s Real Estate Development program and will be a proud member of the 2021 class.

Cole’s experience and specialties include but are not limited to senior living executive management; senior care and service delivery excellence; senior software management; senior community operations and program/project management.

“We are thrilled to add Jeremy to our leadership team at COMVEST/LCP,” said Brooks Holstein, Managing Member. “Not only will he bring a tighter focus on senior living operations for all LCP assets, but he will also be a great partner and role model for our employees and vendors.”

Holstein has an expansive background in Corporate Real Estate development beginning his career in 1979 with Wendy’s International. He founded COMVEST Properties in 2003. In conjunction with Net Lease Developers and transactional development partners, COMVEST has developed over 2 million square foot of shopping centers and various single-tenant retail properties while establishing a lucrative retail portfolio. In 2018, COMVEST elected to exist the retail sector and expanded its development platform with the formation of LifeCare Properties, LLC, focusing primarily on upscale, resort-style senior housing. Under the terms of a joint venture with Blake Management Group, LifeCare Properties will assist in the expansion of The Blake senior living brand beginning with Texas communities: The Blake at Waco and The Blake at New Braunfels.

To learn more about Jeremy Cole, please visit his his LinkedIn profile by clicking here.

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CategoriesLifeCare Properties The Blake at New Braunfels The Blake at Waco

The Seniors Housing Business Interview: Jeremy Cole and Brooks Holstein

There are several common refrains about seniors housing:

  • New players are constantly entering the sector, enticed by seniors housing’s high return on investment and resistance to recessionary forces.
  • Those new players must partner with an experienced operator in order to succeed in this complicated field.
  • Medium-sized, regional operators are the most likely to succeed as they have scale that outshines mom-and-pop shops, but have tighter quality control compared with the behemoths of the industry.

That type of partnership is what Biloxi-based commercial real estate developer LifeCare Properties sought when it decided to work with Jackson, Mississippi-based operator Blake Management Group (BMG).

Blake is a regional seniors housing operator founded in 2007 with around 20 locations throughout the Southeast. The executives of LifeCare and its predecessor companies have been developing retail and hospitality projects for 50 years.

The two companies announced last year that they were forming a $225 million joint venture to develop 10 new seniors housing properties totaling about 1,000 beds over five years. The goal is to leverage LifeCare’s deep development experience with Blake’s operational success to push each other to new heights.

The first two projects in the venture — in Waco and New Braunfels, Texas — are currently under construction with an expected delivery in late 2020.

Seniors Housing Business spoke with Blake’s CEO Jeremy Cole and LifeCare’s founder and managing member Brooks Holstein to discuss the venture’s goals, and what their plans mean for the seniors housing industry as a whole.

Seniors Housing Business: What led to this venture happening? What did the two companies see in each other?

Cole: Our executive director at The Blake at Flowood (in Flowood, Mississippi) has family relationships with the CFO of LifeCare, and that CFO’s grandmother is a resident with us at The Blake at Flowood. A family conversation over Thanksgiving dinner led to a conversation with a LifeCare executive, which led to a meeting.

We liked that LifeCare has a lot of hospitality experience. Brooks is a second-generation hotel, restaurant and real estate developer, and we had a lot of similarities in the way we look at culture, people development, customer service and hospitality.

LifeCare has been, from the very first phone call, extremely open and excited to learn about senior living. They’ve been great partners to understand and enhance what we do. We’ve really enjoyed collaborating to build the new BMG community that they will design and build.

Holstein: We have an extensive background in retail development starting in 1980 when I was a real estate manager for a then-emerging hamburger company called Wendy’s. So we stayed focused on retail in earnest until about 2016 when we really saw the decimation of retail expansion. We felt like the industry was on decline based upon the consumer spending habits, weaker balance sheet and unsustainable corporate debt for retailers. We knew we were going to find another sector.

We had an introduction to the management team at Blake. We spent over six months getting to know each other, getting to understand each other’s culture. We each agreed at the end it was a fantastic fit for both companies.

Our platform is built on the use of equity from the limited partnership of my wife’s family. We like to control the projects. We don’t particularly care for having investors with different investment goals and criteria than we have. In the first two projects with Blake, we self-funded the equity and secured debt for the construction loans.

We try not to use other people’s money because other people tend to want a great deal of control. With our expertise and the expertise of Blake, that’s all we need to make a successful relationship and project.

SHB: Give us the nuts and bolts of how the joint venture between Blake and LifeCare works.

Holstein: Blake’s model is structured very similarly to a luxury hotel venture, where a developer provides the equity, secures financing, oversees all phases of development, with the input and participation of the operating partner. Once the project is completed, Blake has a total turnkey management role.

LifeCare owns the building, owns the improvements, but Blake makes all the management decisions from budgeting right down to front-of-the-house office.

Cole: And we have joint interest in the overall economics of the community. We’re happy to say that we have a very fair share of the upside.

SHB: The announcement mentioned that you’re using this partnership to expand Blake’s geographic reach (currently throughout the Southeast). I see the first two communities in the partnership are in Texas. Where else are you looking to go?

Cole: Our other two development partners — Cardinal Ventures and Quality Senior Living — are always looking for opportunities in the Southeast. With this joint venture we’re looking to expand throughout the Southwest, and perhaps in the Mountain West and Midwest.

SHB: Why those markets?

Cole: We have partners that look at demographics and where seniors are not only living or moving, but where other operators have high occupancies. We think there’s a lot of opportunity in those three regions.

Holstein: There was a lot of research that prioritized a list of six to 10 markets that held the greatest potential.

Blake has strategically developed a model that takes four to five communities to justify an area director that would oversee the management, and would have the executive director of each community report up to the area director.

Creating efficiency

SHB: The two Texas properties have identical renderings and unit counts. Are you planning to build on a template for these properties? If so, is this an effective way to manage development costs (and theoretically, by extension, rents)?

Holstein: In our experience, the development of a prototype not only allows you to control cost, quality and timelines, but it also extends over into building on the brand identity. When someone sees a Blake community developed by LifeCare, they will know it’s from both of us. We think that adds value across the board.

We spent six to nine months taking ideas from two prototypes of the preferred developers of Blake, combined them and brought in our own design and architectural team and built what we thought was an ideal prototype that could be used across multiple states.

Cole: These early joint decisions, operator and developer together, make a real difference. Our developers represent our advisory board. The operations team has a seat at the table while making decisions. I’m not sure we can do it any other way.

That was a big part of these joint venture discussions. LifeCare understood market selection, development and construction deeply, but they were very willing to learn what they do not know about senior living. When interests are aligned in programming, and operations are considered in both the market selection and design process, we find success. We find it imperative to have those interests aligned.

Holstein: We interviewed and hired one of the top senior living interior design firms in the country — Banko Design out of Atlanta — to help us regionalize the feel of the interior, to get more of a residential feeling that feels very familiar to our potential resident. The net effect has been fantastic in our view.

SHB: Seniors housing is currently overbuilt, according to the NIC numbers, driving occupancy down. How do you plan to develop in a way that won’t exacerbate that problem, and ensure your new communities succeed?

Cole: First and foremost, we take this trend very seriously, both in live operations and in development. We are making decisions on where we are going and market selection based on this risk. We’re being very deliberate and considering every overdevelopment risk possible before we decide on a market.

Secondly, in previous markets where someone has developed on top of one of our existing communities, we still deeply believe it comes down to the people that you hire, the culture you create and the services you deliver day in and day out. That’s our competitive advantage.

Each market we go into, we’ll either be the nicest community in the market or close, and we’ll be at a price point that’s highly competitive to all products in the market.

Holstein: There’s a fundamental component that gives Blake an advantage: The company is private. There’s no requirement of meeting growth benchmarks that other public companies have to meet. If a market is not ready, premature or oversaturated, they simply don’t have to develop.

The brilliance of Blake’s management is the C-Suite. They have so much experience, and they collaborated with us in looking at markets. If there were indicators of operational weakness or softness in rent, we would bypass that community.

We don’t want to just grab market share in an over-competitive market. We’d rather find an underserved market that meets a Blake community demographic profile, and get the most dominant site we can in the market.

It’s a bit of a new step for Blake. We’re trying to find retail or hotel locations at dominant intersections. We pay a lot of money for very good sites.

SHB: LifeCare’s other main partnership is with COMVEST Properties, which is largely a retail developer now looking to get into seniors housing. Is there anything you’re able to learn from COMVEST’s retail history that you can now apply to seniors housing?

Cole: Construction is not easy. When we start our preleasing and marketing efforts 15 months out from resident’s Day 1 we are selling and proposing a vision of senior living that some need right now. To communicate a timeline and deliver on a timeline for construction is extremely important for senior living. I’ve been in scenarios where, due to delays, we’ve had to rent hotel rooms and work with competitors because seniors have needs right now.

The value that I see LifeCare adding is that in other industries the company has worked in, the penalties and the construction diligence are extremely high. The company has developed for Walgreen’s, Office Depot and Starbucks. Being late is not an option.

The second thing that comes to mind is LifeCare’s background in customer service. When you open up a community, you have 110 units, 110 showers, 110 rooms that need to be fully operational. They understand through hotels and retail the commitment that we are giving to our residents when they move in.

The learning curve for customer service has been nonexistent with LifeCare.

Holstein: I formed COMVEST over 15 years ago as a retail development company. It basically is a real estate research and service company and its exclusive client is ourselves.

We’re used to approaching the development process with a very different, entrepreneurial look. We will invest heavily in our entitlements during due diligence, not wait until late to make significant capital investment. We’ll have $400,000 to $500,000 in architectural fees, but we’ll literally be able to start construction within days of closing on the property.

We’ve never had a failed project that we started but didn’t get built. That was just an expectation of the retailers. We learned to get very comfortable with the right consultants, architects and surveyors that we can rely on to help us make relatively aggressive entitlement decisions.

We also have a wide breadth of banking and lending relationships. We’re continuing to try to expand those as we go further west or toward the Midwest. Having established banking relationships is critical to the senior living sector.

The average Walgreens was a $5 million total development cost, with an equity cost of up to $1 million. Every Blake community is a $25 million project. It’s a very different profile for the lender.

SHB: How are you handling that step up?

Holstein: We went back to an existing lending relationship that had financed the last Walgreens we did. Coincidentally the lender also had been doing construction financing for one of Blake’s other partners.

The lender had the advantage of in-depth knowledge of the development skills of Blake. They had seen firsthand the way that we precisely overmanage our development. We are totally micromanagers when it comes to making sure we don’t overlook a critical aspect of a project.

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CategoriesThe Blake at Waco

The Blake Proudly Announces Its Second Texas Community

LifeCare Properties, together with Blake Management Group, introduces The Blake at Waco, a resort-style senior living community on Waco’s historic South Side (to the southeast geographically). This will be the second Blake location to open in Texas.

“We recently announced our first community in the great state of Texas, New Braunfels, and Waco is equally exciting for us as we continue this strategic plan,” said Jeremy Cole, CEO of Blake Management Group.

LifeCare Properties is developing the estimated 93,000-square-foot, 112-unit assisted living and memory care community. The assisted living and memory care suites will be designed for comfortable, safe and enjoyable senior living.

“Historically, The Blake fits really well in university towns like Waco, which we know is growing quickly. We are excited to be part of this growth from a healthcare and hospitality perspective,” said Cole.

The assisted living options include two-bedroom suites, one-bedroom suites and studios. The memory-support area of the community, focusing on Alzheimer’s and dementia care, will feature both studio and one-bedroom suites specifically designed to provide a safe environment where resident’s socialization and specialized cognitive therapy plans are paramount. Walk with Me, Blake’s proprietary program centered on dementia care, will also be available at Waco.

“By investing in industry leading engagement tools and programs like Walk with Me in our communities, we are providing what we believe is an unmatched memory care experience for residents and their loved ones,” said Cole.

Formerly a 158-acre industrial tract at Waco’s “front door” from the South, Blake at Waco is situated at Legends Crossing. Development of the area began with the 75-acre Baylor Scott & White Hospital campus. The hospital is now part of the high-end commercial project that includes an environmentally friendly and accessible network of hotels, restaurants, parks, lakes and pedestrian paths. The location is also in close proximity to Baylor University, which has a strong connection with Blake.

Cole added, “Baylor University is near and dear to our organization. BMG board member Edgar McKee is a Baylor graduate, and our COO Katie Kleinsmith lives in Austin and will be sitting on the Board of Advocates for Baylor’s Garland School of Social Work.”

Deeply rooted in hospitality, the Blake strives for the best in care and quality of life, as well as exceptional value. Communities are staffed by registered nurses 24 hours a day, 7 days a week. The Blake also takes pride in delivering an exceptional dining experience with highly-trained chefs and food prepared purposefully for seniors.

Visit www.blakeatwaco.com for upcoming news regarding development and pre-opening sales.

ABOUT BLAKE MANAGEMENT GROUP

Blake Management Group is a privately held senior living operator formed in 2007 with the goal of providing outstanding senior living services that are meaningful, compassionate and innovative. Based in Jackson, MS, Blake Management Group is responsible for the operation of 20 communities throughout Alabama, Florida, Mississippi, Tennessee, South Carolina, Louisiana, Virginia and Texas.

For additional information on BMG, please visit www.blakeliving.com.

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CategoriesThe Blake at New Braunfels

Blake Management Group Introduces New Senior Living Community in New Braunfels, Texas

LifeCare Properties, together with Blake Management Group, introduces The Blake at New Braunfels, a resort-style senior living community in the northeastern part of greater San Antonio. This will be first Blake location to open
in Texas.

LifeCare Properties is developing the 93,000-square-foot assisted living and memory care community. The assisted living and memory care suites will be designed for comfortable, safe and enjoyable senior living.

“We are delighted to introduce our first Blake senior living community in Texas,” said Jeremy Cole, CEO of Blake Management Group. “Our blend of upscale hospitality and commitment to high quality care will fit well in this vibrant city.”

The assisted living options include two-bedroom suites, one-bedroom suites and studios. The memory-support area of the community, focusing on Alzheimer’s and dementia care, will feature both studio and one-bedroom suites specifically designed to provide a safe environment where resident’s socialization and specialized cognitive therapy plans are paramount. Walk with Me, Blake’s proprietary program centered on dementia care, will also be available at New Braunfels.

“By investing in industry leading engagement tools and proprietary programs like Blake’s Walk with Me in our communities, we will provide what we believe is an unmatched experience for residents with cognitive changes and the peace of mind for their loved ones,” said Cole.

The Blake at New Braunfels will be situated at the intersection of I-35 and FM 306, one of the only intersections in the Austin/San Antonio corridor to connect to SH 130 and 1-10, three of the most traveled highways in Texas. It also neighbors a 56-acre Resolute Health Hospital Campus.

“We’re excited by the pro-development atmosphere we’ve experienced in New Braunfels,” said Brooks Holstein, managing partner with LifeCare Properties. “Combined with the natural beauty of the area and the charm and amenities the city offers, we’re convinced we’ve selected the perfect site for the Blake.”

Cole added, “New Braunfels and the entire I-35 corridor, from San Antonio to Dallas, is full of promise and development growth. Our goal is to find opportunities to bring Blake’s unique facilities and services to this quickly expanding community.”

Deeply rooted in hospitality, the Blake strives for the best in care and quality of life, as well as exceptional value. Communities are staffed by registered nurses 24-hours-a-day, seven-days-a-week. The Blake also takes pride in delivering an exceptional dining experience with highly trained chefs and food prepared purposefully for seniors.

Visit www.blakeatnewbraunfels.com for upcoming news regarding development and pre-opening sales.

ABOUT BLAKE MANAGEMENT GROUP
Blake Management Group is a privately held senior living operator formed in 2007 with the goal of providing outstanding senior living services that are meaningful, compassionate and innovative. Based in Jackson, MS, Blake Management Group is responsible for the operation of 20 communities throughout Alabama, Florida, Mississippi, Florida, Tennessee, South Carolina and Virginia.

For additional information on BMG, please visit www.blakeliving.com.

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CategoriesCOMVEST Properties LifeCare Properties

COMVEST Pursues Additional Asset Class Through Affiliate LifeCare Properties

BILOXI, Miss | October 17, 2018 – COMVEST Properties continues to expand its development opportunities with the formation of LifeCare Properties, LLC, focused on the development of upscale senior housing.

Recently, it was announced that LifeCare Properties and Blake Management Group (BMG) have entered into a joint venture that will expand the resort-style Blake senior living brand nationwide.

“After extensive discussions with the partners and senior executives of Blake Management Group and numerous on-site visits to Blake’s portfolio of communities, we were convinced that BMG would be an ideal operating partner,”
commented LifeCare Properties Managing Member, Brooks Holstein, “We appreciate BMG’s unparalleled commitment to resident care and services, as it complements our commitment to delivering superior properties.”

BMG (blakeliving.com) was founded in 2007 and currently has 17 resort-style senior living communities operating or in development Alabama, Tennessee, Virginia, South Carolina, Louisiana, Mississippi and Florida. LifeCare Properties
and BMG plan to open 10 more Blake-branded properties in select East Coast, Midwest, and Southwest markets over the next five years.

LifeCare Properties, LLC is a wholly-owned affiliate of COMVEST Properties, LLC, a Biloxi, Mississippi-based commercial real estate development company. Under the joint venture, Lifecare Properties will develop the properties and BMG will operate them.

ABOUT COMVEST PROPERTIES, LLC
COMVEST Properties, LLC is a commercial real estate development company. Together with its affiliate, Net Lease Developers, LLC, COMVEST is a developer and owner of shopping centers and single tenant net leased properties. For more information about COMVEST, visit COMVEST.net. For more on LifeCare Properties, visit LifeCarePropertiesllc.com.

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Blake Management Group Community Entrance
CategoriesLifeCare Properties

New JV Expands Blake Management’s Pipeline To 30 Developments Over Five Years

By Chuck Sudo | Senior Housing News | October 2, 2018

Blake Management Group (BMG) is setting its sights beyond the Southeast.

The Mississippi-based firm on Tuesday announced a joint venture with LifeCare Properties, paving the way to build up to 10 Blake-branded resort-style, senior living communities nationwide over the next five years. Already, BMG has plans to open 20 new properties by 2023, through projects with other partners.
BMG currently operates 17 communities across Tennessee, South Carolinas, Virginia, Florida, Mississippi, Louisiana and Alabama, in independent living, assisted living and memory care.

Biloxi, Mississippi-based LifeCare Properties Managing Partner Brooks Holstein, a veteran retail real estate developer, was looking to transition to health care and senior living and approached BMG 18 months ago about a partnership, BMG CEO Jeremy Cole told Senior Housing News. The two companies spent eight months reviewing each others’ cultures and fits, and looked at ways to grow the Blake brand nationally.

BMG, through the Blake brand, offers seniors assisted living, memory care and senior living in a hospitality-focused setting, a priority on customizing the resident experience to each tenant’s needs, dining programs with rotating menus with locally sourced ingredients, activities and social opportunities, and professional therapists and senior-specific equipment.

“This joint venture is an opportunity to build Blake communities with Blake design and branding, and go into parts of the country that we’re not in right now,” Cole said.

The JV is casting a wide net. Target markets include Texas, Missouri, Oklahoma, Arizona, Utah, northern Virginia, Maryland and Pennsylvania.

“All of these markets are underserved, with aging demographics, that are as good or better than the markets we’re in today,” Cole said.

LifeCare is BMG’s third JV partner. BMG has existing relationships with Jackson, Mississippi-based Cardinal Ventures and Quality Senior Living, out of Pensacola, Florida. The firm’s pipeline with those partners is expected to deliver 20 new Blake residences over the next five years, in addition to the new JV with LifeCare, Cole said.

The joint venture agreement was finalized last month. Development of new properties is expected to begin before the end of the year, and continue into 2019.

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