SOURCE: LCS

LCS

April 07, 2017 04:00 ET

LCS Grows Real Estate Investment Portfolio

Closes on new senior living community in Tennessee

DES MOINES, IA--(Marketwired - April 07, 2017) - LCS® announced the company added to its real estate portfolio with the closing of Clarendale® at Indian Lake on March 28, 2017. The community will be located in Hendersonville, Tennessee. This is the fourth Clarendale senior living community for LCS and its partners, Ryan Companies and Harrison Street Real Estate Capital. The transaction was facilitated by LCS Real Estate and the community will be managed by Life Care Services, both LCS companies.

Clarendale at Indian Lake is a $48.5 million senior living community offering independent living, assisted living and memory care apartments and services. LCS holds equity positions in 39 senior living communities nationwide.

"We have great synergy with our partners, Ryan Companies and Harrison Street Real Estate Capital," says David Laffey, Senior Vice President/Director of LCS Real Estate. "We're building considerable momentum with our real estate platform, which has been a strong addition to the LCS Family of Companies."

About LCS®

Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Life Plan Communities, also referred to as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides a full-service real estate private equity enterprise, insurance, national purchasing consulting services and in-home care. The companies of LCS serve thousands of seniors across the nation. For more information, visit LCSnet.com.

About LCS Real Estate™

LCS Real Estate, An LCS Company, is a full-service real estate private equity enterprise providing a full complement of capital market services to the parent company including investments, debt placement, and asset management of senior living communities. LCS Real Estate actively pursues transactions, connects its investor partners with opportunities, and sources deal flow. For more information visit LCSrealestate.com.

About Life Care Services®

Life Care Services, An LCS Company, is the third largest manager of full-service senior living communities. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plan Communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. For more information, visit lifecareservicesLCS.com.

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