FOR IMMEDIATE RELEASE
COMVEST Pursues Additional Asset Class Through Affiliate LifeCare Properties
Biloxi, Mississippi (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 5 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.