HENDERSONVILLE, TN - LCS announced the company added to its real estate portfolio with the closing of Clarendale at Indian Lake. 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."
Life Care Services 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.