Source: Madison Realty / #Senior #Housing
PASADENA, CA - With the January acquisition of six assisted living facilities in the Rocky Mountain states, California's Madison Realty continues to build a strong senior housing track record.
"Both sellers and residents are happy when we acquire their properties," said Gary Langendoen, Madison Realty's Senior Managing Director. "We always want to work with existing management and keep the name, which so often reflects the care and hard work of the previous owner."
In California, Madison headquarters' office, former owners have been pleased with the firm's expertise and cooperation. Robert Craig, the previous owner and operator of several senior housing properties in the state, had a resident waiting list for one of them. Lacking resources for an expansion, he sold the property to Madison Realty and Madison kept him as the manager. He says he was impressed by both the level of care and the way the facilities were maintained after the sale. "I talked with residents and managers, and everyone was pleased with the new ownership. When we completed the purchase and sale of the property, Madison Realty were more than helpful in working both the city and me, and in providing the capital to expand the property and meet the needs of our seniors. I couldn't be happier."
Langendoen emphasizes his firm's commitment to the highest levels of resident care and to exceeding the expectations of each community in which Madison's properties are located. "We understand that caring for our residents is the most important thing we do," he says, "and we have the capital resources to provide that care at every one of our properties, every day."
In a country of aging baby boomers and an increasing incidence of memory loss, the U.S, Department of Health & Human Services says that the 65 and older population will double by 2030, and that seven in ten Americans over 65 will need long-term care.