One of the largest senior housing operators in the U.S. is moving forward with its previously announced plans to scale up its rental senior housing portfolio, and the effort now appears to be bearing fruit.
Des Moines, Iowa-based Life Care Services, An LCS Company, is on track to open a minimum of 17 communities in the next three years — though the end total might be much higher, according to Chris Bird, executive vice president and director of rental at LCS. In addition, occupancy is on the upswing following some operational changes, notably related to empowering executive directors.
“We’re always going to be opening up five to six communities every year among our different brands … including Delaney, Clarendale, and Celebration with Big Rock Partners,” Bird told Senior Housing News. “But I would suspect that every year you’ll see LCS grow by [an even higher total of] 10-12 rental communities, if not upward of 15, as we continue our success and owners want to be part of that success.”