Financial Basics

Watermark Retirement Communities, with our development and acquisition partner, The Freshwater Group, enjoys strong relationships with a number of equity partners who have significant investment experience in the seniors housing sector. These partners are as creative and as visionary as we are, and together, we’re creating communities like none you’ve ever seen.

For example, in the past six months, we formed joint venture partnerships with QVT/Mt. Auburn Partners for the purchase of two assisted living and memory care communities in Beverly Hills and Livermore, California, respectively.  We have also formed a development venture with Chandler-Pratt Partners to complete a development platform of infill assisted living and memory care communities in Southern California.  The first of these communities is slated to commence construction in late 2012 in Fallbrook, CA.

Over the past five years we’ve partnered with Fremont Realty Capital, a private equity real estate investment firm with offices in New York and San Francisco, to purchase, renovate, reposition and expand three large-scale CCRCs on the East coast. We’ve also ventured with BayNorth Realty Capital, based in Boston, on the acquisition and ultimate sale of a portfolio consisting of five assisted living and memory care communities in the Northeast. In this same timeframe we also partnered with InterContinental Real Estate Corporation of Boston to purchase four of the assisted living and memory care communities that were owned by our venture with BayNorth Realty Capital.  In many of these ventures, we have co-invested with Stratis Capital Management and its principal, Fred Zarrilli. We are in negotiation presently with these and other capital partners about other investments across the nation.

Stay tuned - our company is as dynamic and innovative as our communities themselves, and we love to tell the stories of our partnerships and success.

(Photo, from left to right: Fred Zarrilli of The Freshwater Group, Connecticut Attorney General Richard Blumenthal, David Freshwater, President, The Freshwater Group, David Barnes, President Watermark Retirement Communities.)