Milestone Retirement News
FOR IMMEDIATE RELEASE, July 5, 2011
JOE JEDLOWSKI JOINS MILESTONE RETIREMENT COMMUNITIES
Milestone Retirement Communities is pleased to announce the appointment of Joe Jedlowski as Regional Director of Operations. Joe was most recently with Atria Senior Living in Louisville, KY, where he was Vice President of Operations for the Mid-Atlantic and Mid-West, overseeing 12 Assisted Living/Independent Living communities (1400 units) in each region. Prior to that, Joe was Vice President of Operations with Senior Living Care Corp for 9 years. Joe brings a wealth of experience to Milestone specifically in healthcare administration, sales and marketing, budgeting and P&L management.
Milestone is a privately held management company operating 16 seniors housing communities comprised of 1278 resident units/beds. Milestone’s principals have ownership positions in 10 of those 16 communities.
FOR IMMEDIATE RELEASE, May 1, 2011
MILESTONE TO MANAGE A MEMORY CARE COMMUNITY TO BE BUILT
Milestone and the owner of one of the Phoenix area’s most recognizable age-restricted housing developers announced that a contract has been signed for Milestone to manage a 48 bed memory care community to be built in Mesa. Milestone is assisting the owner with design, development and the financial modeling for the community. “We started working with this owner group over two years ago, prior to the collapse of the housing market and economy. In the intervening period, we worked with them to scale down the project and locate it in a more suitable location. An 80 unit assisted living community is planned as an additional phase of development on the same site,” stated Paul Dendy, President of Milestone.
Once opened in mid-2012, this will bring the number of communities managed by Milestone to 17, comprising 1,326 resident apartments/beds. Milestone’s principals have ownership positions in 10 of those 17 communities.
FOR IMMEDIATE RELEASE, March 2, 2011
PRINCIPALS OF MILESTONE AND OTHERS LEASE RETIREMENT COMMUNITY
Milestone announced that a retirement community in Mesa, Arizona has been acquired by Nationwide Health Properties, Inc. (NYSE: NHP) and will be leased to and operated by an entity controlled by Milestone’s founders. The community, Arbor Rose, is comprised of 22 assisted living units (26 beds), an additional 16 assisted living units (20 beds) leased to a local hospice provider, and an award-winning adult day care program with daily capacity of 50 guests. In connection with the acquisition, NHP is providing financing for the construction of 15 additional assisted living units and a memory care wing that will house 17 residents in 16 units. “This campus is unique in the Phoenix metro area,” states Don Anderson, Milestone’s Vice President of Marketing and Clinical Affairs. He added, “contrasted with many of the communities managed by Milestone, Arbor Rose is not a turn-around with occupancy or operating issues. However, by bringing acquisition and construction financing from a capital source knowledgeable in seniors housing, Milestone is able to generate an increase in cash flow for the owners of the lessee.”
Milestone is a privately held management company operating 16 seniors housing communities comprised of 1,278 resident units/beds. Milestone’s principals have ownership and lease positions in 10 of those 16 communities.
FOR IMMEDIATE RELEASE, February 28, 2011
MILESTONE RETIREMENT COMMUNITIES HIRES JAMES (JIM) ALTRICHTER, R.N.
Milestone Retirement Communities is pleased to announce the appointment of Jim Altrichter as Director, Health Services, to oversee the clinical and health services management of its portfolio across the U.S. Prior to joining Milestone, Jim was a Clinical Specialist with Vascular Access Centers, LP, in Philadelphia, and Senior Product Manager at Glaxosmithkline supporting the marketing and promotion of products for the treatment of COPD. He has many years experience in the clinical services marketplace and brings progressive experience in marketing, sales leadership and business development.
Milestone is a privately held management company operating 15 seniors housing communities comprised of 1252 resident units/beds. Milestone’s principals have ownership positions in 9 of those 15 communities
FOR IMMEDIATE RELEASE, January 1, 2011
TWO NEW MANAGEMENT CONTRACTS FOR MILESTONE ARE ANNOUNCED
Milestone announced two new management contracts effective January 1. One is in Northglenn, Colorado for a 144 unit assisted living and memory care community owned by an institutional investment fund. It was formerly managed by a larger, national management company The other, a 64 unit assisted living and memory care community owned by a private investor group, is located in Tucson, Arizona and was managed by the owners. “I think this shows the versatility of Milestone’s abilities to serve owner/clients. Though the communities are much different in size and had very different approaches to management before Milestone, each owner group thought that a management company with deep experience that is committed to provide hands-on oversight by the company’s principals would improve the performance of their community. Milestone has those attributes and the community owners benefit from that,” stated Mark Wiesner, Vice President of Operations for Milestone. He noted that “the fact that we are owners of retirement communities ourselves creates a strong identity with property owners who know we understand their needs and, like them, may have to provide additional capital when things don’t go as well as planned.”
Milestone is a privately held management company operating 15 seniors housing communities comprised of 1,252 resident units/beds. Milestone’s principals have ownership positions in 9 of those 15 communities.
FOR IMMEDIATE RELEASE, August 1, 2010
MILESTONE RETIREMENT COMMUNITIES ANNOUNCES EXCEPTIONAL LEASE UP OF MANAGED COMMUNITY
Having opened the Sea View Senior Living Community on June 1 after a very successful pre-leasing program, Milestone announced that in the first two months of operations 60 apartments were occupied. “The reception for Sea View in the local community and surrounding areas was outstanding. It was a team effort to get off to this phenomenal start, but we are not reducing our efforts at all. While moving in residents to 60 apartments is quite an accomplishment,” Milestone’s Vice President of Marketing and Clinical Affairs, Don Anderson, said, “we have a lot of work to do with 75 more units and beds to fill. The team is up to the task.”
Milestone is a privately held management company operating 13 seniors housing communities comprised of 1,040 resident units/beds. Milestone’s principals have ownership positions in 9 of those 13 communities.
FOR IMMEDIATE RELEASE, January 1, 2010
PRINCIPALS OF MILESTONE RETIREMENT COMMUNITIES LEAD ACQUISITION OF OWNERSHIP IN RETIREMENT COMMUNITY
Milestone’s founders, Don Anderson, Paul Dendy and Mark Wiesner, along with the executive director of the community, acquired a 15% interest in a 66 unit independent and assisted living retirement community in Anacortes, Washington already managed by Milestone. The community is currently undergoing an expansion of 25 independent apartments that will open in mid-2010. “The owners of Chandler's Square invited these four individuals to become owners in the community in recognition of their role in the success that directly led to the decision to expand the community,” stated Lanney Wixson, Chairman of the Board. He added that “our long-term relationship with Milestone’s founders pre-dates the formation of Milestone and has always been characterized by high resident and employee satisfaction, good survey results and improving financial performance.”
Milestone is a privately held management company operating 12 seniors housing communities comprised of 880 resident units/beds. Milestone’s principals have ownership positions in 9 of those 12 communities.
FOR IMMEDIATE RELEASE, December 1, 2009
MILESTONE TO MANAGE A RETIREMENT COMMUNITY UNDER CONSTRUCTION
Milestone and a private investor group signed a management contract for a retirement community under construction in Brookings, Oregon, it was announced by the company. When the community opens (projected for June 2010), Sea View Senior Living will offer 45 independent living apartments, 55 assisted living apartments and 35 beds for residents needing memory care. Before signing the management contract, Milestone assisted the owners by identifying the need for fewer independent apartments and more memory care units, then worked with the owners and architect to re-design the building within the already approved footprint, accommodating the change in unit mix while improving operating efficiency. “Milestone’s principals have been involved in numerous seniors’ housing development projects in our careers, so this is a value we can bring to owners early in the design process. In this case, it was a greater challenge since the building was already designed, but the change will benefit the owners for years to come,” stated Paul Dendy, Milestone’s President.
FOR IMMEDIATE RELEASE, November 10, 2009
MILESTONE ANNOUNCES THE EXPANSION OF CHANDLER’S SQUARE IN ANACORTES, WASHINGTON.
Milestone Retirement Communities announces the groundbreaking of a 25 unit independent living addition to Chandler’s Square in Anacortes, Washington. This expansion should be completed and ready to occupy in July, 2010. The 25 units are 1-bedroom and 2-bedroom apartments and are being built with many upgrades including washer/dryers, fireplaces and appliance upgrades. This addition results from the strong performance of Chandler’s Square, which has averaged over 98% occupancy in the past 2+ years and has a wait list of over 40 individuals. Milestone’s principals began managing Chandler’s Square in 2003 and since then, net operating income has more than doubled while maintaining high census.
FOR IMMEDIATE RELEASE, September 15, 2009
RETIREMENT COMMUNITY ACQUIRED BY PRINCIPALS OF MILESTONE RETIREMENT COMMUNITIES
The founders of Milestone, Don Anderson, Paul Dendy and Mark Wiesner, acquired a 38 unit, 53 bed assisted living community in Fallon, Nevada from a private owner exiting the business. The community is the only assisted living provider in the Fallon area and also leases a portion of the building to the Veterans Administration for a day-use health clinic and another portion to a pregnancy and young mother counseling center. “Seniors needing assisted living services live in small towns and large cities. We see opportunities to make a difference in the lives of seniors in many different settings. The former owner had done a nice job of establishing the community within the local area and worked with us to finance the acquisition, so it was a win-win,” said Anderson, “and we are glad to be part of caring for seniors in Fallon.”
Milestone is a privately held management company operating 12 seniors housing communities comprised of 878 resident units/beds. Milestone’s principals have ownership positions in 8 of those 12 communities.
FOR IMMEDIATE RELEASE, August 15, 2009
MILESTONE HIRES PATRICK DOOLEY TO ASSIST OPERATIONS:
Milestone Retirement Communities has hired Patrick Dooley to serve as a Regional Director of Operations for their expanding needs as new properties have been recently added under their management portfolio. Patrick has 9 years experience in seniors housing, including 3 years as a General Manager for Leisure Care and, more recently, 6 years with Bonaventure Senior Living (formerly Mountain West) as an Administrator, Regional Director of Operations and Corporate Director of Quality Assurance. Patrick has many years of experience in the hospitality industry and has also served as a Regional Director of Business Development for a company that provided technological support for various businesses. Patrick will assist in overseeing two turnaround properties initially and will assume the start-up of operations for Sea View Senior Living which will open in June, 2010.
FOR IMMEDIATE RELEASE, May 8, 2009
MILESTONE IS SELECTED TO MANAGE 3 RETIREMENT COMMUNITIES
Milestone has been selected to manage three seniors housing communities owned by a private investor group. The three communities are located in Englewood (Denver area), Colorado; Oklahoma City; and Roanoke, Virginia. They comprise 295 units of assisted living and memory care. Paul Dendy, President of Milestone, stated, “We are pleased to add these managed communities to our portfolio, and appreciate the confidence in Milestone shown by the owners, for whom we have been managing another community in California since late 2008.” It took a total team effort to take on these three communities on the same day in three different time zones, and the initial transition went smoothly. “Each community has different challenges, but all share a significant need for effective leadership, plant maintenance, marketing, efficient resource usage and customer service,” noted Mark Wiesner, Milestone’s Vice President of Operations. He continued by addressing the commitment required to turn around these communities. “Milestone agreed to manage these communities, two of which are outside our original business plan’s geography, to provide a needed service to a good client. The turnaround will require a full-time presence by a Milestone regional director of operations in each community for several months, so that is what we have planned to do.”
Milestone is a privately held management company operating 11 seniors housing communities comprised of 825 resident units/beds. Milestone’s principals have ownership positions in 7 of those 11 communities.
FOR IMMEDIATE RELEASE, May 1, 2009
FOUNDERS OF MILESTONE RETIREMENT COMMUNITIES ACQUIRE OWNERSHIP IN A RETIREMENT COMMUNITY
Milestone’s founders, Don Anderson, Paul Dendy and Mark Wiesner, have acquired approximately a 15% interest in the general and limited partner interests of entities owning and operating a retirement community in California managed by Milestone since late 2008. “Acquisitions such as this are part of our business plan. Purchasing this ownership position completely aligns us with the rest of the owners and enhances a long-term relationship. Closing this transaction six months after the inception of our management contract gave both us and the owner group time to get comfortable with each other and the financial potential of the community,” stated Paul Dendy, Milestone’s President. He also stated, “we expect to do more transactions of this type.”
FOR IMMEDIATE RELEASE, November 1, 2008
MILESTONE IS SELECTED TO MANAGE RETIREMENT COMMUNITY IN CALIFORNIA
Milestone responded quickly to an owner seeking a new management company to turn around a 66 unit assisted living and memory care retirement community in Susanville, California, and was selected over another management company to begin management within 6 weeks of the initial inquiry. The rapid commencement of the management contract was noteworthy as it required state licensing approval that was obtained much more quickly than normal. “This community needed a quick change in management due to financial and other issues of the prior management company. State licensing personnel were very helpful in making the change occur quickly in the circumstances. The fact that our principals have prior management experience in the state and that we brought in the best professionals in the field to assist in the licensing transition, were also critical to the fast approval,” stated Mark Wiesner, Milestone’s Vice President of Operations.
Milestone is a privately held management company operating 8 seniors housing communities comprised of 530 resident units/beds. Milestone’s principals have ownership positions in 6 of those 8 communities.
FOR IMMEDIATE RELEASE, June 17, 2008
RETIREMENT COMMUNITY ACQUIRED BY INVESTMENT FUND AND PRINCIPALS OF MILESTONE RETIREMENT COMMUNITIES
Courtyard Towers, a 175 unit retirement community in Mesa, Arizona, has been acquired by a joint venture of Harrison Street Real Estate and the principals of Milestone. Financing was provided by a first mortgage from Fannie Mae coordinated by Milestone. The community is a 13 story building in downtown Mesa, providing access to local cultural venues and shopping. Many apartments have spectacular city light and mountain views. Courtyard Towers is fully licensed for assisted living and has 30 units dedicated to memory care services. Both independent and assisted residents are accommodated in the remaining apartments. According to Paul Dendy, Milestone’s President, “This acquisition is the first transaction through the joint venture with Harrison Street. We expect to complete many other transactions by seeking value creation opportunities similar to this one. Courtyard Towers has a great position in the local community and we are confident in our ability to increase occupancy and improve the operating margin through our hands-on management.”
Milestone is a privately held management company operating 7 seniors housing communities comprised of 464 resident units/beds. Milestone’s principals have ownership positions in 6 of those 7 communities.
FOR IMMEDIATE RELEASE, April 1, 2008
EXECUTIVES WITH EXTENSIVE SENIOR HOUSING EXPERIENCE FORM NEW VANCOUVER, WASHINGTON BASED SENIOR HOUSING MANAGEMENT COMPANY, MILESTONE RETIREMENT COMMUNITIES, LLC.
Paul Dendy, Mark Wiesner and Don Anderson are pleased to announce the formation of Milestone Retirement Communities, LLC. The company specializes in day-to-day management of senior housing and retirement communities in the Western United States. The company’s office is located at 13115 NE 4th Street, Suite 120, Vancouver, Washington.
The founders collectively have over 70 years experience in seniors housing and related industries. Paul Dendy has 20 years experience in financial and fiduciary roles with several large seniors housing management companies and most recently was President of LifeStyles Senior Housing Managers, LLC. Mark Wiesner has over 20 years experience in seniors housing and served as Vice President of Operations with Alterra Senior Living and most recently, Vice President of Operations for LifeStyles Senior Housing Managers, LLC. Don Anderson has collectively 32 years experience in the acute care medical industry and seniors housing and most recently was vice President of Clinical and Marketing Services for LifeStyles Senior Housing Managers, LLC.
“We have a tremendous resource in our operational experience and practical knowledge which is beneficial for our clients and the communities that we manage,” states Don Anderson. “We feel our focus on personal involvement, oversight and support of the communities we manage is a unique advantage. Our goal is to provide a level of service and delivery that is tailored to each of the communities we serve,” explains Anderson. “Developing a personalized relationship with each community we manage allows us to make decisions based on the needs expressed by residents and family members, as well as the specific opportunities that exist in those cities. We pride ourselves on avoiding a cookie cutter approach. Our desire is to create exceptional environments that meet the emotional, physical, social and spiritual needs of our primary customers: our residents and their families” states Mark Wiesner.
Milestone Retirement Communities, LLC, currently operates in Washington, Oregon and Idaho, providing an a la carte menu of services for investors, developers and current owners in the senior housing industry. “What we provide is a vast array of services to meet the needs of project sponsors, whether those needs are analysis of new projects, assistance in the development and lease-up of new properties, in securing short and long-term financing, locating and completing acquisitions or entering into short or long term management contracts” states Paul Dendy. “Our success is dependent on our ability to meet and exceed our customers’ needs, long-term goals and objectives. We tailor our services based on each of our customers’ needs whether it is dealing with large CCRC’s or small rural communities,” he added.
Milestone Retirement Communities, LLC is privately owned and operated. For more information contact Don Anderson at (360) 882-4500.
