A boutique real estate investment firm, having just been founded in 2016, is making its first acquisition in seniors housing. The Wardman Group, based in Washington, D.C., plans to invest in value-add opportunities in the hospitality and seniors housing sectors, starting with a 92-unit independent living/assisted living/memory care community in Columbia, South Carolina. Bringing in Integral Senior Living to manage the property (its first in the state), Wardman will begin a $1.4 million renovation to the common areas, exterior and dining room, along with an expansion of its memory care offering from 14 units to 22. Post-renovation, the community will feature 38 IL, 32 AL and 22 MC units.
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