Access Industries, a private industrial group also with a focus on institutional real estate announced its acquisition of a long-time owner/operator in the senior living space, JEA Senior Living. While the companies have combined, their relationship began earlier this year when Access purchased 10 of JEA’s senior living communities in Washington, Oregon, Texas, Tennessee and Indiana. JEA’s current portfolio numbers some 50 properties across the U.S., with a focus on memory care. Other properties are still in various stages of development.
The Access/JEA combination should prime JEA for further expansion (primarily through acquisitions but some developments, as well) and allow the operator to invest in improvements at its existing communities. For Access, partnering with such an experienced operator seems like a good move. Let’s hope the memory care market will be strong in the coming years, too.
