Inspirit Senior Living and Venue Capital expanded their joint venture together, adding a third community in the Knoxville, Tennessee area in just a matter of months.
According to Levin Pro LTC, earlier this summer in June, Inspirit and Venue acquired two assisted living communities in Knoxville and Powell: a 62-unit assisted living community renamed Rain Forest Landings and a 40-unit assisted living community renamed Emory Ridge, respectively.
The joint venture’s most recent Knoxville acquisition is the assisted living community Windsor Ridge. Built in 2000, it comprises 62 units and 70 beds on 3.7 acres with units ranging from 330 to 427 square feet. The community is located near another stand-alone memory care community that Venue and Inspirit acquired earlier this summer, so there is no need to add memory care at the new location. A mom & pop owner, which had developed the community around 20 years ago, sold the property for an undisclosed price. Renovations are expected to start immediately.
