Heartis Fayetteville is scheduled to be completed in late 2017. (Rendering courtesy of Caddis)
Caddis, a national healthcare real estate firm, plans to develop independent living, assisted living and memory care senior communities across the region
FAYETTEVILLE, Ga., and DALLAS, Dec. 20, 2016 – As part of a major expansion into the Southeastern United States, Caddis, a national healthcare real estate firm headquartered in Dallas, recently broke ground on its first senior community in Georgia.
The community will be located in Fayetteville, which is about 22 miles southwest of Atlanta. Heartis Fayetteville will consist of three buildings totaling 157,029 square feet that will house 80 independent living units, 56 assisted living apartments and 32 memory care units.
Also in the development pipeline, Caddis plans to develop a Heartis senior housing community in Suwanee, Ga., which is a northeastern suburb of Atlanta.
Caddis officials say they see many benefits to expanding into the Southeast.
“The Southeast is a growing, vibrant region and cities like Atlanta and Fayetteville are sought-after places to live and work, as well as start a business,” says Jason Signor, Caddis CEO. “Also, the senior population in the area has been increasing significantly so there’s an important need for high quality senior housing such as Heartis communities. We look forward to developing additional senior communities in the Southeast.”
Katie Csobaji, Caddis Senior Vice President of Senior Living, noted “Until now we’ve focused on opening Heartis communities throughout Texas, as well as in Illinois and Wisconsin. Now we’re excited to introduce our beautiful, amenity filled senior communities to residents in the Southeast. Heartis communities offer a fun, dynamic environment with stimulating daily activities and the assistance of caring professional staff. We’re sure that area residents will find Heartis communities a wonderful housing option that takes senior living to new heights.”
Heartis Fayetteville will offer a wide range of special features and first class amenities, including spacious accommodations, large secured courtyards, swimming pool, outdoor walking paths, landscaped grounds, game and activity rooms, a beauty and barber shop, a beautiful dining room, chef-prepared meals and relaxing common areas. Other services include ongoing social and recreational activities, housekeeping and laundry services, nurse-supervised staff, assistance with personal activities, medical supervision and 24-hour emergency response.
The residence will be managed by Frontier Management, a senior living operations management company headquartered in Portland, Ore. Frontier currently manages five Heartis communities.
Caddis formed a joint venture partnership with Singerman Real Estate, LLC (“SRE”), a Chicago-based real estate investment firm, to develop the community.
Construction of Heartis Fayetteville is scheduled to be completed in late 2017. The Atlanta office of Choate Construction is the general contractor on the project.
About Heartis
Caddis, a national healthcare real estate firm based in Dallas, launched the Heartis senior living brand in early 2013 to reflect its mission of helping seniors live life to the fullest. In addition to Fayetteville, Caddis has developed and/or opened Heartis communities in the Texas cities of Amarillo, Arlington, Bedford, Conroe, Fort Worth, Cleburne, Clear Lake, Cypress, Longview, San Antonio and Waco, and in Illinois and Wisconsin. Heartis communities provide high-quality, high-value services, programming and amenities; on-site personalized support; and inviting, caring home-like environments. For more information, please visit www.Heartis.com.
About Frontier Management
Founded in 2000, Frontier Management has over 14 years of experience in successfully managing and developing senior living communities. Currently, Frontier operates 69 communities in nine states throughout the United States. For more information about Frontier Management, visit www.frontiermgmt.com.
About Singerman Real Estate
Singerman Real Estate, LLC is an opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. The principals of SRE have led and sourced direct investments in real estate totaling over $2 billion. Since its formation in 2010, SRE has sourced and executed, with partners, over $1 billion of investments across all major property types. For more information about Singerman Real Estate, please visit www.singermanre.com.
About Caddis
Caddis LLC is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired nearly two million square feet of medical assets valued in excess of $500 million. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 9th largest development company in the United States. For more information about Caddis, please visit www.caddis.com.
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