Ventas has selected McLean, VA-based Sunrise Senior Living to manage its Battery Park independent living high-rise community in lower Manhattan. Sunrise will manage the property as it undergoes renovations to meet leading sustainability standards and enhance amenities.
Brookdale Senior Living sold the independent living community to real estate investment trust Ventas for approximately $194 million in 2018. The 14-story building offers 217 apartments overlooking the Hudson River.
“Today we are launching a comprehensive operating plan designed to appeal to the upcoming cohort of independent living adults expecting robust dining, lifestyle, entertainment and wellness experiences and to address the bespoke needs and wants of seniors who proudly call New York City home. By elevating the hospitality offerings and amenities at Battery Park, we will further align this exceptional community with our existing luxury portfolio in this strategic market,” Sunrise CEO Jack R. Callison Jr., stated Monday.
Founded in 1981, Sunrise operates more than 240 communities in the United States and Canada, offering independent living, assisted living, memory care and nursing and rehabilitative services at luxury, premium and middle-market levels.
Earlier this year, Sunrise added 13 communities to those it operates. Among the transactions, Sunrise assumed management of two assisted living and memory care communities in the Chicago area through a new joint venture ownership interest. Additionally, the company assumed the operation of a portfolio of eight independent living communities in the Rocky Mountains.
“Our Battery Park community is an exceptional residence in a beautiful park setting with extensive common areas and spacious individual apartments,” Ventas Executive Vice President of Senior Housing and Chief Investment Officer Justin Hutchens said. “We are proud to select Sunrise as the new operating and asset manager for our flagship renovation of this iconic, luxury independent living community. Our strategic investment in Battery Park continues Ventas’ commitment to enabling exceptional environments that benefit a large and growing aging population.”
