Investment Examples

Texas CCRC Portfolio

Texas

In 2015, RSF acquired a portfolio of four Continuing Care Retirement Communities (“CCRCs”), allowing the communities to emerge from bankruptcy. The portfolio was acquired in a joint venture with an operating partner who specialized in CCRC management.

At acquisition, the portfolio was 87% occupied but losing residents and staff due to reputational damage from the bankruptcy. RSF honored resident Entrance Fee and Rental contracts to safeguard residents’ investment and insure proper care. RSF implemented a turnaround business plan which included new management, an extensive renovation of portions of each property, and construction of new cottages at two properties. One community was sold in 2021 with the remaining three sold in 2022. At the sale, overall portfolio occupancy was 90% and a cottage expansion was underway at one of the communities.