Improving our residents’ quality of life is how we create alpha. Even the smallest upgrade can drive value exponentially.
Bridge Seniors Housing Fund Manager LLC (“Bridge Seniors”) invests in seniors housing and medical property assets across its family of funds. We believe that seniors housing is one of the most attractive segments in the US real estate market, offering significant consolidation opportunities and durable industry fundamentals. The sector’s significant growth is driven by the long-term demographics of an aging population and the increased incidences of Alzheimer’s and dementia-related diseases. A significant supply/demand imbalance coupled with approaching functional obsolescence of meaningful supply provides the fundamentals for an extraordinary investment opportunity.
Our specialized, purpose-built Bridge Seniors team focuses on the value-add segment of the market.
We seek to acquire assets that will benefit from incremental capital investment and marketing, to reposition the assets and create substantial additional value. Such actions can include refurbishment and renovation, changing the resident mix (e.g., increasing the number of memory care units), adding services and amenities, and increasing the marketing footprint. Our longstanding industry relationships allow us to self-manage assets as well as partner with best-in-class, blue chip local operators.
Bridge Seniors Housing Fund Manager acquired Somerby Senior Living Services (“Somerby”) who continue to operate the portfolio under Bridge Senior Living. Somerby is a prominent management company in the Southeast, and as of March 1, 2019 Somerby managed 13 communities with an average occupancy of 94%. This vertical integration of an operating platform will enhance Bridge’s ability to maximize performance, as well as allow for the accelerated transition of underperforming third-party managers, more direct control of sales and marketing processes, and create greater opportunities to deliver results to our investors.
Bridge Seniors is among the largest owners of seniors housing units in the US.
Bridge Seniors has $3.6 billion of assets under management, operating 81 facilities with over 9,300 units, as of December 31, 2018. These facilities provide accommodations and extensive services to residents in our seniors housing communities and seek to enliven their lives through state-of-the-art dining, wellness, social and other programs.