Related Companies and Atria Senior Living Announce Formation of New Joint Venture
Related Companies, the nation's most prominent privately-owned real estate firm, today announced a new joint venture with Atria Senior Living, one of the most highly respected, industry leading senior housing management services companies. Over the next five years, Related and Atria plan to develop, own and operate more than
"We have long focused on designing and building luxury environments in our country's most vibrant cities that cater to every aspect of our resident's lifestyle," said
"Atria Senior Living deeply believes where you live will determine how well you live and we couldn't be more excited to have a partner who shares our commitment to create the most thoughtful and enriching environment imaginable for seniors," said
The Related-Atria venture is driven by current research that concludes that people today are living longer, healthier lives. Over the next decade, the 75-plus age group will become an even larger segment of our society, and seniors' share of our population will likely grow to the highest level ever. Despite this trend, there continues to be a severe shortage of high-quality urban senior housing options throughout the country.
To deliver a unique and unrivaled experience to our residents, Related and Atria will work with leading architects, designers, gerontologists, nutritionists, and wellness experts to develop communities that will offer custom services and amenities. Each development will seek to create a more connected environment where extensive, thoughtful programming will include access to local cultural events and performances, and in-building amenities to include multiple restaurants, gyms and pool. Through partnership with local medical facilities, the highest quality of care and support will be available to improve overall senior wellness, while well-designed memory care residences and facilities will support residents with dementia.
The Related-Atria partnership is founded on a staunch belief that urban environments are ideal locations for seniors because cities keep them connected to their larger community and family, as well as to the services and amenities needed to support their lifestyle. The Related-Atria communities will elevate every dimension of senior living and bring a new level of amenities and concierge care to the market, enabling residents to truly live their lives to the fullest.
ABOUT RELATED COMPANIES:
Related Companies is the most prominent privately-owned real estate firm in
Related was recently named one of the "50 Most Innovative Companies in the World" by
ABOUT ATRIA:
Atria Senior Living is an industry leading senior housing management services company operating more than 225 locations and 27,000 units in
Atria is privately owned by its executives (33 percent), partnered with leading real estate investment trust Ventas (34 percent) and
Atria has built its reputation as a senior living industry leader with a focus on customer experience and quality. Its operating platform is one the most comprehensive in the industry and includes use of internally developed, proprietary, leading edge business support technology and advanced tools. Atria's internal, self-auditing Quality Enhancement program measures beyond state regulatory standards ensuring quality service in all aspects of the resident experience and results in the highest quality relationships with regulators and other industry stakeholders. Atria employs more than 16,000 and operates a state-of-the-art Support Center in
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