Senior Housing and Multifamily Owner-operators Join Forces
Combined Companies Offer Full Range of Luxury Apartment Lifestyle Options
Phoenix, Ariz. – Sept. 11, 2014 – Investment Property Associates (IPA), a leading operator of luxury multifamily communities in Michigan and Arizona, and Retirement Community Specialists, Inc. (RCS), a leading operator of luxury senior housing communities in Arizona, recently announced they have joined together under the same umbrella company, IPA, LLC.
RCS and IPA now operate together under the direction of a combined executive team and Board of Directors, including the four partners of IPA and Eric Johnston, the founder and owner of RCS. Both organizations will continue to operate in the marketplace under their respective names, leveraging the brands both companies have successfully built over the years.
The transaction, effective Sept. 1, 2014, created a multidimensional development and management company, differentiated by its ability to deliver quality lifestyles for students, professionals, families and seniors.
“The combination of IPA and RCS creates an exciting opportunity for our company, our residents, and our investment partners,” said Scott Brooks, a partner at IPA. “We both share a mutual promise of creating communities where our residents want to stay longer and invite others to join them. With the two organizations joining forces, we now have the opportunity to positively impact the lives of people across multiple generations, from great grandchildren to great grandparents and everyone in between.”
IPA and RCS came together in 2012 to develop Generations at Agritopia, the flagship community of the company’s “Generations” senior living brand. With plans to develop more communities in the Phoenix metropolitan market, “the decision to join forces was a strategic one based on the values and vision shared by both companies,” said Bill Fettis, a partner at IPA.
“The relationship between IPA and RCS was apparent from the first handshake over three years ago,” Johnston, president of RCS, further explained. “Together we will be able to deliver high-quality senior housing on a broader scale and create new opportunities for team members.”
In addition to the ability to build an owner-operated platform that incorporates innovative services and industry technology, the combination represents the opportunity to deliver enhanced services and benefits to residents and employees.
IPA develops, owns and manages Class A multifamily and senior communities in Greater Phoenix and Western Michigan that deliver outstanding resident experiences and consistent, competitive rewards to all stakeholders. In addition to providing prime locations, premium finishes, inspired designs, and resort-style amenities, IPA’s purpose is to support the desired lifestyles of its residents by creating community, encouraging wellness, and enabling technology and sustainability. For information, visit www.ipapartners.com.
RCS is the E.L.I.T.E. lifestyle company of the Southwest, enriching lives of seniors through caring, personalized services. The company, based in Phoenix, AZ, has been developing and managing high-quality independent living, assisted living and memory care communities since 1989. For information, visit www.rcsmgt.com.