In November 2012, Fund V invested in the development of an Assisted Living and Alzheimer’s Facility located in the northwest quadrant of Augusta, Georgia. The investment was funded 80% by RSF and 20% by the developer and operator, National Healthcare Corporation (NYSE: NHC), a senior living operating company. NHC operates three RSF Fund III properties in Missouri and owns and operates 162 senior living facilities in the Midwest and Southeast U.S. The Augusta facility features 61 assisted living beds and 24 memory care beds in a 72,000 square foot, two-story design. The facility opened in July 2014.
RSF’s business plan was to develop a high quality assisted living and memory care facility in this affluent area of Augusta, GA, where all potential competitors were +95% occupied. NHC owned and operated a complementary skilled nursing facility in the same submarket, and had recently developed and stabilized a similar building in nearby Columbia, SC. RSF leveraged NHC’s extensive experience in the industry and its local knowledge to oversee the development and successful opening of the facility.
3899 Maple Avenue, Suite 250
Dallas, Texas 75219