Lloyd Jones Acquires Virginia’s AVIVA Baldwin Park to Bolster Senior Living Offerings
In a strategic move to expand its footprint in senior housing, Lloyd Jones has successfully acquired Brightview Baldwin Park, a multi-faceted senior living community in Staunton, Virginia. This acquisition represents the first of its kind for the Dallas-based real estate investment firm for the year, fortifying its presence in the sector.
Brightview Baldwin Park, now rebranded as AVIVA Baldwin Park under Lloyd Jones’ in-house senior living brand, boasts a 136-unit campus offering independent living, assisted living, and memory care services. Comprising two separate three-story buildings set amidst a picturesque fifteen-acre estate, the property offers residents breathtaking views of the Blue Ridge Mountains and Shenandoah Valley along with an array of amenities including a comprehensive library, a beauty and barber shop, an inviting community fireplace, and a modern fitness center.
Christopher Finlay, the Chairman and CEO of Lloyd Jones, has expressed his enthusiasm for the new acquisition, stating, “This is a beautiful property in a beautiful area of Virginia. We hope to continue to serve the surrounding communities with exceptional senior living. To expand the excellent reputation of Baldwin Park, we have an experienced and loving on-site team in place, backed by the full resources of both AVIVA Senior Living and Lloyd Jones.”
Lloyd Jones is committing a substantial $3.1M towards capital renovations, focusing primarily on enhancing the northern building to parallel the recent updates made to the southern building. Furthermore, their emphasis on integrating cutting-edge technology, including keyless door locks, resident safety pendants, and new property camera systems, underscores their dedication to elevating residents’ safety and convenience.
The firm joins forces with SP Venture Partners, specializing in Co-GP investments and having a formidable history of managing significant equity in multifamily and senior housing real estate. The partnership is a testament to the shared vision and understanding of the importance of senior housing in today’s society. Peter Powers, co-founder of SP Venture Partners aptly summarizes this alliance: “My partner, Sean, and I both grew up with families that owned businesses that served seniors and have seen the increased need to provide senior housing that allows seniors to continue living fulfilling lives.”
This acquisition by Lloyd Jones marks a significant milestone for the company as it continues to identify and harness opportunities to deliver high-quality senior living experiences. The commitment to renovations and technological enhancements is a powerful statement on the company’s dedication to resident satisfaction and security, paving the way for a future where senior housing is synonymous with innovation, excellence, and empathy.