Vista Grande Villa, a 318-unit retirement community, has successfully completed an affiliation transaction with Otterbein SeniorLife, an S&P “A”-rated not-for-profit senior living system. Following the transaction, the community will be rebranded as Otterbein Jackson SeniorLife. In 2022, Lapis provided $30 million of financing to support a comprehensive repositioning of the community, including its conversion to a rental model. The investment funded extensive unit renovations, as well as upgrades to the lobby, common areas, and two dining venues. In partnership with Kauhale Healthcare Management, Lapis executed a strategic turnaround plan that delivered a strong operational recovery and significant financial improvement.
More information can be found here.