Though senior living represents a small portion of Beztak Properties’ overall property holdings, which includes 35,000 market-rate apartment homes, it is a growing focus for the vertically integrated real estate firm.
The Farmington Hills, Michigan-based company has eight senior living communities in operation throughout Michigan, Florida and Arizona. That includes All Seasons Ann Arbor, an independent living community Beztak opened this month in Ann Arbor, Michigan.
The company’s leaders in March hired Jason Kohler as executive vice president of senior living. Kohler previously worked as the CEO of Tapestry Senior Living, and he has also spent time at Five Star Senior Living (Nasdaq: FVE) and Life Care Services.
All Seasons Ann Arbor has 156 units in one- and two-bedroom and two-bedroom cottage floor plans, with amenities such as three dining rooms, indoor and outdoor pools, an art studio with a kiln and an 80-person auditorium. Its design is inspired by Frank Lloyd Wright’s Prairie Style of architecture, and the community is surrounded by a wooded area.
Beyond its new opening in Ann Arbor, Beztak is planning a “robust pipeline” of senior living projects for its All Seasons brand, according to COO Elizabeth Carlson McCririe. Those plans include one community under construction in Michigan and two in development, one in New York and one in Florida. The company currently also is currently expanding one of its communities to add assisted living.
