Laurel Circle, formerly Arbor Glen, in Bridgewater— Courtesy: LCS
By Joshua Burd
One the nation’s largest senior living companies has acquired a community in Bridgewater, where it’s now planning a rebrand and millions of dollars in new investment.
The nonprofit, 299-unit community, Arbor Glen, announced Tuesday that it had been acquired by Des Moines-based LCS and has relaunched as Laurel Circle. As part of the deal, LCS will spend $8 million on major property renovations and improved lifestyle programming and health care services at the complex, which is located at 100 Monroe St.
Life Care Services, an LCS company and the third-largest manager of full-service senior living communities in the country, will take over operations at the property, according to a news release. The company manages more than 130 communities nationwide, serving more than 35,000 seniors.
A recent report by the Courier News said LCS paid $39.7 million for the Bridgewater property. On Tuesday, the now-former Arbor Glen touted the newfound financial security provided by the deal.
“Becoming part of Life Care Services will enable us to offer residents the benefit of its proven track record as one of the country’s premier senior living management partners,” said Felix Rosenwasser, CEO of Laurel Circle. “The new Laurel Circle will combine Life Care Services’ proven world-class lifestyle and healthcare services with our distinct culture built on our traditional Quaker values.”
The 23-acre Laurel Circle includes 183 independent living apartments, 19 independent living villas, 23 assisted living units, 10 memory care units and 64 beds of skilled nursing, the news release said. The new operator will begin with property renovations in areas such as a wellness and fitness area, which will also be expanded, while renovating a health center in the assisted living and nursing areas.
Building and exterior infrastructure repairs and upgrades include replacing windows, upgrading elevator cabinets and landscaping improvements, LCS said. The firm is also planning program enhancements focused on wellness and a memory care program focused on social interactions and familiar daily activities.
Meantime, a pending partnership with The National Institute for Fitness and Sport will secure an arrangement for its fitness professionals to oversee the Laurel Circle fitness programs.
“Arbor Glen is a strong community with great potential,” said Joel Nelson, CEO and president of LCS. “We look forward to watching Laurel Circle prosper supported by its new fiscally strong ownership that will enable it to optimally serve its current and future residents, alike.”
