Religion-based nonprofit Saint Therese is making progress on its objective of impacting 25,000 lives within the subsequent decade with its second acquisition up to now six months.
The St. Louis Park, Minnesota-based nonprofit on Could 1 acquired The Belvedere of Heritage Retirement Communities of Westlake, Ohio, from Heritage Retirement Communities. The 33-apartment neighborhood is positioned 4 miles from Saint Therese’s different Ohio acquisition of St. Mary of the Woods in Avon, and helps solidify the group’s presence within the state.
Following these acquisitions, Saint Therese now has seven communities in three states, a footprint that may present steady floor for the corporate’s aspirations forward, based on President and CEO Craig Abbott. Over the following yr, the group is looking regionally and nationally to search out markets the place it may well carry its mission, imaginative and prescient and social influence to bear.
“We’re actually attempting to be extra targeted and centric on the place we are able to take a look at markets, states and areas that make sense for us,” Abbott informed Senior Housing Information.
Up to now, the group’s progress has been centered within the Midwest with places in Minnesota, Michigan and now Ohio. Over the approaching yr, although, Saint Therese plans to conduct market research to search out “good strategic enhances” for its portfolio throughout the nation.
The group is searching for to develop by acquisitions, partnerships, affiliations and probably new growth, although he famous the latter would require “the best alternative.”
The group follows an entrepreneurial working system to assist additional strategic targets in quarterly, yearly, three-years and 10-year increments.
That has helped Saint Therese obtain a 91.7% common occupancy fee throughout its portfolio, with resident and workers satisfaction “above trade benchmarks” and turnover steadily bettering, Abbott famous. Saint Therese is a part of a three-organization consortium that has taken half in a efficiency enchancment grant from the State of Minnesota, and the 2 Saint Therese communities tied to it noticed the best improve in retention and reduce in turnover out of all concerned.
Within the the rest of 2025, the group is planning a “hole evaluation” to be taught what the group is doing properly and what it may well enhance for residents and staff.
“The rose is our emblem. As we discuss resident and worker expertise, we actually need to see {that a} yr from now, that rose has bloomed,” Abbott stated. “We’re blessed to have plenty of alternatives come our approach. I will surely count on over the following yr that we’ll see further mission growth as a factor we understand.”
He added: “For us, it’s the conclusion of laying out strategic plans, laying out for the place we need to see the group being month-over-month, year-over-year after which ensuring that we’re seeing constructive outcomes as we’re occurring that journey.”
