Senior residing firm Solinity through its improvement division has introduced a brand new partnership and plans to execute on a $300 million acquisition and improvement pipeline.
Solinity’s new pipeline is ready to focus on multigenerational and mixed-use, “age-friendly” communities within the U.S. Southeast. The Knoxville, Tennessee-based firm final 12 months laid out a development technique to increase its attain within the area, the place it has scale and help. That effort will proceed this 12 months, Solinity CEO Josh Crisp mentioned.
“We imagine the distinctive tradition and understanding of markets within the southeast and the flexibility for main stakeholders to be engaged at the area people degree is important to constructing tradition and synergy,” he mentioned.
He added that Solinity “is aggressively pursuing acquisition alternatives and developments,” with one group opening slated for later this 12 months.
The corporate, which has administration, improvement, advertising and consulting divisions underneath its umbrella, is launching the brand new effort underneath its Solinity Growth banner with two new companions, William H. Holly and John Moore.
Holly is a veteran of actual property who most not too long ago based Patton Actual Property Group, whereas Moore has a background in actual property, business improvement, consulting and deal structuring.
Moore additionally beforehand collaborated with Crisp to conceptualize the corporate’s new Hometown Residing model, which is centered on housing and companies in secondary and tertiary markets. The corporate’s first group underneath the model was a 36-apartment assisted residing and reminiscence care group it acquired final 12 months in Johns Creek, Georgia, now dubbed St. Ives Hometown Residing of Johns Creek.
Within the near-term, the corporate will deal with acquisitions of present communities. Solinity and its companions are in search of acquisition targets “which have been constructed throughout the previous 15 years in development markets with development potential.”
“We’re looking for communities that we will reposition not solely by higher administration and advertising but in addition doubtlessly replace and re-design, and doubtlessly add extra models and/or continuum of care to the campus,” Crisp mentioned.
He added Solinity has a number of master-planned developments within the works and is looking for land homeowners with which it might probably companion on new tasks.
“We’ve a really research-driven improvement mannequin that takes into consideration native wants and inhabitants wants for a customized design to suit the location and market,” Crisp mentioned.
It’s no secret that improvement stays powerful to do in 2025 as lending stays comparatively frozen. And to that finish, Crisp mentioned financial components and rates of interest have led to “multifaceted” challenges for improvement tasks of every kind.
“As a result of we’re a grasp plan developer designing campuses and city facilities which might be multi-generational and mixed-use along with age-restricted and licensed senior residing housing, typically our developments cross a number of funding silos that take time to drag collectively,” Crisp mentioned. “Attracting the correct land companions and funding companions that perceive the long-term worth of age-friendly tasks has been a method that we’re preserving developments shifting throughout tough years.”
He added that “Solinity and our companions have persistently been unwavering in our dedication to shifting forward even throughout tough instances.”
“With our present pipeline of improvement and urge for food for acquisitions, we’re poised to execute as many offers as is sensible for us. We’re cautious and selective, solely taking over alternatives that may present the very best high quality of housing and companies to the markets we enter,” Crisp mentioned.
