SHILLINGTON, Pa. – Lapis Advisers, a boutique investment firm located in Larkspur, Calif., has closed on its purchase of The Heritage of Green Hills, a healthy life plan community for seniors in Shillington, Pa.
This announcement follows an extensive due-diligence process resulting in Lapis choosing to retain 100% ownership of the property.
“As we have gotten to know the team and operation at The Heritage of Green Hills this past year, it’s become clear how special this place is for residents and the broader community,” says Basia Terrell, Managing Principal at Lapis Advisers. “We are fully committed to the community, continuing to deploy our owner’s representative, Will Haase of Certus, to accommodate making more enhancements to benefit current and future residents.”
Since the initial agreement was announced in September 2019, the community has completed a series of exciting renovations in the community’s Personal Care and Secure Memory Care neighborhood, including an attractive new façade that better coordinates with the Independent Living neighborhood building, and the creation of a new “country-kitchen-style” dining room. Featuring new cabinetry and a modern color palette, the new dining room includes an island that provides residents an opportunity to dine and observe meal preparation and service, as well as participate in activities outside of mealtimes
The Heritage of Green Hills is planning to build a new Healthcare Center and aims to make an announcement this fall pending approvals.
“Our community is debt-free and we’re ready for our next stage of growth to better serve our residents,” says Doug Walther, Executive Director. “Lapis Advisers has been a wonderful partner and our now-strengthened balance sheet is allowing us to pursue the long-term vision of developing the remainder of our property.”
It was previously announced that the investment firm chose to retain The Heritage of Green Hills’ current management company, Life Care Services (LCS), after an extensive review and due diligence process and has signed a 3-year agreement with the firm.
“We feel very positive about The Heritage of Green Hills, the investments we have made to date, and the potential for future growth on campus,” added Chris Conley, Managing Director, Lapis Advisers.
About Heritage of Green Hills
The Heritage of Green Hills is a healthy life plan community that provides independent living apartments and villas as well as personal care and secure memory care suites for seniors. The community’s Well by Design(SM) program focuses on 8 Dimensions of Wellness — a body, mind and spirit philosophy that enables residents to lead rich, fulfilling lives.
For more information, please visit www.HeritageOfGreenHills.com.