Developer Continues Regional Growth
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCarmel-based Leo Brown Group LLC says it has opened two senior living communities in the Indianapolis area and begun construction on developments in Ohio and Kentucky. The company says the projects represent a combined investment of about $66 million.
July 8, 2014
News Release
Carmel, Ind. — Leo Brown Group, a Carmel-based developer, owner, and operator of healthcare properties, announces the opening of two senior living communities in the Indianapolis area and the start of construction of two new senior living communities in Ohio and Kentucky. These four projects combined equal $66 Million in new investment by the company. Through its management company affiliate, Traditions Management, Leo Brown Group will run the day-to-day operations of each of these communities.
Traditions at Solana opened its doors in early June. This $16.7 Million, 105-unit senior community is located within the new Solana at the Crossing residential development located at 78th Street and Keystone Avenue near Keystone at the Crossing. As a full continuum of care community, residents of Traditions at Solana have the ability to age-in-place due to the multiple senior living options present at the campus in the form of independent living, assisted living, and a secured memory care component for those residents with Alzheimer’s or other forms of age-associated memory impairment. In addition to a convenient location, residents and visitors will enjoy an unparalleled setting and natural amenities not found at any other senior living community in central Indiana due to the water features and surrounding woodlands provided by a 30 acre lake and the White River.
Traditions at Reagan Park, located in Avon just west of the Indiana University Health West hospital campus, also opened its doors in early June. Part of the larger Reagan Park senior living campus developed by Leo Brown Group, Traditions at Reagan Park is an $11.5 Million, 82-unit assisted living and memory care community. It joins the existing Thornbury Pointe senior apartment community and the Brooke Knoll Village Health and Rehabilitation skilled nursing facility at Reagan Park. The 25 acre Reagan Park campus will reach full build-out in 2015 upon Leo Brown Group’s completion of independent living garden residences for seniors, which will result in the most comprehensive senior living and long-term care campus found in Avon and Hendricks County.
Breaking ground in Granville, OH in May, Middleton of Granville is Leo Brown Group’s first senior living community developed in Ohio. The project is a joint venture between Leo Brown Group and Columbus, OH-based Continental Real Estate Companies. This $18.3 Million community consists of 94 assisted living and memory care units and is situated at the gateway to the quaint New England-style village that is the home to Denison University. The future residents of Middleton of Granville will experience a park-like setting situated on Raccoon Creek while also enjoying close proximity to historic downtown Granville’s shops and restaurants as well as the amenities and entertainment offered via the fine arts and athletic programs associated with the university.
Traditions at Beaumont, Leo Brown Group’s first development in Kentucky, begins construction this month in the southeastern Louisville suburb of Fern Creek. Consisting of 130 independent living, assisted living, and memory care units, the $19.5 Million community will provide this growing area of Louisville with an unmatched option for senior living. Traditions at Beaumont will be part of the larger Beaumont residential development that offers single family homes designed primarily for empty-nesters.
These four new Leo Brown Group senior living projects will be managed by Traditions Management and will enjoy substantial service offerings and amenities, which include a dedicated 24-hour nursing staff, emergency response systems, scheduled transportation (doctor appointments, shopping, trips/events), restaurant-style fine dining, casual dining, theatre room, fitness center, beauty salon/barber, library, chapel, walking paths and outdoor gathering areas, and daily recreational activities and events.
Tom Smith, President of Leo Brown Group, said, “The hard work our team has put forth since our company started in 2006 has been incredible. We have grown our company in a diligent and purpose-driven manner and have executed on our goal of becoming one of the Midwest’s leading owners and operators of private-pay senior living communities. We are proud to provide a new home and serve our residents at these new communities.”
Added Mike Wagner, Vice President of Leo Brown Group, “With the growing senior population in this country there is also a growing need for more living options for seniors. This growing demographic has sparked more and more investment and attention on the senior living sector for obvious reasons and we are very mindful of some markets that are already becoming saturated and overbuilt. These four senior communities that we chose to move forward on are the result of our in-depth due diligence process and feasibility work and each of them possess certain characteristics that give us a competitive edge in these individual markets and provide our residents with a community they are pleased to call their home.”
Leo Brown Group estimates that over 200 new permanent jobs and over 1,400 construction jobs have been generated through these four senior living communities.
Source: Leo Brown Group
About Leo Brown Group: Formed in 2006, Leo Brown Group, LLC is a privately-held company located in Carmel, Indiana with a primary focus on the development, ownership, and operations of healthcare properties. LBG’s team members have significant experience developing, building, and operating healthcare properties throughout the United States. This experience is primarily associated with senior living and long-term care communities, medical office buildings, and outpatient facilities.
Source: Leo Brown Group