Senior Living Operator Beztak Launches Third-party Management Platform Targeting Luxury Properties

Real estate company Beztak is launching a third-party management platform targeting luxury senior living communities, according to Executive Vice President of Senior Living Jason Kohler.

Beztak is seeking to take on new management of luxury senior living communities with strong underlying fundamentals or clear opportunities to enhance performance

 The company is remaining “selective” in which communities it chooses to manage, with the goal of adding approximately properties to its senior living management portfolio annually.

Beztak’s multifamily third-party management platform and its owned senior living portfolio will remain separate, Kohler said.

“This is the next evolution for us and our senior living segment,” Kohler said. “We’re taking a more intentional, measured approach tailored specifically to senior living.”

While senior living is a “different ballgame” compared to other real estate sectors, Kohler said the new platform is the “natural progression” of the company’s expertise in senior living.

Leaders of the new third-party senior living management platform include a senior vice president of operations and two regional directors of operations with support from the company’s dedicated senior living services team spanning culinary, clinical and life enrichment.

This deep bench strength will help propel the new platform’s launch while Beztak seeks out institutional and private ownership groups of upscale senior living communities, Kohler said. The management platform leverages Beztak’s existing infrastructure across operations, clinical, culinary, and support services.

Typical communities sought by the new third-party management platform will include a mix of independent living with portions of assisted living and memory care included.

“The community itself needs to be a Class A asset and well maintained and marketable as an upscale luxury community,” Kohler said. “We’re ready, and we’ve got the structure in place.”

The launch of the management platform aligns with Kohler’s vision that management platforms have the ability to “drive value” to support improved operating performance.

Farmington Hills, Michigan-based Beztak manages a portfolio of luxury senior living properties across two brand lines, Monark Grove and All Seasons, known for high-touch operations and strong occupancy and margin performance.

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