N.O.-Based Private Equity Firm Sells 2 Senior Living Facilities
NEW ORLEANS — Quality Senior Living Partners, a LongueVue Capital portfolio company, announced the sale of two senior living communities – The Blake at Colonial Club (in Harahan, La.) and The Blake at Charlottesville (Virginia) — to a publicly traded real estate investment trust. The two Blakes are both 118-unit assisted living and memory care communities.
LongueVue Capital is a private equity firm based in New Orleans with offices in New York and Salt Lake City. Founded in 2001, it claims to have more than $500 million under management across 20-plus platform companies and three funds. In 2017, LongueVue partnered with QSLP — a Pensacola, Florida-based developer, owner and operator of senior housing communities — to build more of its private-pay, “resort-style” communities that don’t charge buy-in community fees. QSLP has launched facilities in Alabama, Florida, Louisiana, Mississippi, Tennessee and Virginia.
“QSLP is a first-class operator sharing our partnership mentality,” said John McNamara, LongueVue co-founder and managing partner, in a press release. “They exhibited dedication and professionalism throughout the development of these facilities. Working with them to develop and operate new luxurious senior communities with resort-style services, unmatched access to wellness programs, and state-of-the-art technological features has been a rewarding experience for the LVC team.”
The $28 million Blake at Colonial Club, which celebrated its grand opening in June of 2021, was built on the former site of the shuttered Colonial Golf & Country Club in Harahan. The community is the first real estate development on the former Colonial site, an 88-acre property near the Mississippi River that has been vacant since 2012. The Blake is expected to create 80 to 100 jobs and be home to over 120 residents when fully occupied. The 115,000-square-foot space has 70 apartments for assisted living and 48 apartments for memory care.
“We take care of the details, so our residents can enjoy the finer things in life,” said Glenn Barclay, the Blake’s co-founder and CEO, at the time of the grand opening.
The Blake promises luxury accommodations, elegant dining options, concierge service, 24-hour nurse staffing, and an active social program. Also on offer: a piano bar and lounge, a full-service coffee shop and ice cream parlor, a spa and salon, onsite therapy services, a sunlit chapel, a movie theater, activity rooms, landscaped courtyards with an outdoor fire pavilion, a library, and on-site parking.
Rebecca Jeffries is the property’s executive director. The architect for the project was Arrive Architecture Group from Fort Worth, Texas. The general contractor was EBM Group out of Mobile, Ala.
“LongueVue Capital has been a fantastic partner enabling us to accomplish our goal of providing outstanding senior living services that are meaningful, compassionate and innovative,” said Andy Yarborough, QSLP CEO. “LVC’s partnership approach and significant experience — coupled with their commitment to provide both capital and strategic resources to help us accomplish our objectives — has made them the ideal private equity partner for QSLP.”
LongueVue Principal Max Vorhoff and Vice President Evan Golden worked alongside John McNamara and Ryan Nagim on the QSLP investment. Jones Walker served as legal counsel to QSLP.
LongueVue is focused on targeting investments within its key sectors: healthcare and life sciences, food and beverage, specialty packaging, transportation and logistics, consumer, industrial services, and niche manufacturing.
For more information on LongueVue Capital, please visit www.lvcpartners.com.
For more information on Quality Senior Living Partners, please visit www.qslmanagement.com.