What is atria senior living?

Atria Senior Living, Inc. is one of the largest senior living providers in North America.¹ It currently operates more than 390 senior living communities in 45 states and seven Canadian provinces.² The company provides independent living, assisted living, and supportive living and memory care. Atria is based in Louisville, Kentucky.³

Atria communities are concentrated along the U.S. East and West Coasts, including 27 communities in metropolitan New York, and 43 in California with concentrations in the Bay Area, Orange County and Western Los Angeles markets. Atria also has a significant presence in metropolitan areas including Toronto, Boston, Houston, Atlanta, Chicago and Philadelphia.⁴

Atria Home Care, a subsidiary operating separately from Atria Senior Living, provides services in the New York City metropolitan area for seniors living at home.⁵

History

Atria began in 1996 when Vencor spun off its assisted living and independent living senior living communities into a public company called Atria Communities, Inc. It had 22 communities in 13 states with a total of 3,022 units, including 650 Assisted Living units and 2,372 Independent Living units.⁶

In 1998, Lazard Freres and Company purchased Atria Communities, Inc. for approximately $750 million, merging Atria with its Kapson Senior Quarters unit.⁷ In June 2003, Atria announced it was merging with ARV Assisted Living of Costa Mesa, California which was also owned by an affiliate of Lazard Freres Real Estate Investors LLC⁸^. On October 1, 2003, Atria Senior Living Group (“Atria”) named John A. Moore as Chief Executive Officer of the combined Atria-ARV company.⁹

By 2010, Atria had become the nation’s fourth largest senior living provider. In October 2010, Ventas, Inc. (NYSE: VTR) gained an ownership stake in Atria by acquiring its real estate assets for a total purchase price of $3.1 billion, using 24.6 million shares of Ventas common stock, worth approximately $1.35 billion, $150 million in cash and the assumption or repayment of $1.6 billion of net debt.  As part of the transaction, Atria spun off its management company to continue to operate the assets sold to Ventas.¹⁰ By 2011, Atria had more than doubled its revenue under management to over $1.3 billion.¹¹

In 2014, Atria moved its Louisville, Kentucky headquarters to the Nucleus building on East Market Street and expanded its space again in 2017.¹²

In September 2017, Atria’s response to Hurricane Irma resulted in evacuating nearly 1,000 residents, staff, and staff family members from Florida communities to the Walt Disney World Swan and Dolphin Resort in Orlando.¹³

In December 2017, Fremont Realty Capital, the investment office of the Bechtel family of San Francisco, acquired 50% of the Atria senior executive team’s ownership, providing an infusion of investment capital for innovation, growth and redevelopment of properties. The transaction resulted in an ownership mix of 33% Atria senior team, 33% Fremont, and 34% Ventas.¹⁴

In 2018, Atria announced a joint venture with luxury real estate firm Related Companies to develop, own and operate more than $3 billion worth of senior living communities in major, urban markets across the U.S. The joint venture initially includes sites in New York City, San Francisco, Boston, Los Angeles, Miami, Washington D.C., and other major metropolitan areas.¹⁵

In November 2018, the company safely evacuated all of its Atria Paradise residents and staff from the devastating California “Camp Fire” that destroyed some 1,000 structures and took multiple lives.¹⁶

In June 2021, Atria became the country’s second largest senior living operator with its acquisition of the management services business of Holiday Retirement, a Winter Park, Florida-based independent living provider. The acquisition deal also included Welltower (NYSE: WELL), a Toledo, Ohio-based real estate investment trust, who acquired all 86 of Holiday’s properties in a deal valued at $1.58 billion. Atria acquired Holiday Retirement for the purpose of providing senior living on a bigger scale at a middle-market price point.¹⁷

In 2021, Atria announced the launch of Glennis Solutions, a company developing and selling operations management software to other senior living providers.¹⁸

In May 2021, Atria staff had reportedly reached a 98% vaccination rate as a result of a vaccine mandate announced in January 2021.¹⁹ In October 2021, Atria and its Holiday subsidiary reported near 100-percent staff vaccine participation rates.²⁰

According to the J.D. Power 2021 U.S. Senior Living Satisfaction Study^SM Atria Senior Living ranked highest in family member / decision-maker overall satisfaction with assisted living and memory care providers.²¹

In October 2022, it was announced that Glennis Solutions would combine with two other companies, Enquire and Sherpa, to create a comprehensive software platform for the senior living industry. The combined company will reportedly serve more than 50 of the largest 150 senior housing operators, and more than 800 customers in total, representing 5,700 communities across the senior living, post-acute and home care sectors.²²

External links

Official website

LinkedIn Page

References

Original source: atria senior living. Shared with Creative Commons Attribution-ShareAlike 3.0 License

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5. Atria Home Care {{!}} New York Senior Home Care Agency|url=https://www.atriahomecare.com/our-services.php%7Caccess-date=2021-12-07%7Cwebsite=www.atriahomecare.com}} ↩

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