Divestment of Luxury Assisted Living and Memory Care to Greater Orlando
(October 20th, 2016) – Lake Nona, FL – Index Investment Group announced today the divestment and recapitalization of Watercrest of Lake Nona, an assisted living and memory care facility located in the prestigious Lake Nona area between I-528 and I-417 off Narcoossee Road in Orlando, FL. Watercrest will retain minority ownership while continuing to operate the community under a management agreement with their new partner. Designed to surpass the standard expectations of senior living, this resort-like community offers exceptional amenities such as luxurious Spa W, multiple dining options with locally grown organic fare, private label Watercrest wines, grand balconies, pool and fireplaces, cultural programs, and distinctive opportunities for learning and social activities; all perfectly situated in the center of Lake Nona offering world-class education, Medical City, recreational facilities, diverse workspaces, retail centers, entertainment venues and vast residential options. The divestment of Lake Nona will be the first full cycle assisted living project executed by Index. The project features 80 units with 56 assisted living and 24 memory care.
All Index developments are intelligently designed with environmentally sustainable features, excellence in construction, modern and elegant style with amenities that provide residents with a high quality of life. We partnered with Watercrest because they develop their communities with the highest quality, sustainability and style.
“Index is proud to invest in projects and developments that provide real value to the community and Watercrest of Lake Nona provides that for seniors in Central Florida. This community is the premier option for those looking to live with more freedom in an attractive and convenient location with no shortage of amenities.” said Bjarne Borg, CEO of Index Investment Group.
Watercrest of Lake Nona, which broke ground in 2014, is a Class-A, assisted living and memory care facility with 80 units on 2.89 acres. Construction was completed in October 2015. Index and Watercrest have two more assisted living communities under development with one opening this November and the other breaking ground in late October.