The addition will increase the number of Lifespace communities to 18, with three in the Chicagoland area
DALLAS and SCHAUMBURG, Ill., Feb. 2, 2023 /PRNewswire/ -- Lifespace Communities announced today that it has finalized a transaction with Friendship Senior Options (FSO) to transition sponsorship of one of FSO's communities in the Chicagoland area – GreenFields of Geneva.
Lifespace welcomes this community into its current family of 17 communities, including two in the Chicagoland area. FSO will continue to provide management services through June 2023, at which time the community will fully transition onto Lifespace management, systems, and support.
Financial terms of the transaction are not being disclosed at this time.
Nestled on 26 beautifully landscaped acres bordering two championship golf courses, GreenFields includes walking paths, a fishing pond visited by mallard ducks and Sandhill cranes, and a 3.5-acre native prairie. More than 200 residents call the community home, served and cared for by 146 team members. The community offers a total of 257 independent living (apartments), assisted living, memory care, and skilled nursing residences. GreenFields opened its doors in 2012 and is conveniently located in charming Geneva, Illinois, on the west side of Chicago.
"We believe GreenFields of Geneva is a great fit for Lifespace as we share similar values and an ingrained commitment to service in delighting our residents," said Jesse Jantzen, Lifespace president and CEO. "The addition of GreenFields advances our ongoing strategic objective to engage in the rigorous and disciplined pursuit of growth opportunities to scale, build regional density, and diversify our core business."
The community offers a full continuum of care and has received many honors for their care, including a 5-star CMS rating.
"We are transitioning GreenFields to an organization with a long history of exceptional care and service for residents and team members alike. Lifespace has an established and robust platform that will support and grow the community over the long term. I'm excited for our residents and team members and we will partner with Lifespace to help support, recognize, and embrace the culture established at GreenFields and focus on enhancing quality, and enriching experiences for residents and team members," said Mike Flynn, CEO of Friendship Senior Options.
Lifespace Communities, Inc., based in Dallas and West Des Moines, Iowa, is a not-for-profit organization proudly serving older adults for more than 45 years. Founded in 1976, Lifespace Communities with this acquisition has grown to own and operate 18 continuing care retirement communities in seven states, serving more than 5,700 residents and employing more than 4,200 team members. For more information about Lifespace and its communities, visit LifespaceCommunities.com.
For more than 22 years, Friendship Senior Options is a non-profit, experienced operator of senior living communities with an emphasis on entrance fee campuses offering a full continuum of care in two communities in the Chicagoland area.
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SOURCE Lifespace Communities