Senior living firm plots further expansion

BRADENTON — Tampa-based developer Validus Senior Living has acquired two memory care communities in the region, one in St. Petersburg and one in Bradenton.

Validus, according to a release, purchased Ivy Ridge Living in St. Petersburg, with 58 beds, and Hidden Lakes Living in Bradenton, with 78 beds. The firm, an affiliate of the Validus Group, a real estate investment management firm, bought the properties from local senior housing developer Mark Bouldin. Terms of the deal weren't disclosed.

The acquisitions are part of an ambitious growth strategy at Validus. “We are excited to complete this transaction with Mark,” Validus Senior Living CEO Steven Benjamin says in the release. “It allows Validus Senior Living to stay consistent with our growth plan, while acquiring quality real estate that is well in our position to meet the needs of today's seniors with related memory care challenges.”

Adds Benjamin: “This agreement is part of our strategic growth plan to expand our memory care assisted-living offerings throughout the Southeast and beyond.”

Ivy Ridge Living and Hidden Lakes Living, the release states, offer Alzheimer's and dementia care through state-of-the-art technology. That includes fall motion sensors in the residents' suites and keyless door locks.