Juniper Communities, a leading owner/operator of senior living communities, has entered into a strategic partnership with National Health Investors, Inc., a premier real estate investment trust specializing in sale – leaseback, joint – venture, mortgage and mezzanine financing, on a property in Paramus, NJ.
Juniper Communities, a leading owner/operator of senior living communities, has entered into a strategic partnership with National Health Investors, Inc. , a premier real estate investment trust specializing in sale – leaseback, joint – venture, mortgage and mezzanine financing, on a property in Paramus, NJ. As part of the property acquisition by NHI, it was determined Juniper Communities would continue as the long-term operator.
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The property, Juniper Village at Paramus, is a 120-unit assisted living community situated in an upscale area of Bergen County, NJ, just outside New York City. The community features 98 traditional assisted living residences and a 22-unit memory care wing, providing high-quality care and support to the residents.
Juniper Communities assumed management of the struggling property in February 2021, amid the challenges of the COVID-19 pandemic, when its financial performance was significantly underwhelming. Leveraging its expertise in revitalizing underperforming communities through innovative programming and a strong company culture, Juniper Village at Paramus achieved a dramatic financial turnaround by 2023.
This turnaround in financial results prompted the property owner to list the building for sale in 2024. Through a competitive bidding process managed by a broker, multiple firms submitted bids with National Health Investors, Inc. emerging as the successful buyer.
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In the purchase, NHI determined that the most financially beneficial course for the senior living community would be to maintain a partnership with Juniper Communities. Under a traditional sale-leaseback structure, Juniper remains as the long-term manager, ensuring stability, quality care, and operational excellence.
“We are thrilled to continue our long-term commitment to Juniper Village at Paramus and partner with NHI,” said Lynne S. Katzmann, CEO and Founder of Juniper Communities. “This agreement underscores the strength of our operating model and our ability to deliver exceptional senior care while achieving financial success.”
Juniper Communities operates 28 senior living communities across five states—New Jersey, Pennsylvania, Delaware, Texas, and Colorado. Known for its “double bottom line” philosophy, the company remains committed to doing well by doing good, driving both social impact and financial performance.
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Source – PR Web
