AEW SELECTS HORIZON BAY TO MANAGE CONTINUING CARE RETIREMENT COMMUNITY PROPERTIES With entry into CCRC market, Horizon Bay grows to 77 retirement communities.
TAMPA, Fla., December 10, 2008– Horizon Bay Retirement Living (Horizon Bay), a national seniors housing operator based in Tampa, Florida, announced that it has started managing three continuing care retirement communities (CCRC) in Florida. Regency Oaks in Clearwater, Lake Port Square in Leesburg, and South Port Square in Port Charlotte, have a total of 1,694 residential units for seniors.
Horizon Bay was selected by AEW Capital Management L.P. (AEW), on behalf of one of AEW’s institutional clients, to become the new manager of the communities. “We selected Horizon Bay because of their excellent reputation and stellar track record in the retirement living market and depth of knowledge of the Florida seniors market,” said Pamela Herbst, Managing Director and Head of Direct Investments at AEW. “We anticipate a successful partnership with Horizon Bay.”