Opportunity:
Sagewood is a joint-venture of The Westminster Funds and Life Care Services LLC (LCS) of Des Moines, IA, the largest private owner/operator of CCRC's in the U.S. LCS is recognized as the leader in retirement planning, development and management, having completed more than 100 projects in its 28-year history without a single project failure. The typically stable, growing cash flows of CCRC's align with the quality risk-adjusted returns sought by The Westminster Funds.

The site was acquired May 2005 for the development of a continuing care retirement community to be built in 5+ phases on Mayo Boulevard in northeast Phoenix. In January 2010, Sagewood opened its doors for resident move-ins. The health center and individual villa units are under construction for completion Fall 2010. The typically stable, growing cash flows of CCRC's align with the quality risk-adjusted returns sought by The Westminster Funds. To minimize risk, CCRC project construction is not begun until each phase of the community is 65+% leased.

View a detailed map of this property (MapQuest). Property: Continuing Care Retirement Community Size: 950 Independent Living Units on 78 Acres built in 5+ phases Built: Phase I - January 2010 Start Date: Pre-development Marketing begun Fall 2005 Click the images below for an enlarged view: Ownership: Westminster-LCS IV LLC, Owned in joint-venture with Life Care Services, 85% Westminster Funds VI (15%), CCRC Fund I (52.5%), & CCRC Fund II (32.5%) and 15% Life Care Services Equity Capital: $90,411,000     ← Return to previous section     By using this website, you acknowledge that you have read the terms and conditions, and will be bound by the terms hereof. Copyright ©2010 The Westminster Funds ®. All rights reserved.