New York Real Estate Journal – Year in Review

2021-12-29T21:57:35+00:00

2021 Year in Review: Richard Foster, Cedar Communities December 28, 2021 - Spotlights Richard Foster Chief Executive Officer Cedar Communities What are your predictions for your industry in 2022? I believe senior housing as an asset class will continue to see increased occupancy numbers. Additionally, I believe interest rates will start to rise in 2022, which will reduce some of the cap rate compression that has existed in the industry, creating more buying opportunities for growing firms and increased transaction activity. I also believe the overall rise in interest rates coupled with changes in more national fiscal plans will result in an [...]

New York Real Estate Journal – Year in Review2021-12-29T21:57:35+00:00

2021 Ones to Watch: Richard Foster, Cedar Communities

2021-12-08T03:55:28+00:00

Name: Richard Foster Title: CEO Company Name: Cedar Communities What recent project, transaction or accomplishment are you most proud of? We recently completed a refinance of an asset that was appraised for roughly two times what we purchased it for just two years ago. Despite COVID, our leadership team has been steadfast at growing occupancy in this community which contributed to its successful and substantial market cap increase and refinance. Any financing during COVID is challenging but financing a healthcare facility during COVID presented its own unique set of variables that we successfully overcame. I’m incredibly proud of the entire Cedar [...]

2021 Ones to Watch: Richard Foster, Cedar Communities2021-12-08T03:55:28+00:00

Cedar Communities Acquires Mulberry Grove Senior Living in Statham, Georgia.

2021-03-20T02:55:47+00:00

Cedar Communities Acquires Mulberry Grove Senior Living in Statham, Georgia. Mulberry Grove makes Cedar's 8th Long Term Care Facility acquisition and 7th asset their current portfolio. Boutique long term care facility owner-operator Cedar Communities is proud to announce the acquisition of Mulberry Grove Senior Living. This 42-unit facility brings Cedar's total unit count to 250.  Cedar has carved out a niche within the senior living space building a portfolio of boutique, bed and breakfast style facilities that are corner stones within their local communities. Richard J. Foster, Cedar Communities CEO says, "We are thrilled with our latest acquisition. This new facility [...]

Cedar Communities Acquires Mulberry Grove Senior Living in Statham, Georgia.2021-03-20T02:55:47+00:00

Cedar Communities Announces Portfolio-wide Facility Vaccination Program

2021-02-16T04:23:53+00:00

Cedar Communities Announces Portfolio-wide Facility Vaccination Program All Six Cedar Facilities Receive Vaccination to Prevent COVID-19 (Jericho – New York) Cedar Communities is proud to announce that the following long term care facilities have received the COVID-19 vaccine: Bountiful Hills Senior Living in Commerce Georgia, Birch Gardens Assisted Living in Staunton, Virginia, Tranquility of Cartersville in Cartersville Georgia, Birch Ridge Assisted Living in Staunton Virginia, Brookside Commerce in Commerce Georgia and Brookside Stone Mountain in Stone Mountain Georgia. These facilities received the vaccine from pharmacies including Omnicare CVS Health, Lacey Drug Company, Managed Health Solutions and Homer Drugs. Cedar Communities Chief [...]

Cedar Communities Announces Portfolio-wide Facility Vaccination Program2021-02-16T04:23:53+00:00

Read our CEO Richard Foster’s interview in the New York Real Estate Journal (NYREJ)

2021-01-06T04:42:20+00:00

Richard Foster, Cedar Communities Name: Richard Foster Title: Chief Executive Officer Company Name: Cedar Communities What was the most challenging part of working during the pandemic? Our greatest challenge was completely changing the way we market our facilities without the ability to do in-person tours or market locally with boots on the ground. We tackled this challenge head-on; ramping up digital marketing efforts from the outset of the pandemic and transitioning to facetime/zoom tours with all prospective residents. Prior to COVID-19 being declared a pandemic, we proactively sent laptops to each of our buildings, easily allowing our residents to keep in [...]

Read our CEO Richard Foster’s interview in the New York Real Estate Journal (NYREJ)2021-01-06T04:42:20+00:00

Cedar Communities Announces Cartersville, Georgia Acquisition

2020-12-16T15:51:52+00:00

Cedar Communities Announces Cartersville, Georgia Acquisition Cedar Communities is proud to announce their latest acquisition, "Tranquility of Cartersville". The facility, located in Cartersville, Georgia, is exceptionally renovated with a glowing local community reputation. The building has 25 units with 32 beds consisting of both personal care and memory care. Rich Foster, Cedar Communities CEO says, "This acquisition fits into our strategy of acquiring boutique sized facilities across the Southern part of the United States. This property is a welcomed addition to our portfolio". Cedar Communities seeks to acquire small to mid-sized assisted living facilities throughout the Southern part of the United [...]

Cedar Communities Announces Cartersville, Georgia Acquisition2020-12-16T15:51:52+00:00

Rich Foster, Cedar Managing Director, Featured in New York Real Estate Journal

2020-07-09T11:38:09+00:00

2019 Year in Review: Richard Foster, Cedar Communities Name: Richard Foster Company: Cedar Communities What was your greatest professional accomplishment in 2019? Cedar positioned itself as the leader in boutique senior housing acquisitions by growing 6X year over year, largely due to the ability to successfully close five assisted living acquisitions in 84 days. With a 100% closing rate and over 200 employees our growth as a firm is without question my greatest professional accomplishment of 2019. What was your most notable project, deal, or transaction in 2019? The acquisition of the Brookside portfolio in Georgia, completed with the [...]

Rich Foster, Cedar Managing Director, Featured in New York Real Estate Journal2020-07-09T11:38:09+00:00

New Owner/Operator Cedar Communities Ramps Up Dealmaking, Aims to Double Size in 2020

2020-07-09T11:42:18+00:00

By Tim Mullaney | November 19, 2019 Cedar Communities, a recently formed senior living private equity firm and operating company, has been busy. Since July, Cedar has acquired five communities, providing momentum for further growth in 2020. Cedar was founded a little over two years ago and is building a portfolio of “boutique-sized” facilities in the U.S. Southeast, co-founder and Managing Director Richard Foster told Senior Housing News. Last week, the firm announced its most recent acquisitions, of Brookside of Stone Mountain and Brookside of Commerce. Both communities are located in Georgia and together have 82 assisted living units and 12 independent living units. The [...]

New Owner/Operator Cedar Communities Ramps Up Dealmaking, Aims to Double Size in 20202020-07-09T11:42:18+00:00

Cedar Communities Acquires 82 Assisted Living Units in Georgia

2020-07-09T11:43:00+00:00

Cedar Communities Acquires 82 Assisted Living Units in Georgia Cedar Communities is proud to announce the acquisition of 82 assisted living units and 12 independent living units in Commerce, Georgia and Stone Mountain, Georgia. The two facilities: Brookside Commerce and Brookside Stone Mountain become the fifth and sixth properties within Cedar's growing Assisted Living Portfolio. Cedar has 220 units / 265  beds under ownership which includes: 31 units in Santee South Carolina (Magnolias of Santee), 34 units in Commerce Georgia (Bountiful Hills), 55 units in Staunton Virginia (Birch Gardens and Royal Care at Birch Ridge) and these 94 units. [...]

Cedar Communities Acquires 82 Assisted Living Units in Georgia2020-07-09T11:43:00+00:00
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