Watercrest Senior Living Group and Harbert Seniors Housing Fund II Announce the Groundbreaking of Watercrest Richmond Assisted Living and Memory Care

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Jan 13, 2021, 09:17 ET

VERO BEACH, Fla., Jan. 13, 2021 /PRNewswire/ -- Watercrest Senior Living Group and joint venture partner, Harbert Seniors Housing Fund II, are pleased to announce the groundbreaking of Watercrest Richmond Assisted Living and Memory Care in Richmond, Virginia. The 98-unit luxury senior living community, financed by Trustmark Bank and under construction by EMJ Corporation, is scheduled to welcome residents in Summer 2022.

Watercrest Senior Living Group and Harbert Seniors Housing Fund II celebrate the groundbreaking of Watercrest Richmond Assisted Living and Memory Care in Richmond, Virginia.

Watercrest Richmond will be a signature Watercrest product, offering 76 assisted living and 22 memory care apartments with resort-style service and world-class care. The architecture and design will boast a stunning promenade, fireplace, signature water wall, multiple dining options, theater, salon and spa, Bogey's Scotch & Cigar Lounge, as well as grand balconies, and Southern-style outdoor living spaces.

"We are thrilled to announce Watercrest's expansion into Virginia and thankful for our outstanding partnership with Harbert in the development of Watercrest Richmond," says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. "We celebrate this partnership and the opportunity to establish an exceptional Watercrest product in the distinctive community of Richmond."

Ideally located at 5500 Woolridge Road, Watercrest Richmond offers the best of big-city amenities with the delights of Southern charm. Known as a top destination by Travel + Leisure, Richmond offers plentiful dining, entertainment and cultural venues, just minutes from the rolling hills of Virginia farms, gorgeous state parks, and charming wineries. For information about the community, contact Watercrest at 772-539-4560.

With multiple senior living projects in development throughout the southeast, Watercrest principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities. This is the first senior living development project partnered between Watercrest and Harbert's seniors housing investment team.

"Harbert identified Watercrest Senior Living as a best-in-class senior living developer and operator with a commonly aligned vision to develop exemplary senior living communities for our stakeholders," says Brian Landrum, Senior Managing Director of Harbert Management Corporation. "We look forward to the successful development of Watercrest Richmond and our future partnerships with the Watercrest team."

About Harbert Management Corporation
HMC is an investment management firm focusing on alternative assets, with approximately $7.5 billion in Regulatory Assets under Management as of November 30, 2020. A privately owned firm founded in 1993, HMC serves foundations, endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. For additional information about HMC, visit www.harbert.net.

About Watercrest Senior Living Group
Watercrest Senior Living Group was founded to honor our mothers and fathers, aspiring to become a beacon for quality in senior living by surpassing standards of care, service and associate training. A certified Great Place to Work, Watercrest specializes in the development and operations of assisted living and memory care communities and the growth of servant leaders. Visit www.watercrestseniorliving.com.

SOURCE Watercrest Senior Living Group