Raleigh-Based Navion Senior Solutions Grows Assisted-Living Management Portfolio in the Southeast
Partnership with private investment giant Blackstone allows company to triple size
Navion Senior Solutions recently assumed operations of ten senior housing communities through a partnership with private investment firm Blackstone. The agreement triples the number of senior living facilities Navion develops, manages, and advises, growing the company’s portfolio from four senior housing communities to 14.
“Through our partnership with Blackstone, we will expand Navion’s commitment to providing independent living, assisted living, memory care, and short-stay programs across the southeast,” said Steven Morton, Navion’s founder, president, and CEO. “We are thrilled to partner with Blackstone to serve the residents, families, and staff of the new communities in the Navion family. We view the opportunity to provide for seniors as a sacred trust and are excited to grow our family with this new acquisition.”
Navion currently operates two senior housing communities in the Raleigh-Durham area: Carolina Reserve and Bartlett Reserve. Construction of the Reserve at Mills Farm is due for completion next year. The $40 million, 152-unit facility will be located in Apex and will provide independent and assisted living, as well as memory care.
Bringing Senior Living Experience to More Facilities
Navion will bring to its new facilities nearly 100 years of combined senior living experience that uses the latest technology to improve operational efficiencies and resident care.
“Improving senior living is what we do,” said Morton. “At each property we manage and develop, we bring our extensive experience in residential management to provide for residents at the level of care they need.”
Navion’s senior living services include technology-based market research, strategic counsel, facility development, and construction and operation for senior housing communities.