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Now browsing: Hometown News > Business & Finance > Indian River County

Senior Living Group announces co-development partnership
Rating: 4.53 / 5 (47 votes)  
Posted: 2014 Feb 14 - 06:41

For Hometown News

VERO BEACH -- Watercrest Senior Living Group of Vero Beach and Index International AB, headquartered in Sweden, announce the finalization of their $500 million partnership in the co-development of senior living communities in the U.S.

Watercrest Senior Living Group specializes in senior living operations and development, market repositioning and advisory services with an emphasis on servant leadership and the development of value-centered leaders.

When Watercrest principals, Marc Vorkapich, CEO, and Joan Williams, CFO, met with Index co-founder, Bjarne Borg, the group bonded immediately based on their commitment to core values. Much like Vorkapich and Williams, the founders of Index, Fredrik Alama and Bjarne Borg, believe in the value creation business and maintain that core values are the root of their success.

"Partnering with Index enables us to swiftly respond to the incredible demand for assisted living and memory care with new and innovative communities," says Vorkapich, principal and CEO of Watercrest Senior Living Group. "We are thereby raising the bar of quality nationally by serving more seniors and providing exponentially greater opportunities for our current and future associates."

Established in 1998, Index International AB is a global independent investment company in real estate and equity investments. Built on private capital without institutional funding, Index maintains investments in Sweden and North America, and is actively expanding further into North America and Europe.

"Our partnership with Index brings together the financial, development and operational resources to achieve explosive growth and create a significant footprint for Watercrest in the senior housing industry," says Joan Williams, principal and CFO of Watercrest. "Our combined financial commitment puts us on pace to bring six communities online per year."

Watercrest Senior Living Group specializes in the development and operations of assisted living and memory care communities, market repositioning and advisory services. Partnering with a wide variety of stakeholders such as land owners, real estate developers, investors, financial institutions, and REITs, Watercrest Senior Living Group focuses on its core strengths, operations management of assisted living and memory care communities and the development of servant leaders.

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