BOSTON, MA (January 22, 2016) —Blue Moon Capital Partners LLC (“Blue Moon”) and LCS® announced today their formation of a joint venture for the development of a 207-unit independent living, assisted living and memory care community in Katy, Texas, to be known as The Delaney at Parkway Lakes. This marks the first joint venture between Blue Moon and LCS, and establishes a relationship for further growth together.
Headquartered in Boston, Massachusetts, Blue Moon focuses exclusively on the senior housing sector. Blue Moon’s team has a combined 40 years of experience in senior housing finance and operations. In December 2014 Blue Moon secured a $175 million capital commitment from Scout Fund II through Hawkeye Partners, LP out of Austin, TX to form BMSH I. Of this Katy investment, Blue Moon Co-founder and Managing Partner, Kathryn Sweeney, stated: “We are pleased to form this joint venture with LCS, whom we have known for more than 20 years. Ed Kenny and his seasoned team lead with integrity and have built a principle-centered culture that guides their day to day actions. We are proud to have partnered with such a skilled and accomplished team, excited to see our Katy community take shape over the next year, and look forward to growing our relationship.”
LCS, based in Des Moines, Iowa, is the largest privately held senior living operator in the country with roots dating back to 1971. The LCS suite of affiliates encompasses development, management, group purchasing, and home health. LCS is bringing its signature LifeSTYLE Promise&t approach to service-rich independent living, assisted living and specialized memory care to The Delaney at Parkway Lakes in response to consumer preferences for an amenity rich rental continuum. The Delaney at Parkway Lakes is LCS’s second Delaney branded property.
“LCS is pleased to have Blue Moon as its partner. We like their experience and similar to LCS, they focus exclusively on the senior housing sector. This provides great opportunity for growing our relationship with Kathryn and her team,” says Joel Nelson, president and COO for LCS. “It’s exciting to partner with Blue Moon on the portfolio of Delaney properties.”
Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides in-home care, insurance, and national purchasing consulting services. The companies of LCS serve thousands of residents across the nation. LCS is an equal opportunity employer hiring skilled and professional employees to better serve the customer. For more information, visit LCSnet.com
About Blue Moon Capital Partners
Headquartered in Boston, Massachusetts, Blue Moon Capital Partners focuses exclusively on the senior housing sector matching institutional investors with leading senior housing operating companies. Investment strategies span the risk spectrum from development/repositioning to stabilized, core investments. Blue Moon is led by senior housing specialist Kathryn Sweeney and institutional capital markets specialist Susan Barlow. For more information, visit Blue Moon Capital Partners’ website