Ryan Companies Expands Clarendale Senior Living Brand to Schererville, Ind.

The Great Lakes Region of Ryan Companies US, Inc. (Ryan) has begun the construction of Clarendale of Schererville, a $40 million, 177-unit senior living development, further expanding the reach of the Clarendale brand first established two years ago. Clarendale of Schererville is the third senior living community in the partnership between Ryan and Life Care Services, An LCS® Company (LCS), and equity partner Harrison Street Real Estate Capital (Harrison).

Clarendale of Schererville will open in the spring of 2017 and offer three hospitality-based lifestyle neighborhoods – independent living, assisted living and memory care – all under one roof.

“We view Northwest Indiana and the Schererville area as an attractive place to live, and one that is underserved by quality senior living communities,” said David Erickson, Director of Development, Ryan Companies US, Inc. “After recently opening Clarendale of Mokena, and with Clarendale of Algonquin well underway, we are excited to expand our Clarendale brand into Northwest Indiana.”

Clarendale of Schererville is being constructed on an approximately 9.0-acre site at the northwest corner of U.S. Route 30/Lincoln Highway and Burr Street, about five miles west of Interstate 65. This location is convenient to desired community amenities and services—from medical facilities to retail centers, among others—that are important to maintaining a level of connectedness that residents seek.

The three-story Clarendale of Schererville will feature 85 independent living residences, 38 assisted living residences and 54 memory care residences. Following the general footprint that has been established in Mokena, Ill., and Algonquin, Ill., apartments at the Schererville community will range from approximately 720 square feet to 1,300 square feet for independent living, and from 300 square feet to 890 square feet for assisted living and memory care. The entire development will consist of approximately 206,000 square feet.

The Clarendale brand is based on the premise that seniors are looking for comfortable living, an extensive array of amenities and conveniences, and opportunities to be connected and secure in familiar territory. The Clarendale brand offers seniors convenience, camaraderie, security and connectedness with hospitality-based service.

“An important evolution in the design and development of senior living communities, and one that
Ryan and Life Care Services fully embrace, is creating a hospitality-based senior living community that offers service-rich independent living, assisted living and memory care,” said Peter Muhlbach, Senior Vice President/Director of Operations Management, Life Care Services. “Some of the new amenities that we incorporated into Clarendale of Algonquin are included here and will ensure opportunities for social connectedness that are so important to residents’ well-being.”

Those new amenities will be a movie theater room for regular movie nights, and a crafts room. Those features join an already abundant list of social amenities that includes a bistro, a pub and billiards room, a club room and library, living rooms with fireplaces, a vaulted multipurpose room, a wellness center with a full service salon, a fitness room and a private patio and courtyard.

The union of Clarendale’s lifestyle choices in a community setting assures the advantages and engagement of independent living, while knowing as needs change, the personal and specialized services of assisted living and memory care will be available in the same location. Maintenance-free living with well-appointed common areas to promote socialization and recreation will offer Clarendale of Schererville residents life-enriching opportunities.

Housekeeping, maintenance and transportation as well as restaurant-style and private dining with chef’s specialties are among the convenient services to be offered. Covered and surface parking for 152 automobiles will also be available.

The community will be managed by Life Care Services, An LCS Company of Des Moines, Iowa. The Midwest-based senior living expert has brought uniquely customized senior living lifestyles to over 35,000 residents across the United States in over 125 communities. Founded in 1971, Life Care Services is the third largest manager of senior living properties in the country.
The project’s architect is PFB Architects of Chicago, Illinois.

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About Ryan Companies US, Inc.
Ryan Companies US, Inc. is a 3rd generation, family-owned national developer, designer, capital investment consultant, builder and real estate manager specializing in fully integrated solutions for over 75 years. Key market sectors include: retailers, industrial, healthcare, senior living, and corporate build-to-suit; and product experience includes work on office, retail, mixed use, hospitality, multi-housing, industrial, medical office building, senior living, distribution center, public sector, and mission critical facilities. Ryan serves customers throughout the United States with offices in the North, Midwest, Great Lakes, SouthEast, SouthCentral, SouthWest and West regions. Ryan was named the 2007 National Developer of the Year by NAIOP, the Commercial Real Estate Development Association. For more information, visit www.ryancompanies.com.

About Life Care Services™
Life Care Services, An LCS Company, established in 1971 and based in Des Moines, Iowa, is the nation’s leading manager of full-service senior living communities. Life Care Services currently provides operations management, and marketing and sales management for not-for-profit and for-profit continuing care retirement communities (CCRCs), stand-alone assisted living, memory care, and rental communities nationwide. For more information, visit www.lifecareservicesLCS.com.

About Harrison Street Real Estate Capital LLC
Harrison Street Real Estate Capital LLC (“Harrison Street”) is one of the leading real estate investment management firms that offers innovative investment products across both private and public real estate segments. The firm has created a series of differentiated investment products across multiple risk/return platforms. Our 70+ person team is headquartered in Chicago, Illinois. Currently the firm and its affiliates manage approximately $7.7 billion in assets on behalf of some of the world’s largest institutional investors.