MIAMI – Lloyd Jones, a real estate investment firm headquartered in Miami, Florida, has announced the acquisition of Rittenhouse Village at Valparaiso, a 90-unit assisted living and memory care community in Valparaiso, Indiana. Positioned in the northwest region of Indiana and about ten miles south of Lake Michigan, the city of Valparaiso has become an attractive living destination, with a short commute to the Chicago area. The property will operate under the company’s propriety senior-living Aviva brand as AVIVA Valparaiso.
This marks Lloyd Jones’ sixth acquisition this year, and first in the state of Indiana. In June alone, the firm added a nationally recognized historical property and an active adult-community to its senior housing portfolio: AVIVA West Hartford in West Hartford, Connecticut, and AVIVA Fort Worth in Fort Worth, Texas.
Built in 2007 and renovated in 2019, AVIVA Valparaiso is a two-story community that stretches over 70,700 square feet. The building features a porte cochere entrance with a grand lobby and vast open lounges. The first floor includes two dining rooms, a cafe, activity center, gardening area, and two separate wings consisting of 66 assisted-living units and 24 memory-care units. The second floor of the community offers additional communal areas for the residents and a beauty salon and barbershop.
“We are excited to expand our footprint in the Midwest and in a state with a large, growing senior population where over 40% of the total population will be over 65 by 2030,” says Tod Petty, Vice Chairman of Lloyd Jones Senior Living. “Our operational expertise will create a life-enriching environment to meet the needs of this aging demographic.”
Lloyd Jones plans to invest over $1M into the property to execute a capital renovation strategy that includes new lighting, plank vinyl flooring, and updated plumbing fixtures in units. The firm will also introduce its signature technology package to enhance the comfort and security of its residents.
This investment partnership will be open to individual accredited investors through a soon-to-be-launched investment platform. Details on the launch will be available September 1st, 2022 on www.ljasl.wpengine.com