Alexandria-based Goodwin House Inc., a non-profit organization built around senior living, has acquired the West End senior living community Hermitage Northern Virginia with plans to undergo an expansion in the coming years.
While the current operator of Hermitage will remain in place until August 1, after that the facility will become part of Goodwin House.
Rob Liebreich, President and CEO of Goodwin House, said the acquisition of one not-for-profit of another is unusual for fortuitous because Goodwin House plans to keep staffing and pricing at Hermitage intact.
“It’s unusual for two non-profits to have this interaction,” Liebreich said. “[Hermitage] could have been bought by a developer or sold to a for-profit, but as not for profit, we can keep those residents in mind.”
There are currently around 100 residents in Hermitage, but Liebreich said the plan is to increase that to around 135.
“Going to take a good amount of work, but it’s a good product already and we think we can elevate that in the market,” Liebreich said.
Liebreich said talk about the acquisition started around three years ago. For Hermitage, it will be a chance to take advantage of the deeper well of resources available from the larger Goodwin House organization, which operates facilities in Alexandria and Bailey’s Crossroads. Meanwhile, Liebreich said the acquisition also gives Goodwin House Inc. a chance to expand its mission into middle-income residents.
“We’ll be able to serve more older adults in ways we haven’t been able to,” Liebreich said. “[Hermitage] is at a price point lower than what we currently offer and they offer a different amenity package. We’re excited to learn that model.”
Liebreich said many seniors are stuck in a “middle market” where they don’t qualify for government assistance programs but can’t afford the expenses of many senior living facilities.
Current monthly rates at The Hermitage are:
- Assisted living rental rates range from $3,675 to $7,660
- Long term care rental rates range from $9,900 to $13,100
- Some residents pay additional fees for extra services.
Those rates represent an increase by the current operator, which will take effect in June, but Liebreich said there are no plans to increase the rates above that.
Liebreich said Goodwin House also plans to increase the pay structure for Hermitage staff to offer a “competitive living wage” and offer additional benefits, like an educational program.
The full press release is available below the jump:
Goodwin House Inc. (GHI), a not-for-profit regional senior living and health care services organization in the National Capital Region, today announced the acquisition of Hermitage Northern Virginia, a senior living community in Alexandria, Va. The community is home to 100 residents, employs more than 100 people and offers Independent Living, Assisted Living and Long-term Care.
“Goodwin House is grateful and excited to welcome the residents and team members of Hermitage Northern Virginia into our organization. Together, we will continue to grow our mission to support, honor and uplift the lives of older adults and those who care for them,” said Rob Liebreich, GHI president and CEO. “We are also grateful to Pinnacle Living for its 60 years of service to the older adults and team members who have resided and worked at Hermitage Northern Virginia.”
Both GHI and Pinnacle Living are faith-based, not-for-profit organizations. GHI owns and operates two life plan communities, Goodwin House Alexandria and Goodwin House Bailey’s Crossroads; offers Goodwin House at Home, a life care at home program to older adults who reside in Virginia and the District of Columbia; serves as the managing agent for The Lewinsville Retirement Residences, a Section 202 senior housing community in McLean, Va.; provides Medicare-certified health care services including as Home Health, Rehabilitation and Hospice across Northern Virginia; and extends innovative brain health programming to older adults throughout the United States. Pinnacle Living owns and operates four other senior living communities in Virginia.
“Hermitage Northern Virginia has been a valuable part of our business portfolio for 60 years,” said Christopher P. Henderson, Pinnacle Living president and CEO. “We are delighted to transition this beautiful community to Goodwin House, an organization that shares similar faith-based roots and a long-standing commitment to meeting the needs of seniors and those who choose to serve in our mission focused field. It brings tremendous comfort to know that our mission will continue in Goodwin House’s capable hands.”
The Hermitage Northern Virginia seven-acre campus is located in the west end of Alexandria. The campus includes several structures as well as a top-floor community room with expansive views of Washington, D.C. for private gatherings, a restaurant-style dining room, game room, library, fitness room and chapel. Additionally, the campus features walking paths, gardens and a greenhouse.
“Goodwin House looks forward to a working closely with Pinnacle Living to ensure a smooth transition experience for the residents and team members,” said Liebreich. “As we welcome the residents and staff of Hermitage Northern Virginia into the Goodwin House family, we are very appreciative of the opportunity to be an organization of choice for more older adults and an employer of choice for the people who serve them in the National Capital Region.”
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