Watercrest Senior Living Group of Vero Beach,FL,and Index International AB,headquartered in Stockholm,Sweden,announce the finalization of their$500 million partnership in the co-development of senior living communities in the United States.
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."
Co-founder of Index International AB,Bjarne Borg explains,"When Index decided to invest in senior housing,we met with numerous operators and Watercrest stood above the rest.Their operating culture resonated with us,as did the depth of their relationships with bankers,architects,and other key professionals.We are thrilled to be co-developing$100 million yearly in senior housing projects with Watercrest."
