Rood Investments of Vancouver has named Milestone Retirement Communities to manage its portfolio of 10 senior housing communities in Washington, Oregon and California, Milestone said in a news release. The communities consist of 1,433 units and beds of independent living, assisted living and memory care apartments.
In addition, Rood Investments will begin construction this month on an assisted living and memory care community with 116 units in Orangevale, Calif., that will also be managed by Milestone. Rood will continue to own all of the communities and said it will remain actively involved in their overall management direction.
Milestone, founded in 2008 and also based in Vancouver, currently manages 27 communities with 2,704 units or beds. Those communities are in nine states, primarily in the Pacific and Mountain time zones. The company has an interest in the real estate or operating leases of 14 of those communities.
