A new joint venture between Clearwater Senior Living and Berkshire Group has announced its plans to develop and acquire senior housing properties on the west coast of the U.S. The initial equity commitment of the partnership is expected to generate more than $500 million in gross asset value. The goal of the partnership is to own, operate and develop a full range of senior housing communities which will include independent living, assisted living and memory care facilities. “The venture with Berkshire represents a long-term strategic alliance for Clearwater Senior Living to continue our team’s passion to own, develop and operate innovative senior housing communities,” said Tony Ferrero, CEO of CSL, in prepared remarks. “Berkshire exemplifies the same principles, values and drive for excellence that we share at CSL. It is through this shared foundation that we strive to create distinctive environments that enhance the lives of our associates, our residents and their families.”
