{"id":2101,"date":"2008-07-01T19:19:24","date_gmt":"2008-07-01T19:19:24","guid":{"rendered":"http:\/\/blogs.covchurch.org\/newswire\/?p=2101"},"modified":"2010-12-22T12:23:56","modified_gmt":"2010-12-22T17:23:56","slug":"6410","status":"publish","type":"post","link":"http:\/\/blogs.covchurch.org\/newswire\/2008\/07\/01\/6410\/","title":{"rendered":"CRC Acquires Geneva (IL) Retirement Community"},"content":{"rendered":"

GENEVA, IL (July 1, 2008) \u2013 Covenant Retirement Communities (CRC) announced it has acquired Geneva Place, a 53-unit rental retirement community.
\n
\nCRC took full control and assumed operation of the four-story building May 30, after meeting individually with each of its 21 residents. Karen Larson, executive director of The Holmstad, CRC\u2019s continuing care retirement community in Batavia, Illinois, will oversee the community\u2019s administration.<\/p>\n

\u201cThe primary advantage CRC offers Geneva Place residents is the availability of future services such as home care, assisted living or skilled nursing,\u201d says Larson. Based on availability, Geneva Place residents will have priority access to assisted living, memory support and skilled nursing at Windsor Park Manor, a CRC continuing care community in Carol Stream, Illinois. CRC\u2019s Covenant Care at Home agency will provide home care.<\/p>\n

After it opened in 2004, Geneva Place struggled to meet the 50 percent occupancy required to secure permanent financing. The community contacted CRC President Rick Fisk. \u201cThey were keenly aware that we were the provider in the area that offered a full continuum of service,\u201d Fisk says. \u201cThe lack of future services was the root of the occupancy challenge. People don\u2019t want to move to a retirement community and have to move again if they get sick.\u201d<\/p>\n

The acquisition is a good fit for CRC. Less than three miles from The Holmstad, Geneva Place offers retirees an opportunity to join the community family without paying an entrance fee. \u201cBy supporting Geneva Place residents with future services at Windsor Park Manor, we can offer them a lower-cost way to access the quality services we provide,\u201d says Fisk.<\/p>\n

Although it did not offer future services, the original Geneva Place contract required an entrance fee. When purchasing the community, CRC\u2019s board of directors chose to secure the residents\u2019 investments. It will fund and repay entrance fees to 11 residents whose contracts included them.<\/p>\n

CRC purchased the property from Geneva Place LLC. Daniel D. Dolan, president of Dolan & Murphy Inc. in Aurora, Illinois, was the main investor in Geneva Place LLC.<\/p>\n

Operating 14 retirement communities in eight states, CRC is the nation\u2019s fifth largest not-for-profit senior housing provider. It administers its communities on behalf of the Board of Benevolence of the Evangelical Covenant Church. Visit the CRC website<\/a> for more information.<\/p>\n

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GENEVA, IL (July 1, 2008) \u2013 Covenant Retirement Communities (CRC) announced it has acquired Geneva Place, a 53-unit rental retirement community.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2101","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nCRC Acquires Geneva (IL) Retirement Community - Covenant Newswire Archives<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/blogs.covchurch.org\/newswire\/2008\/07\/01\/6410\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRC Acquires Geneva (IL) Retirement Community - Covenant Newswire Archives\" \/>\n<meta property=\"og:description\" content=\"GENEVA, IL (July 1, 2008) \u2013 Covenant Retirement Communities (CRC) announced it has acquired Geneva Place, a 53-unit rental retirement community.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/blogs.covchurch.org\/newswire\/2008\/07\/01\/6410\/\" \/>\n<meta property=\"og:site_name\" content=\"Covenant Newswire Archives\" \/>\n<meta property=\"article:published_time\" content=\"2008-07-01T19:19:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2010-12-22T17:23:56+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/#\\\/schema\\\/person\\\/2a26f1b1df304098ad9cbae0bbf2c6e8\"},\"headline\":\"CRC Acquires Geneva (IL) Retirement Community\",\"datePublished\":\"2008-07-01T19:19:24+00:00\",\"dateModified\":\"2010-12-22T17:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/\"},\"wordCount\":380,\"commentCount\":0,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/\",\"url\":\"http:\\\/\\\/blogs.covchurch.org\\\/newswire\\\/2008\\\/07\\\/01\\\/6410\\\/\",\"name\":\"CRC Acquires Geneva (IL) Retirement Community - 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