LifeCare

What LifeCare does

LifeCare Development (formerly LifeCare Properties) is a Biloxi, Mississippi-headquartered real estate development company founded in 2018 by D. Brooks Holstein that develops upscale assisted living and memory care senior living communities in underserved Texas markets. The company builds under "The Blake" sub-brand in partnership with operator Blake Management Group, which has co-developed and continues to operate all projects, including New Braunfels (112 units, completed 2021), Waco (completed 2021), Tyler (115 units, completed 2024), and College Station (117 units, under construction, opening targeted 2028).

The business follows a build-and-sell model: LifeCare selects markets and sites, develops and stabilizes the asset (achieving licensure, ramp, and high occupancy), and then disposes of the stabilized community to institutional buyers — including Inspired Healthcare Capital and multiple publicly traded REITs. The company does not retain long-term ownership. Revenue is generated from property dispositions plus development fees and equity returns from joint ventures with Blake Management Group and equity partner ERG Enterprises, with Trustmark providing construction debt. Each ~100,000 sq ft community follows a standardized design template (Banko Design, Kimley-Horn, Connect Structural) supporting repeatable execution.

LifeCare is privately held, has no public revenue disclosure, uses Juniper Square for investor relations, and in 2025 rebranded from LifeCare Properties to LifeCare Development to signal organizational maturation. Leadership consists of two Managing Partners (Adam Mitchell and Daniel J. Payne), founder D. Brooks Holstein and Design Advisor Deborah Holstein, and a small administrative team, indicating a lean sponsor structure reliant on a tight network of development, capital, and operating partners.

Name

LifeCare

Legal name

LifeCare Properties

Website

https://lifecaredevelopment.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

LifeCare Development (formerly LifeCare Properties) is a Biloxi, Mississippi-based real estate developer founded in 2018 that builds upscale assisted living and memory care senior living communities under "The Blake" brand in underserved Texas markets and sells stabilized assets to institutional buyers.

Ownership category

akta.pro rank

Product category

Senior Living Real Estate Development

NAICS

Assisted Living Facilities for the Elderly (623312), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (6233)

SIC

Services-Nursing & Personal Care Facilities (8050)

akta.pro primary industry

Life Plan / Entrance-Fee CCRCs (HLADAEAA)

akta.pro secondary industry

Housing & Placement Coordination (Assisted Living, Memory Care, SNF) (HSABAIAL)

Keywords

• Senior living development
• Assisted living communities
• Memory care facilities
• Real estate development
• Institutional property sales

Headquarters

HQ city

Biloxi

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Property Development and Disposition: LifeCare develops senior living communities from market selection through construction and stabilization, then sells completed properties to institutional investors (REITs) for capital returns. This build-and-sell model generates proceeds from property disposition.
2. Development Fees and Equity Returns: The company earns returns through equity participation in joint ventures with Blake Management Group and strategic partners like ERG Enterprises, generating returns upon successful development and sale of properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

LifeCare Development is a senior living real estate developer that identifies underserved Texas markets, underwrites projects, and constructs upscale assisted living and memory care communities under The Blake brand. The company manages each project from concept through construction, stabilization, and ultimately disposition to institutional buyers such as publicly traded REITs. Blake Management Group operates the communities under a joint venture partnership, continuing as operator after LifeCare sells the stabilized property.

Product overview

LifeCare Development operates as a senior living development company specializing in upscale assisted living and memory care communities under The Blake brand. The company develops, stabilizes, and sells senior living properties, with each Blake community offering comprehensive amenities including gourmet dining, assisted living units, memory care units, salon, wellness center, chapel, and theatre. LifeCare works with operator Blake Management Group for property management and has partnered with ERG Enterprises for equity investment. The development model follows a pattern of market selection, construction, stabilization, and eventual disposition to institutional buyers.

Differentiator

Problem solved

Functional benefit

Brands

• The Blake: Senior living community brand operated through partnership with Blake Management Group. Communities include The Blake at College Station, The Blake at Tyler, The Blake at New Braunfels, and The Blake at Waco.

Products and services

• The Blake at College Station An upscale 117-unit assisted living and memory care community under construction in College Station, Texas, comprising 73 assisted living units and 44 memory care units across 100,576 square feet. Includes amenities such as gourmet dining, spacious suites, salon, wellness center, chapel, theatre, and outdoor courtyards. To be operated by Blake Management Group.
• The Blake at Tyler An upscale 115-unit (72 assisted living / 43 memory care) senior living community in Tyler, Texas, totaling 100,250 square feet. Amenities include salon, chapel, theatre, and on-site physical therapy clinic. Operated by Blake Management Group; sold to a publicly traded REIT in 2026. Recognized with the 2025 Silver Award (Contract Healthcare) from ASID Georgia Chapter.
• The Blake at New Braunfels An upscale 112-unit (71 assisted living / 41 memory care) senior living community located between San Antonio and Austin, Texas, across 100,482 square feet. Features air purification technology and received the Accushield 5-Star Safety Rating Seal and the 2023 Pinnacle Customer Experience Award. Completed in 2021 and sold to Inspired Healthcare Capital in 2024.
• The Blake at Waco An upscale assisted living and memory care community approximately midway between Austin and Dallas, Texas, reaching 100% occupancy in March 2024. Features include gourmet dining, spacious suites, salon, wellness center, chapel, and theatre. Recognized with the 2022 Bronze Award from the American Society of Interior Designers and the Accushield 5-Star Safety Rating Seal. Sold to a publicly traded REIT in October 2024.

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Blake Management GroupcoreStrategic or Co-development Partner · 1 January 2018Longstanding joint venture partnership formed in 2018 to develop The Blake senior living communities in Texas. Blake Management Group serves as operator for all communities, continuing to manage properties post-sale. The partnership was formalized further in 2026 as LifeCare and BMG formalized their next chapter of collaboration.
• Banko DesignminorStrategic or Co-development PartnerDesign partner responsible for interior design of The Blake communities. Won 2022 Bronze Award from ASID for The Blake at Waco and 2025 Silver Award for The Blake at Tyler.

Scale indicators3 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Life Care Services: Life Care Services (LCS) is a leading developer and operator of senior living communities, including CCRCs, assisted living, and memory care. LCS shares the senior living development/operator hybrid model with LifeCare and Blake Management Group, and is the most direct functional comparable.
• Sagora Senior Living: Sagora Senior Living is a privately held operator and developer of assisted living and memory care communities across the southern U.S. It shares LifeCare's upscale AL/MC focus and similar geographic concentration in Texas and the Southeast, making it a closely comparable business.
• Hammes Partners: Hammes Partners is a privately held healthcare real estate development firm with deep senior living and post-acute expertise. It shares LifeCare's developer-only business model (developing and selling to institutional buyers), making it a strong functional comparable for senior housing development.

Broad incumbents

• Welltower: Welltower is the largest publicly traded REIT focused on senior housing, including upscale assisted living and memory care. While it operates at much greater scale and is primarily an acquirer/operator (LifeCare's customer), it sets the institutional benchmark for the type of asset LifeCare develops and sells.
• Ventas: Ventas is a major publicly traded healthcare REIT with significant senior housing exposure, including assisted living and memory care portfolios. It is one of the institutional buyers that LifeCare's Blake at Waco and Tyler were sold to, and competes for the same institutional capital flows.
• National Health Investors: National Health Investors (NHI) is a healthcare REIT that invests in senior housing and skilled nursing, including assisted living portfolios. It is a potential acquirer of the type of stabilized AL/MC assets LifeCare develops, and is comparable as both a buyer-side peer and broader senior housing capital allocator.
• Brookdale Senior Living: Brookdale Senior Living is the largest U.S. operator of senior living communities, including assisted living and memory care. While primarily an operator rather than developer, it competes in the same resident demographic and markets, and its operational performance directly affects institutional buyer appetite for assets like LifeCare's.

Emerging players

• Sonida Senior Living: Sonida Senior Living (formerly Capital Senior Living) operates assisted living and memory care communities with a similar upscale positioning. While smaller and more operator-focused than developer-focused, it serves overlapping resident profiles and competes in similar secondary markets.

Regional players

• Inspired Healthcare Capital: Inspired Healthcare Capital is a private real estate capital provider focused on senior living and healthcare assets, and was the buyer of The Blake at New Braunfels. It competes for similar assets in LifeCare's secondary Texas markets and represents a viable exit channel beyond public REITs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LifeCareProperties

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LifeCare