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Press Release

Promerita Group invests in Zest Communities

Promerita Group invests in Zest Communities to help accelerate its development plans and to meet growing demand for independent, seniors' living in the Greater Toronto Hamilton Area, Canada

Apr. 25, 2019 / PRZen / VANCOUVER, British Columbia -- As part of its national investment initiative in the seniors housing and care sector, Promerita Group is pleased to announce a strategic investment that was finalized at the end of the 4thquarter in 2018 with Zest Communities Inc. Zest Communities is an award-winning leader in the 55+ independent lifestyle communities and assisted living sector.  Its flagship property, the Village at St. Elizabeth Mills, is located in Hamilton, Ontario.

The Village at St. Elizabeth Mills is an exceptional success story and an extraordinary testament to its original founder and visionary, Sister Elisabeth Manhertz, who made it her life's mission to care for seniors. It is situated on 114 acres of park-like grounds and is a vibrant community to over 800 adults living in over 500 garden homes. Residents enjoy an independent lifestyle, with the security that comes with a reliable continuum of care and preferred access to the 100-suite retirement residence in the community.

The Village presents a unique model for baby boomers and seniors living, centred around a community hub where residents can enjoy an active, social and engaged lifestyle. Garden home residents enjoy all the benefits of an independent lifestyle within a social community that has over 200 clubs and activities. For seniors with more advanced care needs, the St. Elizabeth Retirement Residence offers assisted-living services and the peace of mind of being able to age in place.

Promerita's investment will allow Zest Communities to accelerate its strategic vision of constructing a village square with a variety of retail and commercial amenities that will add to the vibrancy and culture of village life, doubling the size of the retirement residence and developing more than 1500 homes over the next decade.

"Our entire team, including Rizwan Gehlen, Robert Napoli, Adrian Chan, Victor de Bonis, David Schincariol and Farid Rohani are humbled and delighted to be making this significant investment with Tony DiFruscio and Robert Baiocco from Zest Communities. Under Tony and Rob's ongoing leadership, and with the support of our team, we are confident that the Village at St. Elizabeth Mills will continue to thrive as the preferred place for boomers and seniors in the GTHA to live their lives in community with their loved ones and closest friends. Our relationship with Zest Communities presents a unique opportunity for us to do what we strive for: doing well, doing good and helping people.

We have a keen interest in this sector as we believe it presents an exceptional opportunity to contribute to Canadian communities. Furthermore, given the compelling underlying demographic demand that is uncorrelated to typical market and interest rate risk, the sector offers investors one of the best risk-adjusted return opportunities for capital.  We are in active conversations with a number of different parties in this sector across Canada who share our vision and values about opportunities to enhance the lives and wellbeing of Canadian seniors through additional investment," says Ernest Lang, CEO of Promerita Group.

About Promerita Group:

Promerita connects people, capital and opportunities by investing in real estate and private equity in operating businesses across various industry sectors. Promerita co-invests with high net worth, family office and institutional investors and brings deep expertise in acquisitions, financing, operations and strategic wealth planning for entrepreneurs and business families.  Through our business, we strive to do well, do good and make a difference.

You can learn more about us at www.promerita.com and please feel free to contact us for development, partnership or investment opportunities at: contact@promerita.com.

Follow the full story here: https://przen.com/pr/33295429

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