Headwaters Group officially launches in middle-market active adult rental space
Denver-based Headwaters Group formally announced its launch Wednesday to serve middle-market active adults.
“Active adult is an underserved area that has strong demographics,” Managing Partner Ben Burke told the McKnight’s Business Daily.
The company will focus on for-rent communities for adults aged 55 and older in the western half of the United States initially, with plans to expand nationwide down the line, Senior Vice President of Operations and Finance Chris Ducay said.
“The company has a robust pipeline that has four active builds currently,” he added.
The four projects — three in the Denver area and one in Scottsdale, AZ — are expected to break ground in the latter half of this year. Additionally, the Headwaters Group expects to close on the acquisition of an existing community in Salt Lake City, “within the next week or two,” according to Ducay.
“We’re kind of focusing on our backyard,” he added.
Headwaters Group is fully capitalized with an unnamed joint partner, “so we’re ready to deploy capital at a moment’s notice for the right investment opportunities,” Ducay said. “We are focused only on this active adult market.”