United Properties to triple portfolio of senior residences with launch of its new Amira brand

Amira will unite three types of senior living communities under one brand

 

 

MINNEAPOLIS (Dec. 13, 2021) — United Properties announced today that it will triple the number of senior living communities that it owns and develops over the next three years — averaging about six groundbreakings per year — and unite its three types of senior living developments under the umbrella of one brand: Amira.

“The name Amira represents what we offer: flourishing communities for a new generation of seniors where we promise continued life enrichment with a sense of community and meaningful experiences,” said Matt Van Slooten, co-president and chief investment officer for United Properties Investment, who is leading the rebranding initiative. “Amira delivers a lifestyle that seniors — especially baby boomers — are looking for; namely, caring relationships and activities with people at similar stages of life, sharing similar interests and experiencing life together.”

The following three types of senior living communities will fall under Amira:

  • Amira – 55-plus independent living rental communities (formerly known as ThePOINTE)
  • Amira Choice – 62-plus integrated independent living, assisted living and memory care communities (formerly known as Cherrywood Pointe)
  • Applewood Pointe – For-purchase cooperative communities owned by seniors

The company currently has 13 for-rent senior living developments in its Amira offerings. Seven of these properties are already open and 96% occupied. Three others were recently completed and are available to lease, and three more are currently under construction. In addition to these locations, the company has an active pipeline of sites that will break ground in 2022. This expansion will increase the number of housing units from 1,100 open today to 3,800 over the next few years — and not just in Minnesota, but in Colorado, Texas and Florida as well.

United Properties’ growth is in response to demographic trends that project that the number of people in the U.S. over 75 is expected to nearly double over the next two decades — from 23 million in 2020 to 45 million in 2040.

Amira senior living developments are well-positioned to meet demographic demands, building on United Properties’ 17 years of experience with senior living developments in 30 locations, including 20 Applewood Pointe co-op communities, Van Slooten noted.

Amira residents will notice a new name, logo, website designs, signs, and employee uniforms, but the company’s commitment to best-in-class levels of service, care and quality of life for communities will remain the same.

In Minnesota, construction recently began on Amira Minnetonka, its newest 55-plus active adult rental community, located on five acres at 801 Carlson Parkway in Minnetonka. Amira Minnetonka will have six floors and 186 units. 19 units will be designated as affordable to meet the needs of the community. The active adult community will also feature a variety of lifestyle amenities, such as a state-of-the-art golf simulator, an outdoor pool and hot tub, pickleball court, community gardens, art and fitness studios, an expansive community room and a sky lounge. Occupancy is planned for 2023.

Van Slooten summed it up this way: “The name ‘Amira’ reflects the growth and evolution of our senior living developments — communities that prioritize a sense of place, a commitment to community, personalized services and meaningful experiences — as well as our vision for the future.”

About United Properties
United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help enrich communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with offices in Denver and Austin, Texas. For more information, visit www.uproperties.com and follow on Twitter, LinkedIn and Instagram.

###

1 thought on “United Properties to triple portfolio of senior residences with launch of its new Amira brand

Comments are closed.