SRI Management Plans Significant, Calculated Growth in 2018
TALLAHASSEE, FL–SRI Management LLC, one of the fastest growing privately held management companies in the Southeast, announces today its growth plans for 2018, slated to more than double its management contracts in the year ahead.
Developing and managing senior housing communities as a high-touch, results-oriented operator with signature core values of character, compassion and commitment, SRI currently manages 11 independent, assisted living and memory support communities, encompassing more than 1,100 beds and operating revenues exceeding $44-million, annually.
The company is slated to end 2018 with 25 properties under operation or in phases of pre-opening. Once completed, the additional properties will increase the SRI portfolio to over 2,500 beds and more than $100-million in annual revenue.
“SRI Management has proudly served our owners and operators throughout Florida for nearly two decades,” said Don Bishop, CEO, SRI Management. “We are proud to maintain our focus on putting people first—owners, residents and their families and our associates—as we embark on what is an exciting time of significant growth.
“The latter part of 2017 and first quarter of 2018 provided our team opportunity to secure contracts with owners and operators throughout the Southeast,” Bishop added. “As we begin development and take over management on new communities, we look forward to bringing the SRI core values to each of these projects.”
In First Quarter 2018, SRI Management took over management on its first Georgia community, the Claiborne of West Lake (Augusta) scheduled for completion late summer 2018. SRI Management broke ground on two Florida properties including Village Veranda (Lady Lake) and Seagrass Village (Port Orange) and unveiled following renovation of The Beacon (Gulf Breeze). In addition, the company opened The Arbors of Gulf Breeze in the Florida Panhandle at the end of March 2018.
“While our anticipated growth in the year ahead is impressive, our forecast and business plan is deliberate,” Bishop explained. “Our internal structures are well-aligned to provide all of our managed properties the focus each deserves, with strong teams and internal systems in place to oversee the developments with SRI’s signature approach.”
The upcoming months include groundbreakings and openings of four additional southeast properties, and continued research and development of signature SRI programs, all with SRI’s focus to continue changing the category of senior living while creating a new definition of elder care, far beyond the old stigma of nursing homes.
With on-site programming reminiscent of resort living, SRI develops communities to be the next phase of life for seniors, something for potential residents to look forward to moving into in life.
Since its inception in 2000, SRI’s leadership has consistently stayed ahead of the curve, anticipating changes in the industry and forging strong relationships with owners. Each SRI-managed property achieves optimal results in all areas of the business, including revenue performance, gross operating profit, quality, associate satisfaction and retention.