In 2001, Smith/Packett identified a freestanding Alzheimer’s/Dementia care facility in Lynchburg, Virginia for an acquisition along with the need for additional beds in the market place.
Runk and Pratt is a Lynchburg based operator that already had two assisted living facilities, but no Alzheimer’s/dementia care beds. By partnering with Smith/Packett on a lease with an option to purchase structure, Runk and Pratt was able to provide a continuum of assisted living services to their residents.
A 19 unit addition was added to the facility in 2002, and in 2005, the operator exercised their option to purchase.
