Thrive Senior Living Reaches 100% Occupancy at Three Communities, Propelling Company Growth

Thrive at Augusta, Thrive at Brow Wood and Thrive at Green Island demonstrate commitment to exceptional senior care

ATLANTA (Aug. 15, 2023) – The Thrive Senior Living leadership team celebrates the accomplishments of its teams at Thrive at Augusta, Thrive at Brow Wood, and Thrive at Green Island. These communities share the notable distinction of achieving 100% occupancy this year, with Thrive at Augusta at full capacity for the past 19 months. Reaching this achievement is a testament to the company’s continued growth and success in providing a nurturing and vibrant environment for its residents – a major accomplishment in senior living. Attaining 100% occupancy requires putting in the extra work and care to create a community that improves the quality of life and longevity of its residents.

“For us, 100% occupancy means much more than a number,” said Thrive President & CFO Sebby Kannukkaden. “This milestone tells us that every room is filled with older adults living their best, most fulfilled lives. It means that our teams are making sure they’re valued, understood, cared for, and appreciated. That’s the most we can ask for as a company.”

Since 2008, Thrive Senior Living has been involved in 42 senior living projects in 14 states. With every location, the company continues to change the way senior living is viewed through a philosophy that focuses on the community as a whole. By intentionally selecting team members and carefully planning every aspect of the resident and team member experience, Thrive is able to create a true community of people who love where they live and work. While the pandemic had a profound impact on the senior living industry, Thrive’s portfolio of communities has exceeded occupancy and performance expectations post-pandemic – as observed in these exemplary communities. “Motivated by this performance, we are advancing plans to grow in new and exciting ways over the coming months and years, including expanding our reach to the baby boomer generation through the development of a new class of active adult communities,” said Thrive Chief Investment Officer Alan Moise.

This milestone also coincides with another meaningful achievement for Thrive Senior Living. The company is pleased to announce the successful raise of its first discretionary General Partner (GP) capital fund. After years of raising capital on a deal-by-deal basis, this milestone represents a new era for the company’s investment strategy. Thrive Senior Living is excited to offer friends, family, and investors the opportunity to invest across multiple assets at one time. This strategic move not only ensures smoother capital management but also opens new avenues for potential investors to partner with the company on future developments.

“The launch of our first discretionary GP capital fund is an exciting step forward for Thrive, as it allows us to streamline our investment process and forge stronger partnerships with our investors,” said Thrive Senior Living Founder Jeramy Ragsdale. “We remain dedicated to our mission of creating meaningful communities and connections for seniors and look forward to a continued future of growth and success.”

About Thrive Senior Living:
Thrive Senior Living designs, develops, and operates innovative communities across the country that offer independent living, assisted living, and memory care. Thrive strives to build communities for older adults in a way that enriches lives through every dimension of health and wellness, and in doing so, elevates and honors these incredibly valuable members of our society. Privately held and headquartered in Atlanta, Georgia, Thrive has been named a “Great Place to Work” by Activated Insights for six consecutive years. The company currently operates communities in Alabama, Georgia, and New Jersey with continued growth in primary and secondary markets throughout the United States including a new development in Aventura, Florida. For more information, please visit thrivesl.com.

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Brianna Poplaskie
BRAVE Public Relations
404.233.3993
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