New Dallas-based Real Estate Development Start-up Eyes Major Growth Opportunities in Senior Living

DALLAS, Jan. 7, 2020 /PRNewswire/ -- As business leaders mobilize into the year ahead, the co-founders of Journey Capital, a newly formed real estate development company, are eyeing what they have identified as rewarding growth opportunities in senior living. The company's principals, Anand Patel and Narayan Patel, are preparing to announce multiple developments in the company's home state of Texas and have plans to grow further afield. With backgrounds in hotel development and acquisitions, the pair aims to parlay their successes in hospitality into senior living, which they see as a kindred business sector.

"Hospitality is in our DNA," says Anand. "We take great pride in guest service, and we wanted to bring that passion into a new space. Senior housing is a natural fit, but we think the industry needs to evolve to meet its potential. Our goal is to build senior living brands that are as sought after as the most trusted names in hospitality."

"We're approaching what the U.S. Census Bureau calls a 'transformative decade' as the last of the Baby Boomers reach retirement," says Narayan, noting census projections that 20 percent of the population will be 65 or older by 2029. "The demand for senior housing is growing, and the investments will follow. The question is what shape it's going to take. According to our research, our clientele wants a guest-centered model akin to what they might experience in a great hotel. That's exactly what we're going to offer, and more."

Anand and Narayan met in 2010 during business school at Southern Methodist University. After graduation, they worked together in development and acquisitions for a Dallas-based hospitality firm, supporting the company's growth to over $1 billion in assets and partnerships with the world's top hotel brands. They began exploring opportunities in senior living in 2016 and broke ground on their first two assisted living and memory care communities, the Grandview of Chisholm Trail in Fort Worth and Harvest of Roanoke, in 2018 and 2019, respectively.

The company's portfolio now includes two communities in operation and two under construction; and there are four more developments in their 2020 pipeline that will offer housing and services to residents whose needs range from independent living to assisted living and memory care.

"Our roots in hospitality run really deep. Our families have been doing this work for generations," says Narayan. "That's a big part of what drew us to senior living, knowing how important legacy is to a lot of families. Hospitality is what we know best. To us, it's a rewarding way honor our residents' life journeys."

About Journey Capital
Journey Capital is a real estate development and acquisitions company with a focus on senior housing properties. The company's portfolio currently includes four communities, including two currently in operation and two under construction, with an additional four in the pipeline.

SOURCE Journey Capital