LifeCare History

LifeCare is a dynamic and forward-thinking company dedicated to developing exceptional senior living communities. Since our founding as LifeCare Properties, we have been guided by our core values of integrity, knowledge, accountability, and results. 

As the company matured, we aligned our structure and leadership to support the next stage of growth and long-term continuity. This alignment marked the evolution of LifeCare Properties into LifeCare Development. 

LifeCare Development carries forward the principles that have defined our company from the beginning. Our approach is grounded in disciplined underwriting, selective market entry, and a clear focus on long-term performance. 

Our development history demonstrates the consistent success of this approach. 

• LifeCare Properties (LCP) is founded by D. Brooks Holstein, driven by a vision to create high-quality senior living communities.
• LCP enters a joint venture with operator Blake Management Group (BMG) to develop communities in Texas.

• The Blake at New Braunfels 
• The Blake at Waco 

• Anticipating labor and supply chain disruptions LCP proactively orders building materials, FF&E, and creatively overcomes obstacles resulting from COVID-19.
• In response to concerns created by the pandemic, LCP incorporates air purification technology in the New Braunfels and Waco plans.
• Despite record-breaking weather events throughout 2020, both projects remain on track.

• LCP establishes a key equity partnership with ERG Enterprises , enhancing our development capabilities and market reach.
• LCP and ERG announce plans for The Blake at Tyler.
• The Blake at Waco earns full licensure and open to residents in October.
• The Blake at New Braunfels earns full licensure and open to residents in November.

• Construction begins on The Blake at Tyler. 
• LCP’s design partner, Banko Design, earns the 2022 Bronze Award from the American Society of Interior Designers (ASID) for The Blake at Waco.
• Both The Blake at Waco and The Blake at New Braunfels are awarded the Accushield 5-Star Safety Rating Seal. 

• The Blake at New Braunfels achieves stabilization in April,18 months after licensure.
• The Blake at Waco achieves stabilization in July, 22 months after licensure.
• The Blake at New Braunfels reaches 100% occupancy in October. 

• The Blake at Waco reaches 100% occupancy in March.
• LCP completes the sale of The Blake at New Braunfels to Inspired Healthcare Capital in June.
• The Blake at Tyler earns full licensure and opens to residents in July.
• LCP completes the sale of The Blake at Waco to a publicly traded REIT in October.
• The Blake at Tyler celebrates Grand Opening in December.

• LCP announces plans for The Blake at College Station.
• LCP announces evolution into LifeCare Development.

• LifeCare and Blake Management Group formalize next chapter of longstanding partnership.