Greenbrier Development Company Profile

Background

Founded in 2006 and headquartered in Dallas, Texas, Greenbrier Development is a full-service development and management firm specializing exclusively in the senior living industry across the United States. The company's mission is to provide expertise in general operations, sales and marketing, financial management, and resident care to its clients with the highest levels of integrity, value, and service. Greenbrier's vision focuses on creating value for users, owners, developers, operators, and the surrounding communities of the senior living projects it advises and develops. With over 100 years of combined experience among its principals, Greenbrier has been instrumental in planning, financing, developing, and marketing more than $2 billion in senior housing developments, including some of the largest and most exclusive communities in the country.

Key Strategic Focus

Greenbrier Development's strategic focus encompasses comprehensive services tailored to the senior living sector, including:

Strategic Planning and Market Analysis: Conducting in-depth market research to inform development strategies.

Financial Analysis and Financing: Providing financial assessments and securing funding for projects.

Site Planning and Acquisition: Identifying and acquiring suitable locations for senior living communities.

Development Coordination: Overseeing the entire development process from concept to completion.

Marketing and Management: Implementing marketing strategies and managing operations to ensure community success.

The company specializes in entrance fee-based not-for-profit senior living communities, offering flexible and customized solutions to meet each client's distinctive needs.

Financials and Funding

As of recent estimates, Greenbrier Development generates annual revenues of approximately $5.4 million, with a revenue per employee of around $120,000. The company employs approximately 45 individuals. Specific details regarding funding history and valuation are not publicly disclosed.

Pipeline Development

Greenbrier Development has been involved in several notable projects, including:

Enso Village: A Zen-inspired Life Plan Community in Healdsburg, California, developed in partnership with Kendal and the San Francisco Zen Center. The community emphasizes sustainability and holistic living, with a phased opening beginning in November 2023 and achieving over 60% occupancy by August 2024.

The Highview at SearStone: An expansion of the SearStone community in Cary, North Carolina, which opened in February 2024. This phase added 149 independent living units, 14 memory care units, 14 assisted living units, and 24 skilled nursing units, reaching 80% occupancy within the first few months.

Fort Mitchell Redevelopment Project: A $200 million project in partnership with Brandicorp LLC and St. Elizabeth Healthcare to convert the former Drawbridge Hotel and Convention Center near Cincinnati into an 11-story, 262-unit continuing care retirement community. The project is expected to break ground in 2024 or early 2025, with completion anticipated in 2027.

Technological Platform and Innovation

Greenbrier Development distinguishes itself through its commitment to sustainable and innovative design in senior living communities. The company integrates green technologies and sustainable practices into its projects, as exemplified by Enso Village, which incorporates energy-efficient buildings and waste reduction systems. This project also achieved the first Green Bond financing for a Life Plan Community, highlighting its dedication to environmental responsibility.

Leadership Team

Greenbrier Development's leadership comprises seasoned professionals with extensive experience in the senior living industry:

Michael Gilliam: President and Chief Executive Officer.

Stephen Young: Chief Financial Officer.

Tom Navin: Executive Vice President and Chief Operations Officer.

Gene Hooton: First Vice President - Development.

Clay Rumbaoa: Vice President of Development.

Cole Gray: Executive Vice President.

In April 2024, Dylan Redig joined the Planning & Finance Group as a Senior Associate, bringing experience from Houlihan Lokey and ERIKS.

Competitor Profile

Market Insights and Dynamics: The senior living industry is experiencing growth due to an aging population and increasing demand for quality senior housing. Developers are focusing on creating communities that offer comprehensive care, modern amenities, and sustainable living options.

Competitor Analysis: Key competitors in the senior living development sector include:

LCS Development: Specializes in developing and managing senior living communities, offering services from planning to operations.

Maxfield Research: Provides market research and consulting services for real estate development, including senior housing.

Concordis Senior Living: Focuses on the development and management of senior living communities, emphasizing quality care and resident satisfaction.

These companies, along with others like AktivBo, Sousou Partners, WIRE Consulting, and Magil Laurentienne, contribute to a competitive landscape in the senior living development industry.