South Korea's Largest
Multifamily Operator and U.S. Senior Living Operator Form New Joint
Venture Management Platform
SEOUL,
South Korea, July 16,
2024 /PRNewswire-PRWeb/ -- Today, Seoul-based GH Partners and US-based
Thrive Senior Living announce the formation of Thrive-GHP, a
joint-venture company formed to offer management services in the
rapidly growing South Korean senior living sector.
South Korea's senior population
is growing at the fastest pace of any nation globally. Compared to
other developed nations, South
Korea has lagged in the formation of a robust Senior Living
industry. As developers and property owners rush to provide South
Korean seniors with living options, the lack of experienced
operators has become an obstacle.
Through combining the South Korean team and established presence
of GH Partners with the global senior living experience of Thrive,
Thrive-GHP will offer a world-class management solution capable of
the quality of oversight, reporting, and compliance demanded by
institutional-grade investors.
By initially focusing exclusively on Active Adult and
Independent Living product types, Thrive-GHP will be able to offer
South Korean seniors the ability to live in a supportive and safe
environment for as long as they desire. By coordinating and
supervising third party care, Thrive-GHP will delay or eliminate
the need for a future move to a higher level of care.
Thrive-GHP will offer the ability for property owners and
developers to accelerate their entry into the senior living sector
by offering other services such as brand licensing, technology
partnerships, economies of scale through buying power, and
world-class customer service training programs.
About GH Partners: GH Partners is the largest multifamily
management company in Korea, providing a full range of value-added
services to its corporate clients - REITs, funds, private and
public corporations, and high net worth individuals. Since its
establishment in 2018, GH Partners has experience in managing more
than 21,000 multifamily residential units across the country. GH
Partners manages over 19,500 rental apartment units or 40
properties in primary markets across the country as of Q2 2024.
About Thrive Senior Living: Founded in 2008 in Atlanta, GA, Thrive has developed, owned, and
operated over $2.5B USD in senior
living communities worldwide. Through its realized direct
investments, Thrive has returned a 24.2% IRR and a 3.1X Multiple to
its investors. With joint-venture senior living businesses in the
United Kingdom and Singapore, Thrive continues to expand into new
markets and serve the rapidly growing global senior population.
For more information, contact Thrive-GHP at info@thrive-ghp.com
or cim@ghp.kr for Korean.
Media Contact
Jeramy Ragsdale, Thrive-GHP, 1
(404) 965-4132, info@thrive-ghp.com, thrive-ghp.com
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SOURCE Thrive-GHP