FOR IMMEDIATE RELEASE
Contact: Russell G. Kubik
Title: President, Edgewood Healthcare
(Grand Forks, N.D.) Edgewood recently announced the expansion of its South Dakota operations. Edgewood Real Estate Investment Trust (REIT) acquired Somerset Court Independent and Assisted Living community in Rapid City, South Dakota and entered into a long-term agreement to lease the community to Edgewood Healthcare of Grand Forks, ND. The Edgewood Somerset Court community provides accommodations for up to 110 residents and will become the fourteenth Edgewood senior living location in South Dakota.
“We are pleased to welcome Somerset Court to the Edgewood family,” said Russell G. Kubik, President of Edgewood Healthcare. “It’s easy to see this community will be a great addition to Edgewood. We’re confident our management group can ensure high-quality, consistent and innovative services to the citizens of Rapid City and the surrounding area, now and in the future. Our reputation for providing excellent senior services in a safe, home-like environment will serve area residents well,” continued Kubik.
About Edgewood Healthcare
Edgewood Healthcare is the leading operator of senior living communities in the upper Midwest. Since 1992, Edgewood has been committed to helping seniors stay as independent as possible, for as long as possible, with well-trained staff members in communities designed for residents to receive various living and care options. Currently, Edgewood operates 62 independent living, assisted living and memory care communities with over 4,000 beds in seven states (North Dakota, South Dakota, Minnesota, Montana, Nebraska, Wyoming and Idaho) and employs over 2,700 people. Edgewood Healthcare’s corporate offices are located at 322 Demers Avenue, Suite 500, Grand Forks, N.D.
About Edgewood Real Estate Investment Trust
Edgewood REIT is a Grand Forks-based Real Estate Investment Trust (REIT) that invests in senior housing communities and multi-family properties in the upper Midwest. Edgewood REIT’s affiliation with Edgewood Healthcare provides access to a knowledgeable senior housing operator which greatly minimizes the risks associated with owning a senior housing asset portfolio. The company has over 500 investors, most of which are North Dakota residents.