New Operator Longevity Rises From The Ashes Of Anthology Senior Living

New operator Longevity Senior Living is picking up where Anthology Senior Living left off after its parent company, CA Ventures, ran into financial trouble.

Senior living veteran Carl Hirschman has carved out a new operator from Anthology to form Longevity Senior Living. Longevity is pursuing third-party management and acquisition opportunities, with plans to add between 10 and 15 properties in regional clusters.

Hirschman previously joined Anthology in 2023 as executive vice president of corporate strategy, where he was tasked with stabilizing and regrowing the company.

Now, he’s leading Longevity as its president, with former Anthology Executive Vice President Stuart Mottern as its head of finance and investments.

With a fresh start at hand, the company is seeking to grow, with nine third party management contracts in the process of closing and 15 letters of intent for potential acquisitions. The company is targeting markets in Mountain and Eastern time zones, including in the Carolinas; Nashville, Tennessee; Denver; and Phoenix. Longevity is catering toward Class A properties, or near that in performance and build quality, alongside plans to open Medicaid waiver buildings under a to-be-revealed sub-brand.

Hirschman believes Longevity has an opportunity to quickly improve occupancy at properties in those markets with a model dubbed the “Longevity Flywheel Approach to Care.” The concept rests on “integrating personalized care, movement for vitality, brain-healthy nutrition, and social engagement” to create a “thriving, self-sustaining ecosystem,” according to the company’s website.

The overall goal for Longevity is to “land and expand” by first purchasing a community or landing a third party management contract, and then building a regional presence in that area. The hope is for Longevity to have its first communities by August, with the potential to close between 10 and 15 deals by year’s end.

When seeking out management contracts, Hirschman said the company is open to working with “whomever,” particularly with operators who have scaled or owner-operators who previously attempted to launch their own management companies.

He added Longevity sees an opportunity to shore up the biggest potential weakness in senior housing by investing solely in people by having a “process oriented architecture.”

“We figure out the processes that are repeatable to make a difference, and then put in systems to make sure that those processes are consistently orchestrated at every community,” Hirschman said.

One example Hirschman provided is having key performance indicators (KPIs) for every director they are responsible for on a weekly basis. If an executive director leaves the company, there is a strong foundation for the remaining directors already in place through that process, he said.

“We have a little bit of a breather right now to take the lessons learned from having built and operated 50 properties, optimize our back end systems, our policies and procedures, and look at things differently so that we can do immediate scale,” Hirschman said.

He added: “We’re not a new operator that doesn’t know what going from three buildings to 12 buildings looks like.”

Hirschman got his start in the senior living industry in the late 2000s after building a company dedicated to providing internet and TV for senior living communities. Hirschman said he wanted to help his mom, who was a caregiver, and seeing a need during a visit to a National Investment Center for Seniors Housing and Care (NIC) conference in 2010 led him to starting a software company to help family and professional caregivers handle medical records.

After selling that company, Hirschman was brought on to help run Anthology Senior Living by CA Ventures CEO Tom Scott, as the two had previous experience with each other when Hirschman had started out installing TV and internet services for student housing.

Not long after joining, CA Ventures had planned to sell off the Anthology portfolio to recap what it could. Hirschman put bids on “quite a few” of the company’s properties, but was ultimately unsuccessful, with some of the properties changing hands to Welltower (NYSE: WELL).

“The portfolio under Anthology was shrinking, and there was kind of a fork in the road on what to do with Anthology,” Hirschman told Senior Housing News. “At that time, I actually offered to buy the company.”

Eventually, that process culminated in the launch of Longevity this January.

“It just made more sense to go ahead and have a completely fresh start, but then bring over the team from Anthology,” he said. “I’ve got an experienced team who’s operated 50 properties, that have done all this development and I can hit the ground running rather than having to reinvent the wheel.”

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