(Grand Forks, N.D.) Edgewood Management Group, LLC. (EMG) a Midwest operator of assisted living communities has announced that it has entered into an agreement with Investors Real Estate Trust ("IRET"), an equity real estate investment trust located in Minot, North Dakota, to manage five assisted living communities in Wyoming. EMG and IRET will also be announcing expansion plans in at least three of the properties, to add memory care units and additional assisted living units.
The properties, purchased by IRET, are located in Casper, Cheyenne and Laramie, Wyoming, and have approximately 322 total units. EMG’s President and Chief Executive Officer, Phil Gisi commented, “We are pleased with our partnership with IRET. Edgewood is committed to helping seniors stay as independent as possible, for as long as possible. These five properties will be a nice addition to the Edgewood family of senior living communities.” Edgewood Management Group, LLC. of Grand Forks, North Dakota, owns and/or manages 27 assisted living communities in North Dakota, South Dakota, Montana, Minnesota, Nebraska and Wyoming, with the combined ability to serve more than 1,900 residents.
Forward-looking StatementsStatements contained in this release other than statements of historical fact, including statements regarding anticipated financial performance, business strategy and management plans and objectives for future operations, are forward-looking statements. Forward-looking statements generally/but do not require words such as expect, intend, will, anticipate, believe, estimate, plan, strategy or objectives or other similar expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Given these risks and uncertainties, readers are cautioned not to place undue reliance on EMG’s forward-looking statements. All forward-looking statements contained in this release are necessarily estimates reflecting the best judgment of the party making such statements based upon current information, and EMG assumes no obligation to update any forward-looking statement.
