Blakeford execs study 60-unit expansion

The leaders of the Blakeford at Green Hills senior housing community are looking into adding 60 independent-living units to its current offering of 124. The team led by CEO Van Cluck has hired consulting firm Dixon Hughes Goodman to study the project, which would start in the middle of next year at the earliest if approved. That information came our way Friday from analysts at Fitch Ratings, who have affirmed their rating and outlook for the $30 million in bonds the nonprofit Blakeford issue in 2012.

Blakeford has made significant investments in technology and created a tool that can monitor performance improvement online, which has also contributed to improved operations. Net operating margin of 16.8% in fiscal 2013 and 22% through the three month interim period ending March 31, 2014 has remained stable and above the 'BBB' category median of 9.9%.