Pinnacle Living Gears Up For Growth In 2025, Starting With Two Acquisitions

Pinnacle Living is gearing up for growing its presence in Virginia through a combination of acquisitions, partnerships and development.

That’s according to CEO Chris Henderson, who said the Glen Allen, Virginia-based company has six campuses and serves around 1,200 residents in Virginia following a period of selling off communities to refocus and revitalize its balance sheet. 

In mid-December, Pinnacle Living acquired two communities, Hermitage Deep Run and Hermitage Three Chopt, which Henderson noted was “literally in the backyard of the market we know.” Furthermore, the sale was an opportunity to continue to diversify the organization’s product offerings to serve a more diverse client base.

The acquired communities are both within two miles of Pinnacle Living’s Cedarfield community in Richmond – in fact, one is across the street, and could help widen the company’s assisted living and memory care customer base.

“Where we started back in 2017 was taking that hard look at who we serve, how we serve them and how we can better serve the greater community, and that’s what really drove us to the diversification we’re seeing today in our product offering,” Henderson told Senior Housing News.

Pinnacle also is exploring additional growth in the coming years through development and redevelopment. In November, the organization submitted a special use permit application with the City of Richmond in order to redevelop its Hermitage Richmond campus. Once the permitting process is complete, construction will move forward and add 160 new independent living apartments and 72 assisted living and memory care support apartments. 

The organization has also purchased land in western Henrico County, Virginia, to develop an affordable senior living community, though due to current interest rates and construction costs it will unlikely start development until 2026 or 2027 at the earliest.

Henderson added there are acquisition opportunities that will be coming down the pipeline, and Pinnacle plans to be “aggressive but smart” about its growth. The nonprofit is also in the process of seeking out partnerships and potential affiliations, with Henderson saying talks are underway, though it is too early to make any kind of formal announcement at this time.

Growth for the organization isn’t strictly limited to Virginia either, with Henderson noting it is looking at surrounding states for additional opportunities, including Maryland, North Carolina, West Virginia, Kentucky and Tennessee.

The nonprofit is also looking to continue developing the programming it has in place at its existing communities, particularly through its “Pathways to Wellness” program, which takes a holistic approach through dining offerings, additional wellness opportunities and spiritual options for residents to “focus on the betterment of a person throughout their lives.”

“As we look at these new acquisitions, our Pathways Program is really helping to enliven the activities, events and programs that were a bit stale and a bit institutional in those campuses, and we’re working hard to make changes to really better the lives of the people who live there,” Henderson said.

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