October 6, 2021

AHEPA Management Adds to Its Affordable Assisted Living Management Portfolio

Company projects to nearly double in size by year’s end

*FISHERS, Ind. — *AHEPA Affordable Housing Management Company (AMC) reached an agreement with Gardant Management Solutions to assume management of Hellenic Senior Living of Mishawaka, a 136-unit affordable assisted living lifestyle community, effective Oct. 1, 2021, announced AMC President and CEO Steve Beck.

The transaction completes AMC’s transition to become the management company of the four affordable assisted living communities it owns in Indiana under its Hellenic Senior Living brand. AMC manages the communities through its subsidiary, Hellenic Management, Inc. (HMI).

“We are excited to meet our goal to expand our management portfolio of affordable assisted living communities in addition to being their owner,” Beck said. “Affordable assisted living is the biggest secret in the country. Our residents are provided with quality round-the-clock services that help them to maintain their independence by assisting with their activities of daily living in a safe, dignified, and affordable residential setting. We look forward to providing a level of service at HSL of Mishawaka that matches some of the finest communities in the country.”

HMI offers low-income seniors, 62 and older, access to affordable and safe residential apartment-home living with the availability of personal assistance, medication administration, and a variety of support services, such as meals, housekeeping, laundry, socialization, and transportation. Residences are one‐bedroom or studio apartments, which include a handicap-adaptable full bathroom, individually controlled heating and cooling, an emergency call system, and a kitchenette.

In addition to Hellenic Senior Living of Mishawaka, AMC owns and manages Hellenic Senior Living of Indianapolis, Hellenic Senior Living of New Albany, and Hellenic Senior Living of Elkhart, the latter of which AMC assumed management, August 1, 2021. AMC’s affordable assisted living portfolio totals 532 units.

Hellenic Senior Living of Mishawaka opened in August 2020. It is located on four acres at 1540 S. Logan St., Mishawaka, IN 46544.

According to Beck, despite the challenges imposed by the pandemic, AMC projects to double in size in 2021, going from 300 employees to an expected 550 by the end of the year.

“A shortage of dignified affordable housing for our nation’s vulnerable seniors and access to the supportive and assisted living services they need to age in place and independently exists across the nation,” Beck said, adding the company’s nationwide waitlist exceeds 4,100. “Our company is positioned for growth to meet the needs of this expanding demographic. During the pandemic, our occupancy rate remained steady at 98.5 percent, and our resilient team has done a fantastic job to provide great service to prioritize the health and safety of our residents, including the facilitation of on-site vaccination clinics.”

In September, HUD awarded $16.7 million to AMC to construct two multifamily affordable elderly properties in Des Moines, Iowa, and South Bend, Ind.

About AMC

AHEPA Affordable Housing Management Company (AMC) is a mission-driven, nationwide provider of affordable independent senior living and affordable assisted living communities. It has developed and manages 87 affordable independent senior living communities in 19 states that are administered by the U.S. Department of Housing and Urban Development’s 202 program.

AMC, through its subsidiaries, Hellenic Senior Living, Inc., and Hellenic Management, Inc., owns and manages four affordable assisted living communities with 532 units located in Indiana.

AMC is a subsidiary of AHEPA National Housing Corporation (ANHC) and is based in Fishers, Ind.