Claremont House – Oakland, CA; In 1989 CRMS assisted in developing a non profit corporation called Claremont House, Inc. with the purpose of acquiring and owning a senior living community. In 1990 CRMS led Claremont House through the acquisition of a 157 unit retirement center located in the Piedmont area of Oakland. CRMS obtained financing using a $12 million dollar tax exempt bond issue for the purchase. CRMS renamed the community The Claremont House and then reorganized it by adding 20 more units of assisted living to provide a total unit compliment of 52 assisted living and 105 independent living units. This reorganization helped fuel a 30% increase in revenue during the first 3 years of management. From 1991 thru 2007 Claremont House census maintained a 95 to 99% occupancy level. During the 19 years of ownership Claremont House became known as the leading provider of senior housing and facilities in its market place. Claremont House also became the focal point for most senior community organizations who utilized the facilities for meetings and general senior gatherings.
In 2006 the Board of Directors of Claremont House asked CRMS to seek out potential buyers and begin a search for replacement facilities. It was the Boards belief Claremont House would require a substantial capital investment to update the property which was originally built in 1980. Subsequently, CRMS sold the facility in August 2008.
Signature Home Care – San Ramon, CA; Signature Home Care was formed June 2005 by the principles of CRMS to provide services for seniors in Oakland, California and the surrounding areas. Seniors received help with daily living including transportation, bathing, grooming, assistance to appointments and other needs to help with ongoing needs. CRMS grew annual revenues at Signature Home Care from $0 to nearly $800,000 within three years. Signature Home Care was sold in August 2008 in connection with the sale of Claremont House.
Sierra Country Club – Bishop, CA; Sierra Country Club is a 120 unit retirement facility located in Bishop, CA. In 1992, the court appointed CRMS receiver and manager of this facility. Annual revenues for this facility were $1 million and annual operating costs were $780,000. CRMS reorganized the Club's operations and operated it until July of 1994 at which time the facility was sold on behalf of the FDIC.
Hacienda –Fresno, CA; The Hacienda is a 285 unit multi level care facility located on 17 acres in Fresno, CA. The lender retained CRMS in 1992 to act as a consultant and management firm for a pending foreclosure. Hacienda required a financial and operational restructuring. CRMS operated this facility until May of 1994 at which time the lender reorganized it’s operating business. From the efforts of CRMS revenues increased from $1.0 million in 1991 to $2.76 million in 1993.