REDICO, Ciel form joint venture to develop community in coastal delaware. August 4, 2026 REHOBOTH BEACH, Del. - REDICO and Ciel Senior Living have formed a joint venture to develop a new senior living community in Rehoboth Beach. REDICO will lead the development and investment strategy for the project, and Ciel will serve as the operating partner when the community opens. "Our involvement in this project and our ability to attract the financing necessary to make it possible reflects renewed investor interest in this industry," says Dale Watchowski, CEO of REDICO and American House Senior Living. "This project also reflects REDICO's broader senior living development strategy, which combines institutional capital, experienced operating partners and targeted market expansion in high-demand markets." This marks one of several communities that REDICO and affiliate American House plan to open over the next several years, according to the company. Ciel Senior Living currently operates a portfolio of more than 3,000 units across 20 communities in 10 states.

REDICO and Ciel Senior Living announce joint venture partnership to develop a new Senior Living community in Rehoboth Beach. Jul 08, 2026, 09:30 ET Partnership signals renewed industry interest in senior housing communities SOUTHFIELD, Mich. and GARDEN CITY PARK, N.Y., July 8, 2026 /PRNewswire/ - REDICO and Ciel Senior Living have formed a joint venture to design and build a new senior living community in Rehoboth Beach, Delaware. The project signals renewed confidence in developing and financing new senior housing communities while helping meet the growing demand for high-quality senior living options throughout Sussex County and the surrounding region. The partnership brings together REDICO's experience as a developer, investor and owner of senior housing communities with Ciel Senior Living's operating platform. Under the joint venture, REDICO will lead development and investment strategy, with Ciel serving as the operating partner for the community. "Our involvement in this project and our ability to attract financing necessary to make it possible reflects renewed investor interest in this industry," said Dale Watchowski, CEO of REDICO and American House Senior Living. "This project also reflects REDICO's broader senior living development strategy, which combines institutional capital, experienced operating partners and targeted market expansion in high-demand markets." The project is one of several new senior living communities that REDICO and its affiliate, American House, are planning to open over the next several years across several states in the Midwest and on the East Coast. The project also marks an important milestone for Ciel Senior Living, a rapidly growing senior housing operating and development platform that currently manages more than 3,000 units across 20 communities in 10 states and continues to expand through strategic operating, acquisition and development partnerships nationwide. "This is more than the start of a construction project - it is the realization of a vision," said Edward Burnett, Co-Founder of Ciel Senior Living. "Rehoboth Beach has long been a destination known for its quality of life, vibrant culture and strong sense of community. We are honored to bring a senior living experience that reflects those qualities while creating an environment where older adults can continue to live with purpose, connection and confidence." Upon completion in 2028, Ciel of Rehoboth will feature 144 thoughtfully designed luxury suites offering Independent Living, Assisted Living and Memory Care. Inspired by the beauty and character of Delaware's coastal heritage, the campus will combine elegant design, resort-style amenities, exceptional dining, engaging programming and personalized wellness and care services tailored to each resident's individual needs. "From the resident experience to the design of the community itself, every aspect of Ciel of Rehoboth has been thoughtfully planned to foster connection, promote well-being and deliver the elevated hospitality that defines the Ciel brand," said Alexis Martini, President and Chief Operating Officer of Ciel Senior Living. As Delaware's senior population continues to grow, the need for sophisticated, service-rich senior living options has never been greater. Through their partnership, REDICO and Ciel are meeting that need with a thoughtfully designed community that will enable residents to age in place while enjoying an active, fulfilling lifestyle supported by hospitality-driven services and compassionate care. About REDICO Founded in 1967, REDICO is a vertically integrated real estate investment, development and operating company with a national footprint and a portfolio exceeding $4 billion in value. The firm owns and manages approximately 8,000 residential units and more than eight million square feet of commercial space across a diversified mix of office, retail, mixed-use, healthcare, industrial and senior housing assets. REDICO's senior housing platform, American House, was established nearly 50 years ago and is among the nation's largest senior housing providers. With more than 70 communities across the Midwest, Southeast, Mid-Atlantic and Northeast, the platform offers a full continuum of care, including Independent Living, Assisted Living and Memory Care. About Ciel Senior Living Ciel (pronounced "see-EL") Senior Living is a senior housing management, development, and investment platform dedicated to creating exceptional living experiences for older adults. Guided by its mission to Connect. Inspire. Enrich. Live Well., Ciel develops and operates communities across the United States offering Independent Living, Assisted Living, Memory Care, and Skilled Nursing services rooted in hospitality, wellness, and personalized support. With a commitment to innovation, operational excellence, and resident-centered care, Ciel continues to redefine what it means to age well. SOURCE REDICO

Southfield's REDICO makes promotion, new hire. April 21, 2026 REDICO, a national real estate development and investment firm headquartered in Southfield, Michigan, promoted Samantha Eckhout to Managing Director of Investments and hired Matthew Winsryg as Senior Vice President of Development. The leadership transition reflects the company's evolving strategy to accelerate growth of the American House Senior Living platform through expanded acquisitions, development and capital partnerships. In her new role, Eckhout will lead the investment strategy for American House Senior Living, focusing on acquisitions, development initiatives and the cultivation of capital partnerships to support continued expansion of the platform. She will be responsible for sourcing, underwriting and executing senior housing investment opportunities while working closely with institutional investors, joint venture partners and capital providers. Eckhout will also guide recapitalization strategies across the existing portfolio and work closely with the American House operations team to ensure that investment and development decisions are grounded in real-world operational insight. That operator-led perspective helps inform site selection, design, underwriting and long-term community performance. A 15-year REDICO veteran, Eckhout brings more than 25 years of real estate experience and has developed or acquired over 10,000 residential units throughout her career. She is an active member of the National Lifestyle Residential Development Council 55+. Prior to this role, she oversaw development for both REDICO and American House, helping guide multiple projects from site selection and entitlements through construction and stabilization. With Eckhout focusing on investment strategy and capital partnerships, Winsryg will lead the day-to-day development execution for the American House platform. As Senior Vice President of Development, he will oversee new development opportunities, land acquisition and management of projects currently in the development pipeline, while also directing capital improvement initiatives across the company's existing portfolio. Winsryg's commercial real estate development experience is rooted in senior housing and multifamily communities. He's held leadership roles with nationally recognized development firms, including Sares Regis, Liv Communities and Atria Senior Living, where he oversaw the design and development of mixed-use, retail, affordable, market-rate and senior living communities across the country. A trained architect with a hands-on approach to development, Winsryg works closely with project teams from entitlements through construction. Over the past decade, he has focused on land acquisition and identifying development opportunities in high-growth markets. Earlier in his career at Atria Senior Living, he led capital improvement initiatives across a large senior housing portfolio, gaining extensive experience in renovation and repositioning projects that enhance the resident experience. Together, Eckhout and Winsryg will lead the next phase of growth for American House Senior Living, building on the company's proven success in full-cycle development - from land control and entitlements to lease-up and stabilization.