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Posted: September 21, 2021
2021 Ones to Watch: Richard Foster, Cedar Communities
Name: Richard Foster
Title: CEO
Company Name: Cedar Communities
What recent project, transaction or accomplishment are you most proud of?
We recently completed a refinance of an asset that was appraised for roughly two times what we purchased it for just two years ago. Despite COVID, our leadership team has been steadfast at growing occupancy in this community which contributed to its successful and substantial market cap increase and refinance. Any financing during COVID is challenging but financing a healthcare facility during COVID presented its own unique set of variables that we successfully overcame. I’m incredibly proud of the entire Cedar team at what was accomplished with this asset and this transaction!
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