The Daily Southerner, Tarboro, NC

Local News

November 30, 2009

Fountains going back to Watermark

W. TERRY SMITH

The Fountains at The Albemarle, a Tarboro fixture since 1983, is going back into familiar hands.

In what is being called a “management transition,” the retirement community in Tarboro and 15 other retirement communities will go back under the management of Watermark Retirement Communities Inc., a privately owned company based in Tucson, Ariz.

“We're truly happy to have them back,” said David N. Barnes, president/CEO of Watermark. “Watermark was the obvious choice for managing the Fountains portfolio because we know the communities so well.”

Watermark was formerly Fountains Retirement Communities. In 2005, The Fountains sold many of their communities, including the Tarboro facility, to a private investment firm and Sunrise Senior Living took over management.

At that time, several members of The Fountains management team joined together to form Watermark Retirement Communities.

“So ultimately, the community is returning to a management company which not only understands the business, but knows the community, the local market and many of the associates and residents,” said C. Jill Hofer, director of communication and public relations at Watermark.

With the addition of the Fountains portfolio, Watermark manages a total of 27 communities plus home health agencies, located in 16 states.

The Fountains at The Albemarle has capacity for approximately 200 residents.

“Watermark, with over 20 years of experience managing and operating all types of senior living communities, is committed to creating extraordinary communities where people thrive,” Hofer said.

The “transition” is expected to take place in February of 2010, said Sara Krueger, director of corporate communications for Sunrise.

“We will do our best to ensure that, throughout this process, residents will continue to receive high-quality care and service,” she said.

Over the past four years, Barnes, with his partner David Freshwater, has grown Watermark’s management portfolio to 11 communities plus three home health agencies in six states.

“We personally welcome back so many former residents and associates into the family of Watermark communities. It feels like we’re putting the band back together,” said Barnes.

Watermark Retirement Communities has owned and operated successful, innovative senior housing communities for more than 20 years. According to Barnes, Watermark is committed to creating extraordinary communities where people thrive and a culture where everyone is encouraged to express their creativity, passion and inner child – to express their true selves. As a result, Barnes said, Watermark communities are full of spirit, character, compassion and adventure.

Michael Salomone, executive director and skilled nursing administrator at The Fountains at The Albemarle, directed all questions to the Sunrise corporate office.

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