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David S. Searles
David Searles is primarily focused on implementing the Beverly J. Searles Foundation, Inc. Strategic Business Plan for 2015-2016.
Upcoming BJS Foundation new Independent Living communities in 2015-2016 include the following:
- Woodstock Healthy Living - 125 units market rate senior living with possible expansion to adjacent retail lots. We and our partner closed the land purchase in March 2015. Woodstock Healthy Living will use an expanded design of our recent Gainesville completion.
- In December, 2014, we closed the purchase of 13.7+ acres in historic downtown Fayetteville, GA. Depicted below are the front and rear elevations for the first phase of “Lafayette Place”. Lafayette Place Phase 1 will consist of 125 units of market rate senior living. Also currently in financing is second phase consisting of 90 units of licensed Assisted Living and Memory Care, financed in part with EB-5.
- Silver Comet Village –155 units of market rate senior living comprised of 90 units of licensed Assisted Living and Memory Care plus 65 units of independent living to be financed in part with EB-5.
- In May 2015, we closed the purchase of 36.7+ acres in Newnan, GA. Phase 1 will consist of 120 units of senior living financed with DCA Housing Tax Credits. Also currently in financing is second phase consisting of 90 units of licensed Assisted Living and Memory Care to be financed in part with EB-5.
David S. Searles, Jr.
CFO and Director, BJS Foundation
Manager of Herndon Place, LLC
Manager of Searles Realty Advisors, LLC
B.A., Finance, University of South Florida
M.B.A., Finance, Harvard Business School
Faculty, Harvard Business School
David Searles began his real estate career in 1971 developing an office in a Connecticut suburb of New York City. Beginning in 1973 he developed multifamily and land assets in Florida. In mid-1975, David moved to Atlanta to oversee development and management of a 625-acre golf course planned community in Roswell. As a general partner, developer and owner, he developed family apartments in Norcross, Georgia staring in 1983. Please see the roster of assets owned, developed and sold at the end of this profile. David was a Director of Tucker Federal Savings and Loan Association, a $320 million thrift institution, and its parent holding company, Eagle Bancshares, Inc. (now part of PNC Bank).
David and his brother Rick formed the non-profit Beverly J. Searles Foundation, Inc. to honor their late mother. Beverly regularly did volunteer work at the local hospital in Fort Lauderdale and she assisted many friends in their health issues, often offering her home for these friends needing rehab assistance. David and Rick worked to create a service organization in her memory that could allow lower-income seniors the privacy and dignity to gracefully age-in-place without ending up in the dreaded nursing home. A natural evolution of BJS Foundation was to incorporate development and ownership into the Foundation’s mission.
BJS Foundation is an IRS-designated 501(c)(3) organization and Georgia not-for-profit corporation. BJS Foundation holds member interests in Herndon Place, LLC. Other members are nominees of Place Properties. As an owner and operator of housing for seniors, BJS Foundation includes in its organizational documents these mission statements:
- You sent a gracious rain, O God, upon your inheritance; you refreshed the land when it was weary. Your people found their home in it; in your goodness, O God, you have made provision for the poor. Psalm 68:9-10
- “Go and enjoy choice food and sweet drinks, and send some to those who have nothing prepared. This day is holy to our Lord. Do not grieve, for the joy of the Lord is your strength.” Nehemiah 8:10
- “Suppose a brother or sister is without clothes and daily food. If one of you says to them, ‘Go in peace; keep warm and well fed,’ but does nothing about their physical needs, what good is it? In the same way, faith by itself, if it is not accompanied by action, is dead.” James 2:15-17.
- “And if I go and prepare a place for you, I will come back and take you with me that you also may be where I am.” John 14:3
- “I pray that out of his glorious riches he may strengthen you with power through his Spirit in your inner being, so that Christ may dwell in your hearts through faith. And I pray that you, being rooted and established in love, may have power, together with all of God’s people, to grasp how wide and long and high and deep is the love of Christ, and to know this love that surpasses knowledge – that you may be filled to the measure of all the fullness of God.” Ephesians 3:16-19
David S. Searles Photo
Myrtle Terraces Senior Living
Recently completed senior community, filled in 10 weeks and now with four year wait list
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