Tag Archives: partnership

Averett University and LifeSpire Sign Partnership Agreement

RICHMOND, Va. — Averett University and LifeSpire of Virginia launched the first-ever educational partnership for LifeSpire in a ceremony June 7 at Lakewood, a LifeSpire of Virginia continuing care retirement community in Richmond’s west end.

Averett University President Tiffany Franks and LifeSpire of Virginia’s President and CEO Jonathan Cook signed an agreement that includes a three-pronged partnership between the school and LifeSpire’s four continuing care retirement communities.

Dr. Tiffany Franks, President of Averett University, signs a partnership agreement with LifeSpire of Virginia, as LifeSpire President and CEO Jonathan Cook looks on.

The partnership allows employees of LifeSpire to earn their degree at Averett with scholarships awarded by Averett, LifeSpire residents to attend college-level lectures right where they live and Averett students to serve as interns at LifeSpire.

Cook praised the agreement as a step forward in positioning LifeSpire communities as employers of choice across Virginia.

Marcello Ouhali (Left), a nurse in Lakewood’s skilled nursing facility, talks with Stacy Gato, Averett University’s vice president for enrollment management, about scholarship opportunities with Averett as LifeSpire President and CEO Jonathan Cook looks on.

“We are excited to partner with Averett to offer these opportunities,” Cook said. “Averett prepares their students to make a difference in the world. LifeSpire helps team members achieve their full potential and believes that providing educational opportunities is a key piece of that process.”

Franks agreed, “LifeSpire and Averett University both value and encourage lifelong learning, a commitment to intellectual growth throughout one’s entire lifetime. We hope that LifeSpire employees and its residents will be excited about the opportunity to become a part of the Averett University family.”

LifeSpire President and CEO Jonathan Cook (Right) shakes hands with Dr. Tiffany Franks, Averett University President at the conclusion of the signing ceremony between the two organizations.

The partnership builds on the organizations’ shared mission and values as members of the Baptist General Association of Virginia. LifeSpire employees automatically qualify for Averett scholarships once they meet admissions criteria. For each undergraduate course taken, Averett will award a $250 scholarship and a $350 scholarship for each graduate course taken.

In addition, Averett will offer residents of LifeSpire communities the option of attending Averett University lectures and courses at home – right in their own community – beginning at Lakewood and expanding to LifeSpire’s other communities in Culpeper, Daleville, and Newport News. The program will launch in the fall 2019 and LifeSpire residents will be able to choose from classes in religion, communications and criminal justice/sociology.

Averett students will also benefit directly from this partnership, with opportunities to intern at LifeSpire in the areas of business, communications and accounting.

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About Averett University

Since 1859, Averett University has grown and developed into a dynamic institution that serves students of all ages, offering more than 30 undergraduate majors, minors and special programs, along with five graduate programs with a number of concentrations. Dedicated to preparing students to serve and lead as catalysts for positive change, the University’s historic main campus is embedded in the heart of Southern Virginia with regional campuses throughout Virginia and online. Averett enrolls a diverse student body, and boasts an alumni network that spans the globe.

About LifeSpire

LifeSpire of Virginia operates four continuing care retirement communities and one continuing care at home program in Virginia: The Culpeper in Culpeper, The Glebe in Daleville, The Chesapeake in Newport News and Lakewood and Lakewood at Home in Richmond. For 70 years, LifeSpire has provided compassionate, quality care to senior adults in a faith-based environment.

 

 

 

 

 

 

 

 

 

 

 

Contact: Danielle Staub (434) 791-5681
Email
: dstaub@averett.edu

Contact: Ann Lovell (804) 521-9192
Email:
alovell@lifespireliving.org

BB&T Capital Markets closes $85,505,000 Financing for LifeSpire of Virginia

In October 2016, BB&T Capital Markets closed an $85,505,000 Series 2016 Fixed Rate Bond issue for LifeSpire of Virginia. The proceeds will be used to retire LifeSpire’s existing Series 2006A and Series 2006C Fixed Rate Tax-Exempt Bonds as well as a taxable line of credit.

The refinancing produced a savings of $750,000 per year and restructured LifeSpire’s taxable line of credit into long term tax-exempt debt.

LifeSpire president and CEO, Jonathan Cook, expressed his appreciation for the partnership with BB&T to make the refinancing possible.

“This level of coordination and effort requires a firm with depth, creativity and commitment,” Cook said. “We could not be more pleased that BB&T Capital Markets provides the same level of client service for LifeSpire of  Virginia that we exhibit in caring for our residents.”

LifeSpire board chair, Robert L. Musick, Jr., agreed.

“Over the more than two decades I have served on the board, we have been fortunate to have the BB&T Capital Markets team as a trusted financial advisor and partner,” Musick said. “Whether in the best of times or in challenging circumstances, they have provided wise counsel.  We consider them to be a vital resource for the board as it fulfills its fiduciary responsibility to residents and other stakeholders.”

For more information, read BB&T’s full LifeSpire Series 2016 Case Study.