Cathedral Rock Corporation is a holding company comprised of individual operating facilities. Both Skilled Nursing Facilities and Assisted Living Facilities are overseen by Cathedral Rock Management, LP. This management team is dedicated to the senior housing industry.
Cathedral Rock was founded by President and Chief Executive Officer, C. Kent Harrington, – more... in 1998. The company is privately held and based in Fort Worth, Texas. When he formed Cathedral Rock, Mr. Harrington believed in building a company based on service, integrity and teamwork. The management team emphasizes those principles in every decision, large or small. Once the 42nd largest operator of long-term care beds in the nation, though smaller now, Cathedral Rock strives to provide quality care for its residents and an uplifting, positive environment in which to work. Our residents and their quality of life come first. Close behind is the company's second priority - our staff, whose true fulfillment in their jobs comes by helping those residents receive the best care possible.
When the company was first started, focus was placed on acquiring and/or developing a strong portfolio of properties, varying from Skilled Nursing to Assisted Living to Independent Congregate facilities. The company now has 12 operating subsidiaries, operating in four states, never forsaking its founding principles and core values.
Cathedral Rock was incorporated late in 1997 and work was already in progress on the company's first development, an Assisted Living facility built in Hilton Head, South Carolina. The financing for the facility was finalized in June of 1998 and we officially broke ground on the site in August. In July, Cathedral Rock acquired its first existing facility, The Inn of SharonBrooke in Newark, Ohio, just outside of Columbus. This was soon followed in November of 1998 by the purchase of a seven-property Assisted Living portfolio in Texas. In December, Cathedral Rock purchased its first Skilled Nursing facility, Colonial Care Center in Granite City, Illinois. In one short year, Cathedral Rock had gone from the beginnings of one development to a growing company with 10 facilities.
In 1999, the decision was made to sell the Hilton Head facility to Southern Assisted Living, Inc. out of North Carolina. The facility became Carolina House of Hilton Head and had its grand opening in August of 1999. Also during that same summer, Cathedral Rock added two more facilities - another Skilled Nursing facility in Granite City, The Colonnades, and Whitley Place, another Texas Assisted Living facility in Keller, just outside the company's corporate base of Fort Worth.
Now operating 12 facilities in just over 18 months, the company spent the next few months stabilizing its portfolio and did not purchase another facility until September of 2000 when we added another Assisted Living facility virtually in the corporate office's own backyard, Tandy Village of Fort Worth. The following spring brought another nursing home, White Hall Multicare Center in White Hall, Illinois.
In July of 2001, as a result of several months' due diligence and negotiations, the company's largest acquisition to date took place. Cathedral Rock acquired a portfolio of 11 properties in Missouri and Illinois, bringing the company-wide portfolio to 25 properties in only three and a half years. In that same timeframe, the company grew from two employees to over 1800.
Cathedral Rock's rapid growth had not gone unnoticed in the senior housing industry. Ernst & Young selected the company to be included in its "Gazelle" list of growing companies. By the second year, the Assisted Living Federation of America (ALFA) named Cathedral Rock in its list of Top 50 Assisted Living Companies. In 2002, the American Health Care Association listed Cathedral Rock in the Top 50 Skilled Nursing Facility Companies.
Two more Skilled Nursing facilities followed. Richland Care and Rehab in Olney, Illinois was added to the portfolio in the spring of 2003 and Warsaw Meadows in Warsaw, Indiana, early in 2004. In the fall of 2004, Cathedral Rock began a staged disposition of some of its properties, reducing its size to the current seven Skilled Nursing and five Assisted Living facilities.
Cathedral Rock plans to resume its targeted growth strategy, seeking opportunities to add additional quality facilities in strategic locations throughout the Southwestern and Midwestern United States.
Mission, Vision, Creed
The Cathedral Rock Story
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