LCS Experiencing Growth in Development and Investment Business

DES MOINES, Iowa, Nov. 5, 2014 (GLOBE NEWSWIRE) -- LCS® announced three additional promotions today in response to their growing development and investment portfolios. Kent Larson was promoted from senior vice president/director of development to executive vice president/director of development; Allison Pendroy was promoted from finance director/asset manager to vice president/director of asset management; Dan Lahey was promoted from finance director/mergers and acquisitions to vice president/director of investments.

"Our industry is growing. Companies entering this market space are partnering with LCS because of our deep experience and strong reputation," says Ed Kenny, chairman and CEO of LCS. "LCS Development is currently working on a pipeline of projects valued at over $1.0 billion. Our investment group has invested more than $50 million in the senior living industry in the past three years. We believe this growth will continue and we are poised to take advantage of the opportunities ahead."

Larson is the leader of LCS Development™, An LCS Company. He joined the organization in 1980 and has extensive experience in construction, design, and project management. Larson will oversee all development for CCRCs, rental, assisted living, and memory care communities. He serves on the LCS Board of Managers and Life Care Services™ Board of Directors. He holds a Bachelor of Science degree in construction engineering from Iowa State University and an MBA from Drake University.

Pendroy joined LCS in 2009, working in finance for Equity Communities. During her time at LCS, she has focused on the company's senior living real estate portfolio developing financial projections and performance metrics, investment valuations, partner relationship building and securing capital for key projects. In her new role, Allison will oversee the investment management performance of the LCS real estate portfolio. She earned a Bachelor of Business Administration in finance from The University of Iowa, with a minor in Spanish and emphasis in accounting.

Lahey joined LCS in 2008, working in the areas of tax and capital markets. In 2010, he accepted the role of finance director/mergers and acquisitions. He has been instrumental in the growth of the LCS real estate portfolio and helped identify and negotiate capital sources and joint venture partnerships. In his new role,
Lahey will lead the company's strategic investment activities, including mergers, acquisitions, joint ventures, and leases. Lahey has a Bachelor of Arts degree in accounting and finance from Wartburg College.

About LCS

Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies provide development, management, marketing and sales, and strategic planning for continuing care retirement communities (CCRCs), stand-alone assisted living, memory care, and rental communities nationwide. The company also provides in-home care, insurance, and national purchasing consulting services. LCS companies serve 33,000 seniors and is the nation's third largest management company. LCS is an equal opportunity employer hiring skilled and professional employees to better serve the customer. For more information, visit LCSnet.com.

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=28869

CONTACT: Jeri Uhlmansiek National Marketing Manager 515.875.4702 uhlmansiekjeri@lcsnet.com

Source:Life Care Services LLC