Seniors Facing Relocation Decisions As Regency Retirement Village of Birmingham and Tuscaloosa Has New Owners

August 3, 2026 - TUSCALOOSA, Ala. - The Regency Retirement Village of Birmingham is a Birmingham senior living community that upon its recent sale in May of this year featured 38 independent living, 24 assisted living, and 25 memory care residences. The Regency Retirement Village of Tuscaloosa upon its purchase in May consisted of 26 independent living residences and 81 assisted living and memory care residences, for a total of 107 residences. The sale in May was brokered on behalf of the Tennessee- based owner and operator of the two facilities.

Now it appears that the Regency Retirement Village of Tuscaloosa has been renamed the Riverwalk Senior Living of Tuscaloosa, although, it is not located anywhere near the Tuscaloosa Riverwalk. On the website for the Riverwalk Senior Living of Tuscaloosa their independent living services are listed as having a starting price of $2,900. This reflects a significant price increase from the rates under the previous owner which is causing financial difficulties for some of the residents. With some reports indicating that those who cannot afford the prices set by the new owners being faced with the decision to relocate.

The youngest members of the "Baby Boomers" generation are now in their early sixties and the oldest members of the Baby Boomer generation are approaching their eighties and some reports show that they are moving into senior housing at record rates. With most of the Baby Boomers prefering active-adult rental communities, but will also enter into independent living communities, if need be. When most elderly people make the decision to buy into any of those senior-oriented communities, they expect to remain there for the duration of their lives.

However, there is a new dynamic in the field of senior living that is being driven by private equity firms and other profit-minded types of investors. With Vistria Group in Chicago and Bain Capital in Boston being some of the leading private equity firms in the field of senior living. These types of private equity investors tend to focus on aggressive profits, increased property fees, and reduced staffing. Traditional business model dynamics that are, unfortunately, leading to soaring rents and reduced amounts on deposit returns for seniors who are typically on fixed incomes.

While the most obvious option for seniors who are experiencing a sudden price increase in their retirement community is for them to move out to a more affordable community, for those who wish to negotiate with their current senior living community some sources recommend reading the original residency agreement to see if the rate increases follow the stated rules and required notice periods. Another possibility is to schedule a meeting with the facility director to ask if there are any promotions or financial adjustments available or if there are any fees that can be waived. It is also recommended for interested seniors to check their eligibility for veterans' aid programs such as VA Aid and Attendance benefit or even to look into their state's Medicaid waiver programs. Alabama seniors can contact the state ombudsman to see if there are options available to them as the Office of the State Long-Term Care Ombudsman Program does offer services such as free advocacy and help resolving disputes with assisted living or nursing facilities. United Way of Central Alabama and other aging consortiums are also good sources for seniors to consult for assistance in finding other housing options or financial assistance.

At present, it appears that the new owners of the Regency Retirement Villages in both Birmingham and Tuscaloosa are affiliated with the Northpoint Management investment firm out of New Jersey. With Larry Katz signing the documents for the purchase of both properties. Two new operating companies were established for each retirement village. With Home Alabama AL OPCO LLC being listed as the operating company for the Regency Retirement Village in Birmingham and Crimson Tuscaloosa AL OpCo LLC being the operating company for the Regency Retirement Village of Tuscaloosa. Saul Wolhendler is the one who reportedly signed the documents for the two operating companies.

Luisa Reyes is a Tuscaloosa attorney, vocalist, piano instructor, poet, reporter, and columnist who writes on current affairs, politics, and the arts.