The Quadrangle in Haverford, Pennsylvania has a split ownership structure: the land and buildings at 3300 Darby Road are held by HCP MA3 Pennsylvania, LP, an affiliate of the publicly traded real estate investment trust Healthpeak Properties, while the 74-acre senior living community itself is operated by Sunrise Senior Living under a lease.1 If you were expecting one name on the title, that split catches most people off guard, but it is standard in the senior living industry.
How the Ownership Is Structured
Senior living communities often involve at least two corporate layers: a real estate owner and a management operator. At The Quadrangle, Healthpeak Properties holds the real estate through its subsidiary HCP MA3 Pennsylvania, LP. Sunrise Senior Living leases the property from that entity and handles day-to-day operations, including staffing, resident services, and care delivery. Sunrise’s corporate headquarters are in McLean, Virginia.
Sunrise Senior Living is itself a subsidiary of Welltower, another publicly traded REIT. So the practical picture looks like this: Welltower owns the operator, Healthpeak owns the real estate, and Sunrise runs the community under a lease and management agreement. Decisions about fee adjustments, capital improvements, and service changes flow through the corporate operator, while the property title stays with the REIT that owns the land.
This arrangement insulates the real estate investment from operating risk and vice versa. It also means the answer to “who owns The Quadrangle” depends on whether you mean the business or the dirt underneath it. If you mean the real estate, it is Healthpeak, through HCP MA3 Pennsylvania, LP. If you mean the operating company residents interact with daily, it is Sunrise, under Welltower.
The Community’s Founding and Quaker Roots
The Quadrangle was incorporated in 1977 to own and operate a continuing care retirement community near Haverford, and it opened in 1989. It was founded by Haverford College alumni and rooted in Quaker values of integrity, simplicity, and community. Haverford College was established in 1833 by members of the Religious Society of Friends, so the Quaker connection runs through the college rather than directly through the Philadelphia Yearly Meeting, as is sometimes reported.
For its early decades, the community operated under a governance structure shaped by those founding principles. As financial and operational demands grew, professional management became necessary, and the property eventually transitioned to the corporate ownership model in place today. A resident association remains active, and the Quaker emphasis on consensus and communal decision-making still influences the culture even under corporate ownership. The nonprofit, alumni-driven origin is part of the history, but it is not the current ownership.
How to Verify Ownership Yourself
You do not have to take any corporate statement at face value. Two independent public records will confirm who owns The Quadrangle.
The County Deed
Property records for Haverford Township sit with the Montgomery County Recorder of Deeds. The Recorder’s office maintains all land records and documents for the county, including deeds, mortgages, and liens, with records dating back to 1784.
The county offers a free online Public Access System where you can search by property address or parcel number. Searching for 3300 Darby Road or the associated tax parcel will pull up the recorded deed, the legal entity listed as the title holder, and any encumbrances on the property. Basic searching costs nothing; certified copies carry a small fee.
The State Disclosure Statement
Under Pennsylvania law, The Quadrangle is classified as a Continuing Care Retirement Community, and the operator must obtain a certificate of authority from the Pennsylvania Insurance Department before operating. The governing statute is the Continuing-Care Provider Registration and Disclosure Act, enacted as Act 82 of 1984.
Providers must file an annual disclosure statement with the Insurance Department, and those statements are publicly accessible on the department’s website. For The Quadrangle, the disclosure identifies the lease arrangement with HCP MA3 Pennsylvania, LP and lays out the operator’s financial position. The statement is required to include the names and business addresses of officers, directors, trustees, and anyone with a 10 percent or greater ownership stake, along with certified balance sheets and income statements for the two most recent fiscal years and details about reserve funding, fee structures, and refund provisions.
Between those two documents, the county deed and the state disclosure, you can confirm the title holder and the operator independently.
Why the Ownership Split Matters
If you are evaluating The Quadrangle as a prospective resident or a family member helping with that decision, the ownership structure has real consequences. Entrance fees at continuing care communities are substantial, and the financial health that protects your fee is spread across more than one company. The real estate sits on Healthpeak’s balance sheet. The operating company that collects your monthly fees, employs your caregivers, and signs your contract is Sunrise, with Welltower behind it. A problem at the operator level does not automatically become a problem at the property level, and vice versa, but both affect the community you are moving into.
The Pennsylvania Insurance Department monitors provider solvency to protect those entrance fees. Providers must maintain reserve funding sufficient to meet their long-term care obligations, and the specifics of those reserves, including how the money is invested and who makes investment decisions, must be disclosed to prospective residents before they sign a contract. Reading the full disclosure, rather than relying on a marketing summary, is the single most useful thing you can do before committing six figures to an entrance fee.
Current residents have access to the same documents. Pennsylvania law gives continuing care residents the right to review the annual disclosure statements filed under state law, so you do not need to wait for a contract renewal to see updated financials on the operator or confirm the ownership structure. The provider must make the current statement available.