Now, he and three others have formed their own company, Oxford Development Holdings, to build and acquire senior care centers.
“I’ve had more fun in the last six months than — to be frank with you — than I had in the previous 10 years,” says Ayars, who is president.
Chris Dennis, who most recently was CFO at Occidental Management, is Oxford’s CFO.
Jason Wiley, who is COO, and Eric Legleiter, who is executive vice president, have a combined 40 years in the senior housing industry with various companies in Wichita.
Ayars says through the years, he’s done a lot of work with senior housing from the construction side.
“I was always impressed with the opportunity that was available,” he says.
He says the baby boomer generation has started hitting retirement age and will peak in size in about 2030.
“There’s a huge growing need for this industry,” Ayars says.
The centers that Oxford builds and acquires will include independent living, assisted living and memory care facilities, which are more specialized centers for people suffering from dementia and similar conditions.
The partners expect to have three centers developed or acquired by the end of the year.
“Our skill sets totally complement each other,” Dennis says.
He and Ayars will find projects, and Wiley and Legleiter will develop them.
“Jason and Eric are just phenomenal operators,” Dennis says. “They’ve never done anything but succeed in what they’ve done.”
Oxford’s office is on the 14th floor of the Wichita Executive Centre downtown.
Ayars says this business makes perfect sense for him.
“A lot of people don’t realize, most of my life I’ve had my own shop,” he says.
With that and his construction history with senior centers, Ayars says the new company is hardly a leap.
“This is what I have fun with every day.”