Enlivant Expands Presence in Key Markets
CHICAGO, Nov. 3, 2014 -- Enlivant announced today that it has entered into an agreement with LTC Properties, Inc. to purchase 16 senior living communities, consisting of 615 residential units, for $26,465,000. With this strategic acquisition, Enlivant enhances its ability to continue enriching the lives of seniors in attractive markets where the company already has a meaningful local and regional presence. The acquisition is scheduled to close prior to year-end.
Slated to be fully rebranded as Enlivant communities in early 2015, these 16 newly acquired assets in Arizona, Washington, Oregon and Idaho will deliver on the organization's commitment to provide the highest level of resident care possible. Including this acquisition, Enlivant begins 2015 in a unique position of both owning and operating 100% of all 188 of its senior living communities across 19 states.
"We are thrilled to increase the size of our owned portfolio by almost 10%," said Chief Executive Officer Jack R. Callison, Jr. "The continued build out of a strong and highly scalable operating platform, combined with the dramatic positive improvements in Enlivant's recent operational, financial and regulatory performance following the rebirth of our 33-year old organization 15 months ago, has provided the foundation for us to usher in a new era of exciting growth," said Callison. "We are proud of the tangible progress our teams at Enlivant are making in our ongoing quest to earn the right to be viewed as the nation's most trusted senior living provider."
Details of the communities being purchased by Enlivant are listed below:
- JASMINE HOUSE, Lake Havasu AZ
- DAVIS HOUSE, Bullhead City, AZ
- LEXINGTON HOUSE, Vancouver, WA
- MOUNTAINVIEW HOUSE, Camas, WA
- CRAWFORD HOUSE, Kelso, WA
- COLONIAL HOUSE, Battle Ground, WA
- PIONEER HOUSE, Walla Walla, WA
- CHENOWETH HOUSE, Kennewick, WA
- ORCHARD HOUSE, Grandview, WA
- KARR HOUSE, Hoquiam, WA
- SAWYER HOUSE, Eugene, OR
- LINKVILLE HOUSE, Klamath Falls, OR
- SYLVAN HOUSE, Hayden, ID
- ANNABELLE HOUSE, Caldwell, ID
- CLEARWATER HOUSE, Nampa, ID
- WARREN HOUSE, Burley, ID
With a proud 30-plus year history as pioneers in the assisted living industry, Enlivant and its subsidiaries operate several hundred senior living communities across 19 states. The company currently employs almost 5,000 dedicated caregivers and support employees across the country. At Enlivant, we are in the business of enriching lives through meaningful relationships and vibrant communities. Our employees are incredibly passionate about their individual role as part of a larger organization that places a premium on culture and values teamwork in pursuit of our new Mission, Vision and Values – all under the new Enlivant brand name. Sound "different"? That's because we are. For more information, please visit www.Enlivant.com.