Greenfield Senior Living, Inc. announced on Nov. 7 its acquisition of two senior living facilities located in Memphis, Tenn., for a total transaction cost of $5.6 million.
Waverly Gardens, a 168-unit independent living community, was purchased from Waverly Gardens of Memphis LLC. Waverly Glen, a 52-unit assisted living and memory care community, was purchased from Kirby Oaks Integra LLC.
“The newly named, Greenfield Senior Residences at Lenox Park and Greenfield Assisted Living at Lenox Park will provide seniors a continuum of care in a campus-like setting,” stated Mathew Peponis, Chief Executive Officer of Greenfield. “We are excited about our growth plans in Tennessee and the opportunity to impact the lives of seniors throughout the Memphis metropolitan area.”
Occupancy in both locations was approximately 70% at the time of the acquisition. Greenfield is expected to imminently announce renovation plans for the two new communities and outreach opportunities to Memphis’s community of seniors.
Written by Alyssa Gerace