Vitality Senior Living Buys Community in Allen, Texas
Nashville’s Vitality Senior Living has purchased an 86-unit independent living, assisted living and dementia care community in Allen, Texas.
Vitality rebranded the year-old community as Vitality Court, Texas Star, according to a press release.
“Our plan is to build upon an already great community with Vitality-specific physical plant and programmatic enhancements,” stated Chris Guay, founder and president of Vitality Senior Living. “These enhancements will start day one, as we invest immediately in infrastructure and physical plant upgrades that will support our commitment to enhancing lifestyles and redefining aging through innovation and technology.”
Investment Firm Buys Independent Living Community Near Denver
Pathfinder Partners, a San Diego-based firm specializing in real estate investments, purchased a 104-unit independent living community within the Shalom Park Senior Living Campus in Aurora, Colorado.
The community, Shalom Village, was part of the greater Shalom Park non-profit, rental CCRC, and the seller has retained its long-established Shalom Park Nursing Home and its Wellness Center on the campus. Pathfinder is partnering with Hillcrest Development Group, a Denver-based company with experience in operating senior communities, on the acquisition.
Pathfinder, which acquired the community for roughly $16 million with help from Blueprint Healthcare Real Estate Advisors, plans to invest an additional $3 million into renovations and rebrand it as Villa Esprit.
The renovations will include a new clubhouse and card room, in addition to a modernized theater room, library, communal dining area and leasing office. The firm also plans to renovate the community’s apartments with new countertops, flooring, cabinets and appliances.
GTCR to Buy GreatCall
GTCR, a private equity firm headquartered in Chicago, plans to buy connected health company GreatCall, according to a press release.
San Diego-based GreatCall is the largest provider of connected health and personal emergency response services for active aging and serves over 800,000 subscribers across the U.S. The company’s product portfolio includes hardware connected to agents who can answer questions, dispatch emergency personnel, connect to family caregivers and provide additional concierge services.
The acquisition is expected to close in the third quarter of this year. The deal’s financial terms were not disclosed.
Written by Tim Regan