Discovery Senior Living, NHI Launch Milestone JV Acquire …

Jene J. Long

(MENAFN- GlobeNewsWire – Nasdaq)

BONITA SPRINGS, Fla., April 04, 2022 (World NEWSWIRE) — Discovery Senior Residing (‘Discovery’) and Countrywide Wellness Investors (‘NHI’) have announced a new, joint undertaking, the provisions for which contain the acquisition and rebranding of nine (9) previous Getaway Retirement communities. Administration functions for the communities, which are positioned in Arkansas (2), Georgia (2), Ohio (1), Oklahoma (1), New Jersey (1) and South Carolina (2), have been transferred to Discovery Senior Dwelling and its subsidiary management corporations, effective promptly. Additionally, Discovery will be assuming functions of an assisted residing local community in Vero Seashore, Florida, by Discovery and NHI’s existing joint undertaking.

The acquisition signifies a breakthrough JV for NHI, which will share possession of the new, nine-community, Unbiased Dwelling portfolio with affiliates of the Discovery group. Of the recently rebranded communities, 7 have been allocated throughout Discovery’s new, Morada and TerraBella Regional Administration Corporations, with the remaining a few split up in between the provider’s Rittenhouse Village, Seaton Senior Dwelling and flagship Discovery Village portfolios.

The move is the most recent in a trio of significant-scale acquisitions that have observed the Discovery company and its money companions insert 39 communities considering the fact that November 2. The joint enterprise with NHI helps build a debut presence in Arkansas, New Jersey and Ohio, which grow to be the 17th, 18th and 19th states in which the senior dwelling service provider now owns and/or operates communities.

‘We are quite enthusiastic to improve our partnership even far more carefully with NHI and see remarkable options to leverage our exclusive working management framework to place these communities for additional accomplishment. The management workforce at NHI has been a large partner ahead of, in the course of and after the pandemic and we are both humbled and psyched to be component of their continued ahead evolution when executing our proprietary growth strategies,’ said Richard J. Hutchinson, CEO of Discovery Senior Dwelling.

‘We are excited to increase our partnership with Discovery by means of this new joint enterprise which is a transformative operating product for NHI. Our decision to pivot from the regular triple-net lease design to an working partnership is a milestone instant for the business and a single we would only ponder with a trustworthy and skilled partner like Discovery. This produces another avenue of lengthy-time period expansion for NHI and we are self-confident that Discovery will be a key husband or wife in delivering that progress,’ said Eric Mendelsohn, President and CEO of NHI.

Which include the most current acquisitions, Discovery Senior Living now operates a portfolio of 110 communities together encompassing more than 15,000 units.

About Discovery Senior Dwelling

Discovery Senior Living is a spouse and children of corporations that incorporates Discovery Management Team, Morada Senior Residing, TerraBella Senior Residing, Discovery Growth Group, Discovery Design Concepts, Discovery Internet marketing Group, and Discovery At House, a Medicare-licensed dwelling healthcare company. With nearly three decades of working experience, the award-winning management team has been acquiring, making, internet marketing, and working upscale senior-living communities throughout the United States. By leveraging its innovative ‘Experiential Living’ running philosophy across a developing portfolio of more than 15,000 present households or houses below enhancement, Discovery Senior Living is a regarded sector chief for lifestyle customization and now ranks amongst the 10 major U.S. senior residing operators and providers.

About National Wellbeing Investors

Incorporated in 1991, Nationwide Wellness Investors, Inc. (NYSE: NHI) is a genuine estate investment believe in specializing in sale-leaseback, joint-enterprise, mortgage loan and mezzanine funding of need-driven and discretionary senior housing and professional medical investments. NHI’s portfolio is made up of independent, assisted and memory treatment communities, entrance-fee communities, skilled nursing amenities, health-related office environment buildings and specialty hospitals.

Media Inquiries

Heidi LaVanway, Vice President of Marketing 

| 239.301.5330

Connected Pictures

Picture 1: Discovery Senior Living

Discovery Senior Living and NHI have introduced the acquisition and rebranding of 10 former Holiday getaway Retirement communities.

This content material was issued by the press launch distribution company at Newswire.com .

Attachment


Discovery Senior Living Discovery Senior Living Tags Discovery Senior Dwelling Mergers & Acquisitions National Health Investors NHI REIT Seniors Housing

MENAFN04042022004107003653ID1103960895

&#13
Authorized Disclaimer: MENAFN presents the information and facts “as is” without having warranty of any kind. We do not settle for any accountability or liability for the precision, content material, visuals, videos, licenses, completeness, legality, or reliability of the info contained in this posting. If you have any complaints or copyright troubles linked to this write-up, kindly speak to the provider earlier mentioned. &#13

Next Post

Meet Dread River Distilling Co.’s female distiller who is breaking industry barriers

BIRMINGHAM, Ala. (WBRC) – March is Women’s Historical past Thirty day period. In this article in Birmingham, a girl is earning her mark on the Magic City’s spirits scene. You could simply call a distillery a man’s earth. “I believe their is only 19 per cent of the distilling field […]