Transactions and Financings

Transactions and Financings

Transactions & Financings LCS Assumes Operations of Rose Senior Living; United Church Homes’ New Development Venture

Article originally posted on SeniorHousingNews on January 13,2021

Sales and operator transitions

Life Care Services assumes management of former Rose Senior Living communities

Life Care Services assumed management of six communities owned by Rose Senior Living, an operator based in Bloomfield Hills, Michigan.

The communities include:

  • Heritage at Irene Woods, Memphis, Tennessee
  • Rose Senior Living and Rose Villas, Avon, Ohio
  • Rose Senior Living, Beachwood, Ohio
  • Rose Senior Living, Carmel, Indiana
  • Rose Senior Living, Clinton Township, Michigan
  • Rose Senior Living at Providence Park, Novi, Michigan

Additionally, Life Care Services is under agreement to manage a seventh community currently in development – Rose Senior Living in Farmington Hills, Michigan, which is scheduled to break ground later this year. The portfolio was previously managed by Ecumen.

Foundry Commercial venture acquires Kansas community

FSL Senior Living Ventures, a senior housing joint venture from Foundry Commercial and Foster Senior Living, acquired The Piper, a 120-unit senior housing community in Kansas City, Kansas. The community includes 60 assisted living units, 20 memory care units and 20 physician-directed care units.

Fundamental Advisors, in partnership with Scribner Capital, provided the joint venture equity for the acquisition. Ziegler Managing Director Dan Revie and Vice President Tedd Van Gorden represented the seller in the transaction.