DALLAS — Senior Quality Lifestyles Corporation (SQLC), a nonprofit seniors housing developer and operator based in Dallas, has announced its plans to purchase Seniority Inc., an operator and marketing, sales and consulting firm currently owned by fellow nonprofit operator American Baptist Homes of the West (ABHOW).
SQLC currently owns and operates five communities in Texas and one in Indiana. Seniority manages seven communities in California and Oklahoma, and has five additional communities under development.
“The purchase of Seniority, Inc., will allow us to add more communities to our portfolio while expanding the services we can offer to our existing communities and others across the country,” says Stan Waterhouse, president and CEO of SQLC. “We are currently involved in negotiations with Cornerstone Affiliates and anticipate closing the transaction in the near future. We look forward to making Seniority a part of the SQLC family.”
Seniority Inc. was launched in 1997 as a wholly owned subsidiary of ABHOW, which is part of Cornerstone Affiliates.
“We underwent a lengthy review before entering into discussions with SQLC,” said John Cochrane III, president and CEO of Cornerstone Affiliates. “The decision was made after our board of directors and executive team determined that Seniority did not fit the organization’s new strategic direction. We have concluded that Seniority will thrive under different ownership.”
SQLC expects to finalize the purchase of Seniority Inc. by the end of the year.