Discovery Acquires 16 Properties, Launches New Morada Brand for Portfolio

BONITA SPRINGS, Fla. — Discovery Senior Living has acquired a portfolio of 16 seniors housing properties in Texas, North Carolina and New Mexico, the largest single acquisition in the Bonita Springs-based owner-operator’s history.

Discovery’s partner on the acquisition was White Oak Healthcare REIT. The seller and names of the communities were not disclosed.

As part of the purchase, Discovery launched a new brand — Morada Senior Living. Based in Dallas and wholly owned by Discovery, Morada will oversee the new portfolio with a dedicated management team led by a division president.

The expansion further diversifies Discovery’s growing, multi-brand portfolio and establishes a stronghold in Texas, where the company owns 26 communities across 4 different brands. Texas now represents the highest number of communities in any of the 15 states where the company currently owns and operates.

“The portfolio of communities, on-site leaders and teams of dedicated professionals are a perfect fit for our Morada Senior Living brand, and the acquisition aligns very well with our strategy of growth by operating a portfolio of both national and regionally-focused brands with dedicated management teams,” says Richard Hutchinson, CEO of Discovery Senior Living.

With this most recent transaction, Discovery Senior Living now operates a portfolio of 69 communities with more than 11,000 units, placing the company in the nation’s top 10 largest senior living operators.