Enlivant, TPG Acquire 48 Seniors Housing Communities in 14 States

by Jeff Shaw

FORT WORTH, TEXAS AND SAN FRANCISCO — Enlivant, an owner and operator of senior living communities, and global investment firm TPG have purchased 48 seniors housing communities in 14 states from several unrelated organizations. The sales price was not disclosed.

The acquisition totals 3,084 independent living, assisted living and memory care apartment units, which represents a nearly 40 percent expansion for Enlivant. Sixteen of the transactions recently closed, and the remaining 32 are expected to close over the next several months.

“These transactions mark a period of significant business momentum for Enlivant as it continues to scale its national operating platform while maintaining its founding commitment of providing each of its residents with the highest level of attentive, individualized and personalized care in a home-like setting,” said Avi Banyasz, partner and co-head of TPG Real Estate, TPG’s real estate division.

The acquired communities are located in Arizona, Delaware, Florida, Georgia, Kansas, Illinois, Indiana, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Virginia and West Virginia.

Following these acquisitions, Enlivant will operate approximately 230 senior living communities spanning 11,000 apartment units across 27 states. Many of these new communities have larger total unit counts and more services than Enlivant’s typical community. TPG acquired Enlivant in 2013, which was at the time known as Assisted Living Concepts.

Founded in 1992, TPG has over $70 billion of assets under management, including $7 billion under its TPG Real Estate platform. The global investment firm has headquarter offices in Fort Worth and San Francisco, as well as regional offices in Austin, Beijing, Boston, Dallas, Hong Kong, Houston, Istanbul, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, São Paulo, Singapore and Tokyo.

— John Nelson

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