BALTIMORE — A joint venture has purchased seniors housing operator Spectrum Professional Services for an undisclosed price. The venture includes private equity firm Beecken Petty O’Keefe & Co., seniors housing operator Sunrise Senior Living and current investors in the acquired company.
Based in Baltimore and founded in 2007, Spectrum operates a wide range of seniors housing services, including skilled nursing facilities, assisted living communities, independent living communities and continuing care retirement communities.
The company has over 500 clients nationwide, according to Cain Brothers, which represented Spectrum as financial advisor in the transaction.
Current Spectrum management will retain partial ownership in the company.