MCKINNEY, Texas, and OCEANPORT, N.J. — The Proveer Senior Living family of companies has formed a joint venture with real estate investment firm East Gate Alliance to form a seniors housing acquisition pipeline.
The two groups have been working collaboratively since earlier this year developing a partnership that also provides multiple lines of credit for pre-closing deal costs, due diligence expenses, and corporate overhead, as well as access to working capital for multiple years.
“We interviewed several owner-operators in the seniors housing space before ultimately choosing to partner with Proveer,” says Aaron Feiler, CEO and managing principal of Oceanport-based East Gate Alliance. “After our first call with Proveer, it became clear that we did not need to speak with anyone else. We are extremely excited about Proveer’s four existing deals and the robust pipeline we are now working on together.”
“Our two firms are like-minded and mission-driven,” says Matthew Thornton, founder and CEO of McKinney-based Proveer. “This relationship will enhance our ability to provide the highest levels of comfort and care for our seniors and their families.”
Heavenrich & Company, a boutique seniors housing investment brokerage firm based in Chicago, facilitated the partnership on behalf of Proveer.