NEWS RELEASE | October 2010
572 Bed “Our House” Portfolio Closes to
Michael Collins, President and CEO of Senior Care Realty, LLC, located in Sun Prairie, WI exclusively represented the seller, a portfolio owned by Mark D. Burish, President and CEO of Our House Senior Living. Adam Fischer of Dynamic Healthcare, LLC located in Naples, FL represented the buyer the Red Capital Group located in Columbus, Ohio provided the financing.
“When Daren first introduced me to this portfolio, I knew I had some contacts in Private Equity groups that like these types of projects. At that time we were just coming out of the second quarter of 2009 and most of my contacts were still licking their wounds from 2008. That’s when I turned to Keystone knowing that their early model was to build, own, and manage small communities in secondary and tertiary markets. Once Keystone wrapped their head around Our House, to their credit, they were very aggressive in taking it down.”
Keystone Senior Living offers Independent, Assisted, and Alzheimer’s Care communities throughout the United States. With facilities located in Massachusetts, Ohio, Iowa, and Colorado, this acquisition will expand their footprint west, nearly double units under management, and reaffirm Keystone Senior LLC as one of the leading providers of seniors housing in the nation. Additionally Keystone Senior has received numerous awards and recognition for maintaining 98% occupancy on all facilities, including new developments over a year old. According to Co-Founders Managing Member David M Kingen and President Timothy O Eldredge “Our occupancy success can be directly contributed to our staff members continued focus on the service we provide, and our proprietary Marketing program.”
The “Our House” properties are located in Wisconsin and Minnesota total 561 units and 572 beds. The portfolio encompasses smaller communities located in tertiary markets with the largest being 41 units.
For more information, please contact Adam Fischer of Dynamic Healthcare, LLC, at 330-321-2029 or Adam@Dynamic-Healthcare.com. For more information on Keystone Senior Living, LLC, please visit their website at www.KeystoneSenior.com.