Bonita Springs, FL-based Discovery Senior Living, the country’s largest senior living provider, has expanded its footprint again by acquiring the management contracts for 26 senior living communities from Senior Solutions Management Group.
“This highly complementary transaction brings an established operating business and new institutional owner relationships into Discovery’s sophisticated platform,” Discovery CEO Richard Hutchinson said Monday in a statement. “The team at SSMG brings more than 25 years of demonstrated operating expertise, a deeply embedded performance culture and strong local market capabilities that complement Discovery’s institutional infrastructure and disciplined approach to optimizing asset performance.
The SSMG portfolio is concentrated across eight states in the South and Southeast, adding regional density to Discovery’s portfolio. The newly acquired portfolio includes more than 2,200 units, 69% of which are assisted living, 18% of which are independent living and 13% of which are memory care…