Healthcare Trust, Inc. (HTI) has transitioned operations of 20 senior living communities formerly managed by Cedarhurst Senior Living to Senior Lifestyle and Jaybird Senior Living.
The public non-traded real estate investment trust (REIT) on Wednesday announced it has moved operations of 13 Addington Place branded communities in Georgia, Michigan and Florida to Chicago-based Senior Lifestyle Corp, bringing its number of communities with the operator to 24.
Senior Lifestyle is currently rebuilding scale after shedding more than 50 communities in 2020. The company is “so pleased to be expanding our relationship with HTI, and to have our operating philosophy and hardworking team recognized,” CEO Jon DeLuca said in a press release.
HTI also transferred management of seven Addington Place communities in Illinois, Kansas and Missouri to Cedar Rapids, Iowa-based Jaybird, bringing the total number of HTI-owned communities with that operator to 25.
“When the opportunity presented itself to grow with an existing partner within our regional footprint, it made a lot of sense,” Jaybird Senior Living CEO Kevin Russell told Senior Housing News Wednesday. “Our values are aligned, so growing that partnership is an exciting opportunity for us.”
Jaybird Senior Living has more than tripled in size since 2019 and is targeting the middle-market for growth.
HTI, which owns 54 senior living communities, chose both operators for their “culture and customer service delivery,” according to John Rimbach, who is president of healthcare facilities with the REIT.
“They strive to execute on them daily, in all they do, and we’re delighted to be expanding our relationships with these two prominent senior living companies,” he said in a press release.
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