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Integral Senior Living Takes Over 6 Griffin-American Communities Amid Big Growth Push

Integral Senior Living (ISL) has taken over operations of six senior living communities owned by Griffin American Healthcare REIT III amid an effort to scale up its operations across the U.S.

The communities are located in Mishawaka, Hobart, La Porte and Elkhart, all in Indiana; and Niles, Michigan. They were formerly operated by Bethesda, Maryland-based Meridian Senior Living.

The communities are just the latest additions to ISL, which is currently in growth mode. This year alone, the company has added 23 communities to its senior housing portfolio, according to Jeffery Smith, ISL’s senior vice president of sales and marketing.

“We’re really growing in leaps and bounds,” Smith told Senior Housing News.

Although Griffin-American is investing some Cap-Ex into the communities, Smith said there are no plans to reposition radically with the management transfer.

Griffin-American is the latest company to partner with ISL, one of the country’s largest operators. ISL also last year began working with developer Legendary Living on a pipeline of resort-style projects.

With the addition of the six new communities with Griffin-American, the Carlsbad, California-based senior living operator now has 90 communities in its senior housing portfolio, including the 32 Solstice communities that ISL operates under a joint venture with Colony Capital (NYSE: CLNY).

To help support its recent growth push, ISL hired two new leaders: Adam Parton, who will work as regional vice president of operations; and Brandy Ross, who is regional director of sales and management.

While Smith didn’t share the company’s current occupancy rate, he said that ISL has made good progress rebounding from its pandemic occupancy losses. The company as of July has seen roughly 4.8% of net occupancy growth in its management portfolio, which does not include its Solstice communities. Smith attributes that growth to the company’s sales teams.

“Our teams have done a great job with [occupancy] and with retention, as well, because growth is more than new sales, it’s retaining existing residents,” he added.

Thanks to the fact that the company has exceeded its occupancy growth expectations, Smith said ISL has received interest from many ownership groups across the country in recent weeks and months.

“Our president and CEO, Collette Gray, gets a lot of calls,” Smith said.

Looking ahead, ISL will continue to search for new opportunities to grow.

“We’re excited about this time and we love growing like this,” Smith said. “Then, maybe we’ll get to a point next year where we say, ‘Okay, we’re the perfect size.’”

The Griffin-American transitions are occurring during a period of change for the REIT, as well. Griffin-American Healthcare REIT III is planning to merge with Griffin-American Healthcare REIT IV, creating a combined entity that could go public next year in the largest ever IPO for a health care REIT.

The post Integral Senior Living Takes Over 6 Griffin-American Communities Amid Big Growth Push appeared first on Senior Housing News.

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