1019 Senior Living, an owner/operator that was founded in 2021 by James and Heather Kesler, acquired two seniors housing communities in Indiana. Both were properties previously operated by Bickford Senior Living. Of course there are always hurdles that come with closing a deal, however this transaction, which Blueprint handled, was very smooth.
1019 Belle’s Place of Crawfordsville is a standalone memory care community with 28 units in Crawfordsville. 1019 Belle’s Place of Wabash also comprises 28 assisted living/memory care units, and is in Wabash. Both were built in 2008. The purchase price was not disclosed, however, it was noted that it was a “very good deal.”
One of the communities’ census was distressed, and it was not making money, and the other was stabilized and breaking even. 1019 Senior Living targets value-add communities in which their management style can be brought in to turn around the community. 1019 has a successful history of this, having previously taken another community from 43% occupancy to between 96% and 100%. That community is currently financially sound and stabilized.
You can expect to hear more seniors housing acquisitions from 1019 Senior Living, as it has plans to continue growing to the point that it can still retain its culture.
