Kauhale Health, a Midwest-based firm, announced its second acquisition in seniors housing with a deal in Greenville, South Carolina. Built in 2001, The Parker, comprising 66,765 square feet across 3.5 acres, features 74 assisted living and 17 memory care units. Within the past three years the common areas and more than one third of the units have been renovated and remodeled.
Blueprint handled the divestment of The Parker in 2020, when an undisclosed private investor acquired the community. Leadership turnover in a very competitive market led to declining performance between 2016 and 2017 before the community started to rebound in 2018. Cash flow continued to decline during Blueprint’s marketing campaign, with census having dropped to its lowest point since 2017 and RevPOR was well below reported market average. However, at the time, the community had stable memory care occupancy. Ben Firestone, Michael Segal and Brooks Blackmon handled that transaction.
Now, Kauhale Health has purchased the private pay community for an undisclosed price. This marks Kauhale’s second acquisition, and a subsidiary of Kauhale will operate the community. Kauhale will rebrand the community as Kauhale Pettigru.
