A long-term family owner/operator of a CCRC in Maumee, Ohio, decided to sell their only asset, but only to the right buyer. Ben Bohland and Collin Hempfling of Senwell Senior Investment Advisors handled the process (which also involved multiple advisors, attorneys and banking partners), which saw an active bidding environment and eight total offers.
The seller, who was entering retirement, was determined to find a buyer with similar values committed to preserving the campus’ reputation and culture of care. Established in 1949, Elizabeth Scott Community had been in the seller’s family for 75 years. It spans 51 acres and offers 60 skilled nursing beds, 47 independent living/assisted living units and a 26-unit memory care wing. The campus was well occupied and operated profitably, as well.
The ultimate buyer, which beat out several higher-value bids, was a Midwest not-for-profit organization, Heritage Pointe Communities. Owned by United Methodist Memorial Home (UMMH) of Warren, Indiana, Heritage Pointe operates three senior living communities: Heritage Pointe of Warren, Heritage Pointe of Ft. Wayne, and Heritage Pointe of Huntington. And it was operated by family members for many years, similar to Elizabeth Scott Community’s ownership.
