Monday, March 27, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Retirement

Holiday Retirement To Join Atria Senior Living’s Management Services Business

MtR by MtR
June 21, 2021
in Retirement
0
Holiday Retirement To Join Atria Senior Living’s Management Services Business


LOUISVILLE, Ky., June 21, 2021 /PRNewswire/ — Atria Senior Living, a leading operator of senior living communities across the United States and Canada, announced today it has entered into a binding agreement to acquire the management services business of Holiday Retirement. The transaction is expected to close during the third quarter of 2021, simultaneously with the Welltower (NYSE: WELL) acquisition of 86 Holiday owned and leased senior living communities, along with a long-term management services agreement with Atria. Holiday currently manages 240 communities in 43 states.

Immediately following the transaction, the Atria and Holiday brands will continue to operate separately, with Holiday operations continuing to be supported by their team in Winter Park, Florida. The Atria and Holiday leadership teams look forward to working together to create an optimized, long-term strategy for the combined company, benefiting from the experience and leadership of both teams. The combined company will serve more than 45,000 residents with more than 19,000 employees and manage 447 communities across 45 states and seven Canadian provinces.

“We will build the best pure-play management services business in senior living.”


Tweet this

Atria Senior Living Chairman and CEO John Moore said, “This transaction enables Atria – by joining forces with Holiday CEO Lilly Donohue, her great team and all of the passionate and dedicated associates in Holiday communities across the country – to continue on our path to create a thoughtful variety of choices as unprecedented numbers of people seek senior living options in the decade ahead.”

While the combination of the Atria and Holiday brands will create North America’s second largest senior living provider, Moore said, “This transaction is not about getting bigger, but it’s about getting better and actualizing our vision of growing our management services platform to focus on the senior housing segments that we think will benefit the most from scale and quality.

“Atria’s overall management portfolio will now be clearly focused on two types of high-quality products – a portfolio, which after the transaction will include more than 250 purpose-built, nearly identical, well-conceived communities, providing an approachable price-point product to consumers as well as Atria’s legacy collection of amenity-rich, higher-price communities concentrated in coastal markets, including the recently opened Atria Newport Beach and the groundbreaking luxury urban communities underway in our joint venture with Related Companies, with Welltower as partner in the first two buildings in San Francisco and Hudson Yards in Manhattan. We are intentionally building a portfolio that will benefit from our background and skill set, utilizing our industry-leading support tools, technology and team we have built over the past 20 years – and now adding the depth and strength of the Holiday team.

“For the residents, families and staff of all Holiday communities, we want the integration to be as seamless as possible, and we’re excited about the opportunity to bring new investment to Holiday’s communities. We are already working with Welltower on thoughtful strategies to invest in improvements that will benefit communities and the residents they serve. We look forward to working with Lilly and her team to develop and finalize the plans to make these improvements happen.”

“Welltower is delighted to play a role in bringing together these two great operators,” said Shankh Mitra, Welltower CEO and CIO. “Holiday’s unique platform of assets and its skilled and highly respected management team combined with Atria’s proprietary operating model and technology platform will result in an exceptional senior living experience for residents. John and Lilly, and all Atria and Holiday colleagues, share our vision for the significant, multiyear growth opportunity in the seniors housing sector. We are excited to embark on this journey together.”

“Partnering with Atria means many thousands of seniors can benefit from our collective 70-year history of making senior living more accessible and more attractive to older people across the U.S. and Canada,” said Lilly Donohue, Holiday Retirement CEO. “Our associates are fiercely proud of working at Holiday and all they have accomplished to make it a leading company that puts our people and customers first. Now, we look to join forces with the highly respected Atria team, which shares our relentless focus, and to do more together than we could do apart. Together, we can continue to challenge the status quo, pooling our resources and expertise to transform lives and deliver sustainable, long-term value to our employees, customers and investors.”.

“We’re excited to work with not just Welltower, but also with the other high-quality owners of some 150 Holiday communities. We will build the best pure-play management services business in senior living and create value for all the owners of the communities we manage,” Moore said.

About Atria Senior Living
Atria Senior Living is a leading operator of independent living, assisted living, supportive living and memory care communities in more than 200 locations in 28 states and seven Canadian provinces. Atria is the residence of choice for more than 20,000 older adults, and the workplace of choice for more than 12,000 employees. Atria creates vibrant communities where older adults can thrive and participate, know that their contributions are valued, and enjoy access to opportunities and support that help them keep making a positive difference in our world. Glennis Solutions, a subsidiary of Atria Senior Living, is the only fully integrated, cloud-based software suite specifically designed to serve the senior housing industry. For more information about Atria, visit AtriaSeniorLiving.com or follow them on Facebook or Twitter. For career opportunities and more information about working for Atria, visit AtriaCareers.com. For more information on Glennis Solutions, visit GlennisSolutions.com.

About Holiday Retirement
Holiday Retirement is in the business of helping older people live better. Pioneering the concept of independent senior living in 1971, Holiday Retirement has grown to help more than 25,000 residents in 43 states live better. Holiday Retirement is also recognized as a Great Place to Work®. For more information about Holiday Retirement, visit HolidaySeniorLiving.com.

Upon Transaction
The combined business will provide independent living, assisted living, supportive living and memory care in 447 communities in 45 states and seven Canadian provinces. Atria will be the residence of choice for more than 45,000 older people, and the workplace of choice for more than 19,000 employees.

SOURCE Atria Senior Living

Related Links

https://www.atriaseniorliving.com

Related articles

How to 10X Your Retirement Savings While Barely Lifting a Finger

How to 10X Your Retirement Savings While Barely Lifting a Finger

August 10, 2022
Australian government scraps COVIDSafe app, Serena Williams teases her retirement, and a dire new sea ice record — as it happened – ABC News

Australian government scraps COVIDSafe app, Serena Williams teases her retirement, and a dire new sea ice record — as it happened – ABC News

August 10, 2022



Source link

Related Posts

How to 10X Your Retirement Savings While Barely Lifting a Finger

How to 10X Your Retirement Savings While Barely Lifting a Finger

by MtR
August 10, 2022
0

Saving for retirement isn't easy, especially during tough economic times. With a recession potentially on the horizon, many workers are...

Australian government scraps COVIDSafe app, Serena Williams teases her retirement, and a dire new sea ice record — as it happened – ABC News

Australian government scraps COVIDSafe app, Serena Williams teases her retirement, and a dire new sea ice record — as it happened – ABC News

by MtR
August 10, 2022
0

Australian government scraps COVIDSafe app, Serena Williams teases her retirement, and a dire new sea ice record — as it...

Former Muskogee Firefighter Visits Department 41 Years After Retirement

Former Muskogee Firefighter Visits Department 41 Years After Retirement

by MtR
August 9, 2022
0

A 95-year-old former Muskogee firefighter was invited back to the Muskogee fire department today, 41 years after retiring.The trip was...

Serena Williams says ‘countdown’ to retirement has started

Serena Williams says ‘countdown’ to retirement has started

by MtR
August 9, 2022
0

Issued on: 09/08/2022 - 19:48Modified: 09/08/2022 - 19:46 Toronto (Canada) (AFP) – Serena Williams, a 23-time Grand Slam champion and...

Former Detroit Lions offensive lineman announces retirement after 7 seasons

Former Detroit Lions offensive lineman announces retirement after 7 seasons

by MtR
August 9, 2022
0

ALLEN PARK -- Kenny Wiggins, who played on the offensive line for the Detroit Lions across three seasons, announced his...

Load More
  • Trending
  • Comments
  • Latest
Bank of England tells ministers to intervene on digital currency ‘programming’

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021
Tips for checking smoke alarms during daylight saving time

Tips for checking smoke alarms during daylight saving time

March 12, 2022
GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
What will Durham County education bonds pay for? A full list

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0
Investment in overseas real estate surges : The DONG-A ILBO

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022
U.S. inflation CPI report, Wall Street, currencies

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022
Alberta oil production set new record in first half of 2022

Alberta oil production set new record in first half of 2022

August 10, 2022
Industrial Lubricants Market to Reach $71 Billion by 2027.

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022
U.S. inflation CPI report, Wall Street, currencies

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022
Alberta oil production set new record in first half of 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter