Discovery Senior Living has acquired 16 senior living communities across Texas, North Carolina and New Mexico. The move has resulted in the creation and launch of Morada Senior Living, the company’s newest division and regional brand.
Discovery Senior Living, in partnership with White Oak Healthcare REIT, executed the purchase and commenced operations of the portfolio on January 21. Morada Senior Living will be based in Dallas, Texas and operated as a wholly-owned subsidiary of Discovery Senior Living, with a management team lead by a division president.
“We are extremely enthusiastic to execute the purchase of this portfolio with our long-standing partner, White Oak Healthcare REIT. The portfolio of communities, on-site leaders and teams of dedicated professionals are a perfect fit for our Morada Senior Living brand, and the acquisition aligns very well with our strategy of growth by operating a portfolio of both national and regionally-focused brands with dedicated management teams,” said Richard J. Hutchinson, CEO of Discovery Senior Living.