Today we announced that Health Care REIT has agreed to purchase our interest in 38 Merrill Gardens communities. When the deal is finalized in 60 days, Seattle based Emeritus Senior Living will be managing these communities. Team members at the communities that are being sold will become Emeritus employees at that time. Emeritus assures us that they do not plan to make any major changes to leadership or personnel at the community level.
We understand that this is a major change for Merrill Gardens. Throughout our 20 year history, we have been approached many times by operators wishing to execute a purchase. After careful consideration, we have determined that this is the right time to make this change. While it is extremely difficult to say goodbye to the many outstanding professionals at these communities, we believe that Emeritus is a quality operator and the values and leadership at their company are in sync with ours. Over the next two months we will be working closely with the Emeritus team to ensure a seamless transition for all residents and team members.
Merrill Gardens will now become a smaller company with 26 operating and development communities in six states. We want to emphasize that Merrill Gardens remains a family owned private company with a deep commitment to senior living. As a result of this transaction, we will become a smaller, more nimble company. We plan to maintain our industry leadership position by embarking on initiatives that will strengthen our operations. We will also be placing increased focus on the professional growth of team members at your community. We are very excited about the future at Merrill Gardens for all our residents and team members!Share on Facebook