Columbia Pacific Advisors, whose founder Dan Baty built the Emeritus assisted living chain, has reached a deal to acquire Hawthorn Retirement Group, which runs 55 senior communities and is building 24 more.
Seattle-based investment group Columbia Pacific Advisors has reached a deal to acquire Hawthorn Retirement Group, a Vancouver, Wash.-based firm that owns and operates senior housing communities.
Terms of the deal, expected to close later this summer, were not disclosed.
Columbia Pacific, whose management team has extensive experience in the senior housing sector, will be acquiring 55 currently existing Hawthorn communities as well as 24 more under development, according to the investment firm. It will also be taking on Hawthorn’s management and construction businesses.