DES MOINES, Iowa—LCS announced the purchase of Timber Ridge at Talus, a senior living community located in Issaquah, Washington. LCS and National Health Investors formed a joint venture to acquire the property from Westminster Capital and LCS. The transaction closed on Jan. 31, 2020.
Life Care Services, an LCS Company, will remain the operator under the new ownership.
“We’re pleased to join NHI in purchasing this premier senior living community,” says Dan Lahey,senior vice president and managing director of investments. “This partnership with NHI demonstrates our continued focus to invest in thriving senior living communities.”
“Our leadership and community teams will continue to focus on the services that have resulted in Life Care Services being ranked highest in customer satisfaction in the J.D. Power 2019 U.S. Senior Living Study,” says Scott Doherty, vice president and senior director of operations management. He noted the transition will be seamless to residents and the current leadership team will continue to oversee operations.
Timber Ridge at Talus was built in 2008. In 2017, an extensive expansion project, financed by NHI, was completed. The community, consisting of 401 units, is located east of Seattle and offers independent living, assisted living, skilled nursing and memory care.
About Life Care Services®
Life Care Services, An LCS Company, has the experience required to boost community financial performance, increase occupancy, and develop new lifestyle and health initiatives to meet consumer expectations and help communities thrive. Ranked highest in customer satisfaction among senior living communities in the J.D. Power study, Life Care Services is the nation’s second-largest operator of senior living communities and has expertise in the management of both continuing care/life plan and rental communities. From independent living to assisted living, skilled nursing to memory care, at Life Care Services, Experience Is Everything™. For more information, visit lifecareservicesLCS.com.
About NHI
Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI’s portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals. For more information, visit nhireit.com.
