Kauhale Otsego to Lead Middle-Market in Senior Living Accommodations
WESTERVILLE, Ohio, Aug. 5, 2022 /PRNewswire/ — Kauhale Health ("Kauhale") has acquired assisted living and memory care community Vicinia Gardens of Otsego (Otsego, MI). This marks Kauhale’s first acquisition and its second step in an aggressive regional senior living investment and management strategy, following Kauhale’s appointment as manager of Continuing Care Retirement Community Vista Grande Villa (Jackson, MI) in March.
Vicinia Gardens of Otsego will be rebranded as Kauhale Otsego. Situated between Kalamazoo, Battle Creek, and Grand Rapids, the 33,465-square foot property sits on 5.9 acres and was constructed in 2016. The facility offers 52 private suites, as well as a dining area, beauty salon, community room, gardens, and an infinity walking path.
Kauhale Healthcare Real Estate, an affiliate of Kauhale, sponsored the acquisition. Debt was placed by strategic lenders Locust Point Capital and Coastal States Bank. A subordinate of Kauhale Health will operate the community and Kauhale Healthcare Management, its management company, will manage.
"This community is at the heart of what we want to be," said Blake F. Church, Member and Managing Director of Kauhale Health. "It’s fresh and viable, and delivers best-in-market senior living accommodations and care for the middle market. This is a meaningful step in the execution of our self-directed investment and management thesis. We’re determined to be constructive in the interim, against other people’s odds, by sourcing and closing on newer, well-constructed, and well-appointed single assets that are a low priority for institutional investors."
About Kauhale Healthcare Management
Founded in 2021, Kauhale Healthcare Management (kauhalehealth.com) is a Midwest-based firm led by five principals with a combined 130 years of experience in senior living/integrated post-acute care operations, acquisitions, operational transfers, and development. Our team has experience across 20 U.S. states, including management responsibilities for more than 300 standalone Independent Living (IL), Assisted Living (AL), Memory Care (MC), Skilled Nursing Facility (SNF), and Continuing Care Retirement Community (CCRC) properties.
About Coastal States Bank
Founded in Hilton Head Island in 2004, Coastal States Bank (coastalstatesbank.com) believes in relationship-based banking. With more than $1.5 billion in assets, CSB’s community banking presence spans from the Lowcountry of South Carolina (Hilton Head Island and Bluffton) to Savannah, Atlanta, and North Georgia (Cumming and Dawsonville). In addition, CSB serves communities nationwide through GGL, Senior Housing, and MBF lines of business.
SOURCE Kauhale Health