Discovery Senior Living Assumes Management for 19 Former Elmcroft Communities; Announces New Subsidiary Management Company & Regional Brands

The move, alongside financial partner Ventas, results in the establishment of TerraBella as a formal, regionally-focused, wholly-owned subsidiary management company of Discovery Senior Living and sees the launch of SummerHouse and Seaton as the two newest additions to the company's growing regional brand portfolio.

TerraBella, SummerHouse and Seaton, by Discovery Senior Living

Discovery Senior Living ("Discovery") and Ventas have announced the rebranding of 19 former Elmcroft Senior Living communities, which have been reallocated across the Discovery national and regional brand companies/portfolios. Management functions for the communities, which are located in multiple states, were transferred from prior operator Eclipse to Discovery, while Ventas will retain ownership of each.

The move results in the TerraBella regional brand name's transformation into a second, formal, regionally-focused, wholly-owned subsidiary management company for the Discovery enterprise, and also gives rise to two newly created regional brands, named SummerHouse and Seaton. Of the 19 communities in total, 13 were rebranded under the TerraBella marque, with SummerHouse beginning as a three-community, Alabama-focused portfolio, and Seaton consisting of two Mid-Atlantic communities. The remaining community, in Albuquerque, New Mexico, will be managed by Discovery's Texas-based Morada Senior Living regional management company.

TerraBella has now expanded an already established footprint in the Carolinas and Georgia and will be operated in Discovery's innovative National and Regional Brand Management construct. Dave Adams, who has been serving the Discovery organization in an executive advisory capacity and focusing on the integration of new acquisitions, has been announced as the Division President of TerraBella Senior Living. Adams will now oversee the TerraBella division's leadership teams with additional support provided through the parent company's Florida headquarters.

"We are thrilled to expand our partnership with Ventas, and have the opportunity to utilize our unique, locally-focused, regional brand management company structure to create sustained success in these communities," said Richard J. Hutchinson, CEO of Discovery Senior Living. "This is an exciting milestone for our organization, and an expansion of our partnership with one of the pre-eminent owners of seniors housing assets in our industry, which very much aligns with our strategy of achieving growth by operating both national and regionally-focused brands with dedicated senior management teams that are highly supported by state-of-the-art home office resources," added Hutchinson.

Discovery Senior Living currently operates a portfolio of more than 90 communities, which together encompass more than 13,000 units.

About Discovery Senior Living

Discovery Senior Living is a family of companies that includes Discovery Management Group, Morada Senior Living, TerraBella Senior Living, Discovery Development Group, Discovery Design Concepts, Discovery Marketing Group, and Discovery At Home, a Medicare-certified home healthcare company. With almost three decades of experience, the award-winning management group has been developing, building, marketing, and operating upscale senior-living communities across the United States. By leveraging its innovative "Experiential Living" philosophy across a growing portfolio of more than 13,000 existing homes or homes under development, Discovery Senior Living is a recognized industry leader for lifestyle customization and, today, ranks among the 10 largest U.S. senior living operators and providers.

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Source: Discovery Senior Living