Kandu Capital, LLC Acquires New Assisted Living Community in Ohio Out of Sunwest Bankruptcy
Kandu Capital, LLC expands its senior housing portfolio with the acquisition of the Northwesterly Assisted Living Community in Lakewood, Ohio
Online, January 17, 2010 (Newswire.com) - Birmingham, MI - Kandu Capital, LLC, along with its operating company, Bloomfield Senior Living, announced the acquisition of a new senior living community in Ohio on January 15, 2010. This is Kandu's second transaction this month as it continues to expand its portfolio of independent and assisted living, memory care, skilled nursing and mental health facilities throughout the United States.
The Northwesterly Assisted Living Community, located in Lakewood, Ohio, was built in 1988 and consists of 55,000 square feet sitting on 1-acre. The Northwesterly is a 91-unit assisted living community. Tony Kantor, Director of Finance, stated, "we have allocated significant resources to enhance the community. With these upgrades, the Northwesterly will be the leading community in the area." Bradley Dubin, Director of Acquisitions, added, "Lakewood is a mature, stable, inviting community with a rich history and promising future, which offers both the amenities of metropolitan living and the intimacy of a small town. We are thrilled to bring over 40 years of experience and success into the market, and we will continue to pursue other opportunities in Ohio aggressively."
Sunwest Management, Inc. previously owned the Northwesterly. Kandu, leveraging its senior management's sophisticated investing experience, successfully acquired this asset out of a complex bankruptcy 363-sale. Kandu closed the transaction all cash. This acquisition follows Kandu's integrated approach of selectively acquiring and managing well-located, value-add, independent living, assisted living and memory care communities throughout the Midwest. Kandu intends to acquire additional senior living communities in this geographic region.
ABOUT KANDU CAPITAL, LLC:
Kandu is a private, family operated investment company specializing in health care acquisition and management. Kandu presently owns and operates a diversified, growing portfolio of senior housing communities in select markets throughout the United States. Kandu's strong professional relationships, consistently maintained high occupancy rates and revolutionized health care programs have become the hallmarks of its success over the past 4 decades. For additional information, please visit: www.kanducapital.com / www.bloomfieldseniorliving.com.
For further information, please contact:
Bradley E. Dubin
Director of Acquisitions
Direct: (917) 825-3537
bdubin@kanducapital.com