M&A Deal Summary

Diversified Healthcare Trust and AlerisLife Acquire Constellation Health Services

On October 25, 2002, Diversified Healthcare Trust and AlerisLife acquired real estate company Constellation Health Services for 77M USD

Acquisition Highlights
  • This is Diversified Healthcare Trust’s 3rd and AlerisLife’s 2nd transaction in the Real Estate sector.
  • This is Diversified Healthcare Trust’s 4th and AlerisLife’s 3rd largest (disclosed) transaction.
  • This is Diversified Healthcare Trust’s 3rd and AlerisLife’s 2nd transaction in the United States.
  • This is Diversified Healthcare Trust’s 1st and AlerisLife’s 1st transaction in Maryland.

M&A Deal Summary

Date 2002-10-25
Target Constellation Health Services
Sector Real Estate
Buyer(s) Diversified Healthcare Trust
AlerisLife
Deal Type Add-on Acquisition
Deal Value 77M USD

Target

Constellation Health Services

Baltimore, Maryland, United States
Constellation Health consist of 15 senior living communities with 1,016 independent living apartments and assisted living units in approximately 678,964 sq. ft. of building space. These 15 communities are located in four states: Connecticut (1 community with 58 living units); Maryland (11 communities with 719 living units); North Carolina (1 community with 89 living units); and Virginia (2 communities with 150 living units).

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Buyer(S) 2

Buyer

Diversified Healthcare Trust

Newton, Massachusetts, United States

Category Company
Sector Real Estate
Revenue 1.4B USD (2023)
DESCRIPTION

Diversified Healthcare Trust is a healthcare real estate investment trust, or REIT. which owns independent living and assisted living communities, continuing care retirement communities, nursing homes, wellness centers and medical office, clinic and biotech laboratory buildings located throughout the United States. Diversified Healthcare Trust is based in Newton, Massachusetts.


DEAL STATS #
Overall 3 of 6
Sector (Real Estate) 3 of 6
Type (Add-on Acquisition) 2 of 5
State (Maryland) 1 of 1
Country (United States) 3 of 6
Year (2002) 2 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-25 Overland Park Living Community

Overland Park,, Kansas, United States

Overland Park Living Community includes 141 independent living apartments in approximately 123,375 sq. ft. of building space.This community was 89% occupied and 100% of the revenues from operations are paid by residents from private resources.

Buy $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 5 Living Properties

United States

The 5 communities primarily offer independent and assisted living services which are paid by residents from their private resources.The five communities have a total of 783 units.The 5 communities are located in 5 states.

Buy $62M
Buyer

AlerisLife

Newton, Massachusetts, United States

Category Company
Founded 2001
Sector Healthcare Services
Employees6,800
Revenue 935M USD (2021)
DESCRIPTION

AlerisLife is a provider of senior living communities. AlerisLife was founded in 2001 and is based in Newton, Massachusetts.


DEAL STATS #
Overall 2 of 6
Sector (Real Estate) 2 of 2
Type (Add-on Acquisition) 2 of 6
State (Maryland) 1 of 1
Country (United States) 2 of 6
Year (2002) 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-25 Overland Park Living Community

Overland Park,, Kansas, United States

Overland Park Living Community includes 141 independent living apartments in approximately 123,375 sq. ft. of building space.This community was 89% occupied and 100% of the revenues from operations are paid by residents from private resources.

Sell $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-11 LifeTrust America

Nashville, Tennessee, United States

LifeTrust America is a senior living operating company, which owns, leases and operates 47 assisted living communities with 2,636 units which offer independent living apartments and assisted living accommodations, including specialized care for Alzheimer residents, throughout the Southeast. In addition, LTA manages 12 assisted living facilities for third- party owners.

Buy $211M