Generational Equity Announces Sale Of Stonehaven Assisted Living To Cornerstone Healthcare Group
DALLAS–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the acquisition of its client, Stonehaven Assisted Living, of Maumelle, AR, to CHG Senior Living, a division of Cornerstone Health Group. The acquisition closed November 1, 2016. Details were not disclosed.
Stonehaven Assisted Living, located 10 miles outside Little Rock in Maumelle, AR, is a licensed Level II community with 80 beds and 24-hour licensed nursing care. All residents are private pay and no Medicare/Medicaid residents are accepted.
Cornerstone Healthcare Group, based in Dallas, TX, operates a portfolio of senior housing and other post-acute facilities. Cornerstone’s senior living division focuses on providing seniors with a high-quality continuum of care. The company is owned by funds managed by Highland Capital Management, L.P., an alternative asset manager with approximately $16 billion of assets under management.
Michael Goss, Managing Director of Mergers and Acquisitions for Generational Equity, and trusted affiliate partner, Bill Evans, led the deal to a successful close, supported by Generational Equity’s Julie Sandoval, Senior Vice President, Mergers and Acquisitions.
“This was a transaction that achieved the desired exit outcome for our client and facilitated Cornerstone’s continued growth of its senior living division and expansion of care offerings to seniors in the Little Rock Market,” said Michael Goss.