Inspirit Senior Living Announces Acquisition Of Two Tennessee Facilities
February 1, 2018
MURFREESBORO, TN–Inspirit Senior Living today announced that it has acquired two seniors housing facilities previously owned and operated by Sunnington LLC and Sunnington II, LLC.
The Rutherford Assisted Living and Rutherford Memory Care (formerly Sunnington Assisted Living and Sunnington Memory Care, respectively) mark the fifth and sixth acquisitions for Virginia-headquartered Inspirit, a new venture headed by industry veteran David McHarg. Negotiations for the sellers were handled by local industry leader Suresh C. Saraswat, MD, who is president and CEO of both Sunnington corporations.
Inspirit’s business model focuses on identifying and acquiring well-respected, stand-alone facilities and incorporating them into a regional network that can capture economies of scale. In the past year, Inspirit has acquired properties in the greater Memphis area as well as in Virginia and Pennsylvania. Like those earlier acquisitions, Inspirit plans to renovate its newly acquired Murfreesboro properties. Purchase price and other details of the private transaction were not disclosed.
“Inspirit is proud to add The Rutherford properties to our steadily growing family of communities,” said Inspirit CEO David McHarg. “We look forward to working with the local teams to make them even better places for Tennessee’s seniors to call home.”
McHarg founded the company in 2015 after retiring as president and chief operating officer of Greenfield Senior Living, a leading network of assisted living communities. Under McHarg’s leadership, Greenfield grew from two properties to more than 20 in six states.
Designed by award-winning architect George Berardi, the Rutherford’s 68-unit assisted living facility sits on five acres; the 26-unit memory care facility is across the street. Inspirit is currently in negotiations to acquire additional properties in the mid-Atlantic region.