Irvine, CALIF. (May 25, 2018) — MBK Senior Living is pleased to announce that it has entered into a definitive agreement to acquire senior living communities and their operations from West Living LLC. The communities to be acquired consist of nine independent, assisted living and memory care communities totaling 1,174 units in California, Arizona and Washington, with an acquisition cost of $382 million. The sale is expected to close this summer.
MBK Senior Living, a U.S.-based wholly owned subsidiary of Mitsui & Co., Ltd., currently owns and manages 24 senior living communities consisting of approximately 2,600 units in California, Oregon, Washington, Arizona, Utah, and Colorado. The acquisition of WESTliving brings MBK’s total portfolio to 33 communities and approximately 3,800 units.
“This is an exciting time of growth of MBK Senior Living with the acquisition of the nine West Living communities and we are thrilled by all the encouragement and congratulations we have received from our industry peers,” said Jeff Fischer, President of MBK Senior Living. “The West Living communities share MBK’s passion for excellence, high standards of care for our residents, and providing a great culture for our team members. We welcome them to the MBK family.”
Following the sale of its communities to MBK, WESTlivng will be closing down its business activities and operation. In speaking about his time leading WESTliving, CEO John Rimbach said, “I am humbled and honored to have had the opportunity to work closely with the WESTliving team in demonstrating their talents, giving of themselves, and enhancing our residents’ enjoyment of life and wellness to its fullest. I am grateful and proud of what has been accomplished together.”
“MBK has an excellent reputation for caring and service. We expect our residents, families and staff at each of our communities to find the transition smooth and the culture and standards offered by MBK consistent with those WESTliving has set over the years,” said Rimbach.
About MBK Senior Living
Headquartered in Irvine, CA, MBK Senior Living, LLC owns or manages retirement communities throughout the Western United States that offer Independent Living, Assisted Living, and Memory Care programs as well as short-term stays. In addition to personalized care, outstanding amenities and services, MBK Senior Living’s residents enjoy MBK’s signature programs including MBKuisine dining program, MBKonnections program to engage the mind, body and soul. The company is actively involved in the acquisition, development and third-party management of high-quality senior living communities. For more information MBK Senior Living communities visit us online at www.mbkseniorliving.com.