LCS acquires Danberry at Inverness retirement community
FROM STAFF REPORTS
HOOVER — Life Care Services, a national developer and manager of retirement communities, recently announced it has acquired Danberry at Inverness in Hoover.
Danberry at Inverness, a rental-based community, has 160 independent living and 72 assisted living residences. LCS’ joint venture with an affiliate of Walton Street Capital, LLC, a Chicago-based real estate firm, closed March 31, according to a news release. Terms of the agreement were not disclosed.
Ed Kenny, president and CEO of LCS, said the company acquired Danberry at Inverness to complement the company’s growing rental, assisted living and memory care portfolio. LCS, based in Des Moines, Iowa, serves more than 33,000 residents in 127 communities in 32 states and Washington, D.C. The company also offers home health care and companion services, insurance and national purchasing consulting services.
“We continue to move forward with our growth and diversification strategies, and this is another step in that process,” Kenny said. “Danberry at Inverness is a beautiful senior living community that is performing well in the market. It is a great addition to our equity portfolio.”
Danberry at Inverness was selected as one of the nation’s top communities in 2013 by SeniorAdvisor.com. It is the second acquisition this year by LCS. The company acquired Oregon-based Encore Senior Living in February.