Reisterstown, Maryland-based Healthcare Transactions Group, is pleased to announce that it arranged the sale of an assisted living facility known as Weinberg Park, a not-for-profit, Jewish Assisted Living Facility in Baltimore, Maryland, situated in the epicenter of an Orthodox Jewish community. Weinberg Park was affiliated with The Harry and Jeanette Weinberg Foundation, Baltimore’s largest charitable foundation and Comprehensive Housing Assistance (CHAI), to offer affordable assisted living for low-income elderly. The new owner will run Weinberg Park as a market-rate, for-profit assisted living operation.
Healthcare Transactions Group conducted a competitive offering process for its client to find and select a reputable buyer with a strong track record providing high-quality assisted living and committed to serving the Jewish elderly. The buyer was a Lakewood, NJ-based long-term care owner and operator whose families have 50 years of deep roots and experience in assisted living in the New York metropolitan area; doing “assisted living when assisted living wasn’t cool.” The new operator will enhance the facility’s kosher meal service and religious life, and strengthen its community involvement.
Mark Davis, President and Founder of Healthcare Transactions Group, served as the seller’s exclusive Mergers and Acquisitions Advisor throughout the process. The transaction closed on August 20, 2021. Price and other details of the transaction are confidential.
This sale marks Healthcare Transactions Group’s 29th long-term care facility sold in Maryland. Since 1996, Healthcare Transactions Group has been a recognized national leader in post-acute healthcare mergers & acquisitions from coast-to-coast, having closed over $2.7 billion in transactions in 36 states and in the District of Columbia, including the sale of assisted living facilities.