Oak Crest sells four senior campuses
American House acquires communities as part of expansion plan.
A Bloomfield Hills-based senior living community has acquired four more facilities in West Michigan.
American House Senior Living Communities recently announced it has acquired Oak Crest Communities. With this new acquisition, American House, which previously had only one West Michigan community in Grand Rapids, will now take over all four of the Oak Crest campuses in Holland, Spring Lake, Jenison and Kentwood.
“American House is well-known for the exceptional care we provide for the residents who choose to make their home with us,” said Rob Gillette, American House COO. “Similarly, Oak Crest has built four campuses devoted to caring for seniors, and we are excited to complement their reputation with the American House brand of care.”
American House owns 37 communities in Michigan, with six more under development and another six under development in Florida, said Dale Watchowski, president and CEO of American House Senior Living Communities.
“The growth strategy of American House includes expansion outside of southeast Michigan into markets throughout the Midwest and Florida. To facilitate this growth, we recently acquired communities in northern Michigan, as well as a community in Grand Rapids earlier this year,” he said.
“The acquisition of Oak Crest fits well within our strategic growth plan to diversify outside southeast Michigan.”
The four Oak Crest sites are comprised of approximately 450,000 square feet and 532 living units. The campuses will be re-branded as American House communities. They will be American House Holland, which features 162 units and seven buildings; American House Spring Lake, which has 118 apartments and seven buildings; American House Jenison, with 192 apartments in nine buildings; and American House Kentwood, with 60 apartments in two buildings.
The acquisition included the purchase of the business, with all Oak Crest employees being offered employment, Watchowski said. Current residents in all of the communities will continue to make their home there.
The purchase price of the acquisition was not disclosed.
“Our decision to move in this direction was done thoughtfully and with careful consideration to the long term,” said Chuck Schipper, president of Oak Crest. “American House has a similar history and commitment to senior care as our family has had over the last 35 years.”
The rapidly aging population points to a demographic shift where the demand for senior housing is strong, particularly in West Michigan, Watchowski said.
“What attracted us to Oak Crest was that all four communities were very well managed in all areas. We anticipate business as usual,” he said. “The four campuses will be rebranded as American House communities once the transition is complete. We’re anticipating that will happen shortly after the new year.”