DALLAS–(BUSINESS WIRE)–Senior Quality Lifestyles Corporation (SQLC), a nationally-recognized nonprofit organization that develops and manages resort-style life care retirement communities, is in discussions with Cornerstone Affiliates to purchase Seniority, Inc., a leader in senior housing marketing and sales services, senior living management and development consulting.
“The decision was made after our board of directors and executive team determined that Seniority did not fit the organization’s new strategic direction. We have concluded that Seniority will thrive under different ownership.”
SQLC currently owns and operates five communities in Texas and one in Indiana. Seniority manages seven communities in California and Oklahoma, and has five additional communities under development.
“The purchase of Seniority, Inc., will allow us to add more communities to our portfolio while expanding the services we can offer to our existing communities and others across the country,” said Stan Waterhouse, president and CEO of SQLC. “We are currently involved in negotiations with Cornerstone Affiliates and anticipate closing the transaction in the near future. We look forward to making Seniority a part of the SQLC family.”
Seniority, Inc., was launched in 1997 as a wholly-owned subsidiary of ABHOW, American Baptist Homes of the West, which is part of Cornerstone Affiliates.
“We underwent a lengthy review before entering into discussions with SQLC,” said John H. Cochrane III, president and CEO of Cornerstone Affiliates. “The decision was made after our board of directors and executive team determined that Seniority did not fit the organization’s new strategic direction. We have concluded that Seniority will thrive under different ownership.”
SQLC is expected to finalize the purchase of Seniority, Inc., by the end of the year.
For media inquiries related to SQLC, please contact Amy Jones at (214) 378-7970 ext. 302 or [email protected]. For media inquiries related to Cornerstone Affiliates, contact Dan Hutson at (818) 844-2710 or [email protected].
Senior Quality Lifestyles Corporation (SQLC) is a nationally-recognized nonprofit organization that sponsors and operates the life care communities of Edgemere (Dallas), The Buckingham (Houston), Querencia at Barton Creek (Austin), Mirador (Corpus Christi), The Stayton at Museum Way (Fort Worth), and The Barrington of Carmel (Indianapolis). For further information, visit www.sqlc.org, or call (469) 916-8958.
ABOUT CORNERSTONE AFFILIATES
Cornerstone Affiliates and its family of companies, including ABHOW, be.group and Beacon Communities, provide services and housing to nearly 10,000 older adults in 83 communities throughout California, Arizona, Nevada, Washington and Idaho. For further information, visit www.cornerstoneaffiliates.com or call (818) 247-0420.
The Point Group
Amy Jones, 214-378-7970 ext. 302
(c)2016 Business Wire, Inc. – All rights reserved.