Hawthorn Retirement Group, a Vancouver-based firm that owns, develops and operates senior housing communities, is being acquired by Columbia Pacific Advisors, an investment group from Seattle.
Terms of the deal, which is expected to close this summer, were not disclosed.
The acquisition will include Hawthorn’s management and construction businesses, in addition to its real estate. The Vancouver firm currently operates a total of 55 communities across North America, with another 24 communities under construction or in pre-development. Hawthorn has one senior housing community in Washington (Puyallup).
The principal owners of Hawthorn Retirement Group are Bart and Brad Colson, Norm Brenden and Pat Kennedy. The group has previously worked with Columbia Pacific Advisors Founder, Dan Baty.
“We couldn’t be happier to continue our work with Dan and the entire team at Columbia Pacific Advisors,” said Pat Kennedy, the CEO of Hawthorn, who will stay on as a Hawthorn senior executive. “Dan understands who we are and how we operate, and collectively the CPA and Hawthorn teams have deep experience in the industry. We look forward to working with CPA, one of the leaders in our industry, and helping Hawthorn continue to grow.”
Over the past ten years, funds managed by Columbia Pacific Advisors have developed or acquired ownership interests in more than 300 senior living communities, comprising more than 25,000 units.
“We have a deep appreciation for Hawthorn’s outstanding company culture and we look forward to supporting the existing leadership in the next phase of the company,” said Baty.
Hawthorn Retirement Group’s corporate office is located at 9310 NE Vancouver Mall Drive, #200, in Vancouver.