Superior Living Foundation, Inc., a Maryland-based nonprofit, has completed the $250.2 million acquisition of 14 skilled nursing facilities in eastern Texas, expanding its commitment to affordable healthcare and housing in this high-growth market.
BETHESDA, Md., March 20, 2025 /PRNewswire-PRWeb/ -- Superior Living Foundation, Inc., a Maryland-based nonstock, nonprofit organization dedicated to providing affordable inpatient and outpatient healthcare, residential, and housing services to vulnerable populations, has completed the acquisition of 14 skilled nursing facilities in eastern Texas. The transaction, valued at approximately $250.2 million, was finalized on Tuesday, March 11, 2025.
The seller, a private owner-operator, will continue managing the facilities under the terms of the agreement. The acquisition was financed through a public offering of approximately $247.3 million in tax-exempt bonds together with private debt that was purchased by the seller. Oppenheimer & Co. Inc. served as sole bookrunner for the bond sale.
"This acquisition represents a significant step forward in expanding our mission-driven approach to healthcare and residential services," said Moiz Doriwala, President of Superior Living Foundation, Inc. "By maintaining the current owner-operator as our manager, we expect the high quality and levels of service to continue while establishing a strong presence in the growing Texas market."
Superior Living Foundation, Inc. was represented by Foley & Lardner LLP, while Marathon Capital Strategies, LLC served as financial advisor to the organization's Board of Directors.
About Superior Living Foundation, Inc.
Superior Living Foundation, Inc. is a Maryland-based 501(c)(3) nonprofit organization dedicated to providing affordable inpatient and outpatient healthcare, residential, and housing services to vulnerable populations. Founded in 2017, the organization offers a comprehensive range of services, including skilled nursing, assisted living, memory care, psychiatric and behavioral healthcare, and addiction treatment. By integrating healthcare and residential support, Superior Living Foundation ensures high-quality, holistic care solutions that address the diverse needs of individuals across all age groups.
Media Contact
Janet Davis, Meridian Senior Living, 1 7036748310, [email protected], https://www.meridiansenior.com
SOURCE Superior Living Foundation, Inc.
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