Sullivan & Worcester Aids Five Star $52M Senior Living Buy

Law360, New York (October 18, 2011, 4:12 PM EDT) -- Senior living community owner Five Star Quality Care Inc. has bought three assisted- and independent-living complexes in Indiana from a small regional operator for $52 million, broker Marcus & Millichap announced Monday.

The three properties, acquired from Basic American Industries, add nearly 400 privately paid units to Five Star's national network of senior housing communities and cap a summer spending spree during which the company bought six Indiana facilities for $123 million and assumed operations at 20 facilities throughout the Southeast.

“These are high-quality properties with...
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