Bonita Springs, Florida--(Newsfile Corp. - July 13, 2026) - Discovery Senior Living ("Discovery" or the "Company"), and its affiliated companies, one of the largest and most trusted seniors housing operators in the U.S., today announced it has retained management of a 36-community assisted living portfolio following multi-party transactions between two long-standing capital providers on the Discovery platform, Discovery and certain principals of the Company.
Discovery played a central role in the transaction, identifying the parties, facilitating the off-market process, and helping structure an economically aligned framework designed to meet the strategic objectives of all stakeholders while preserving operational continuity across the portfolio.
As part of the transaction, 13 communities acquired by National Healthcare Properties, Inc. ("NHP") (NASDAQ: NHP), consist of 592 assisted living units across eight states. The acquisition was completed under a RIDEA joint venture structure with Discovery. Under the structure, NHP owns approximately 98.5% of the joint venture. Discovery continues to operate the communities following its recent closing.
The remaining 23 communities were acquired by HF Acquisitions Holding, LLC ("HFAH"), a joint venture between certain principals of Discovery and a long-term capital provider of Discovery. This portion of the transaction includes 20 communities currently managed by Discovery, as well as the addition of 3 new communities not currently under Discovery management, totaling approximately 883 units. The venture includes a combination of common and preferred equity interests and a promoted return structure.
In connection with the closing of the transactions, Discovery has entered into new long-term management agreements with both ownership groups through its regional management companies. These agreements are structured to align Discovery with ownership performance through a combination of base management fees and performance-based incentives.
"Discovery is proud to have leveraged our scale, operating platform and deep relationships across the capital landscape to facilitate a highly creative, off-market transaction between two long-standing partners," said Richard Hutchinson, Chief Executive Officer of Discovery Senior Living.
"Acting as the connective tissue between ownership groups while preserving continuity of operations and sustaining performance momentum is a hallmark of Discovery's platform. This transaction underscores our role as a strategic partner to capital, as well as an operator, and we look forward to continuing to drive occupancy, RevPOR and NOI growth across the portfolio."
"This acquisition marks an important milestone for NHP as we continue expanding our exposure to needs-based, private-pay senior housing through high-quality SHOP investments," said Michael Anderson, Chief Executive Officer and President of NHP. "The transaction highlights our ability to source attractive, off-market opportunities through strong partnerships with leading operators like Discovery."
As part of the transaction, NHP also received a right of first refusal and purchase option on an additional 13 senior living communities owned by HFAH, totaling approximately 500 assisted living units currently managed by Discovery, further aligning the parties for future growth.
Discovery continues to serve as a trusted operating partner to leading institutional owners, REITs and private capital groups, leveraging its national operating platform and regional management structure to deliver operational excellence and long-term asset value creation.
About National Healthcare Properties, Inc.
National Healthcare Properties, Inc. (NASDAQ: NHP) is a self-managed real estate investment trust focused on acquiring, owning and investing in a diversified portfolio of healthcare real estate, with an emphasis on providing senior housing to serve a growing elderly population in the United States. Additional information about the Company can be found on its website at nhpreit.com.
About Discovery Senior Living
Discovery Senior Living is the largest privately held operator in U.S. with a growing portfolio approaching 47,000 units across 420-plus communities in 40 states. The Company, and ~25,000 team members, is a recognized industry leader for performance, innovation and customized lifestyle experiences. Discovery proudly ranks #1 in Customer Satisfaction Among Assisted Living and Memory Care Communities in the J.D. Power 2025 U.S. Senior Living Satisfaction Study achieving #1 in Customer Satisfaction among Assisted Living & Memory
Care Communities while also ranking #1 in Community Staff, Resident Activities, Resident Apartment/Living Unit, and Community Buildings & Grounds and #2 in Customer Satisfaction among Independent Living Communities. Discovery's family of companies includes Discovery Management Group, Integral Senior Living, Provincial Senior Living, Morada Senior Living, Summerhouse Senior Living, Seaton Senior Living, TerraBella Senior Living, LakeHouse Senior Living, Arvum Senior Living, Discovery Design Concepts, STAT Marketing, and Discovery at Home. Led by its award-winning management team, Discovery has been developing, building, marketing, and managing diverse senior-living communities across the United States for three decades. For the fifth consecutive year, Discovery Senior Living was again certified a Great Place to Work - May 2026 - May 2027.
For Media and Investor Inquiries contact:
Laura Lepore, Corporate and Investor Communications
llepore@discoveryseniorliving.com
www.Discoveryseniorliving.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305023
Source: Discovery Senior Living
