Sacramento, CA-based Cogir Management has acquired Scottsdale, AZ-based Cadence Living.The merged company will oversee almost 8,000 independent living, assisted living and memory care units at 60 communities across nine states, making it one of the 25 largest senior living operators in the United States based on the current ASHA 50 list compiled by the American Seniors Housing Association and the most recent list of largest senior living companies compiled by Argentum.
“As both companies were growing, both had challenges and skill sets that seemed to fill each other’s gaps perfectly,” Cogir Management USA CEO David Eskenazy said in a statement. “But more than that, as we both learned more about each other’s organizations, it became clear that philosophically we also shared so much in common culturally in the way we feel about our team members and what we believe our residents should experience.”
Cogir Management USA is the US based subsidiary for Cogir Real Estate. The US division was launched in 2018 with the acquisition of 12 senior housing communities in Washington and California. The management division has grown to 25 operating communities, with others under development.
Cadence was founded in Scottsdale, AZ in 2017 and operatse 35 communities in nine states, with several additional senior living communities expected to come on board through development in the coming months.
“What started out as a casual conversation between Dave Eskenazy and I evolved into what we both felt was an ideal solution for both companies,” Cadence CEO Rob Leinbach said. “The more we talked about it and the more we thought about it, the better it fit. We believe that the combined company will have the expertise, culture and foundation to be an industry leader in our space for years to come.”
David Eskenazy will be CEO of the new company, with Leinbach becoming senior vice president of strategic partnerships. Cadence Principal Eric Gruber will become senior vice president real estate.
“Rob and Eric have built an incredible organization, and as Dave and I met many of the team members and visited communities together, it became clear to us that this was a terrific match. We are thrilled to join forces with them,” said Cogir Senior Services CEO Mathieu Duguay.
Cogir will continue to remain headquartered in Sacramento, with additional offices in Seattle and Scottsdale. All of the senior living communities under the new umbrella will continue to operate under their existing names.