Adava Care has entered the senior living industry with a recent acquisition of a 12-community portfolio in Wisconsin. The company is looking to establish itself further in the space, with plans for future growth.
The acquisition, which took place on May 1, included 279 units of assisted living and memory care. This addition expands Adava Care’s footprint beyond its initial two behavioral health centers in Milwaukee, marking the beginning of its expansion into senior living.
Owner Kurosh Dejgosha sees the regional footprint of the portfolio as attractive, with most communities located in the Milwaukee and Green Bay metropolitan areas. The company plans to offer senior housing at the lower end of the resident rate spectrum, combining Wisconsin’s Family Care Medicaid program with private-pay rates.
Currently, the focus is on stabilizing the acquired communities, which were described as “underperforming” during the selling process. The company is onboarding new employees and prioritizing hiring administrative staff to address the properties’ needs.
In the future, Adava Care may target continuing care retirement communities and properties with a full continuum of care. Expansion outside of Wisconsin is also a possibility, once the new acquisition is running smoothly.
Dejgosha’s goal is to provide quality services while maintaining profitability, even with the use of Medicaid funding. The company’s growth will likely come through acquisitions, as they can happen more quickly than new developments.
With a background in residential behavioral health, Dejgosha is confident in the potential for success in the senior living industry. Despite challenges, he believes in the possibility of offering excellent services while being financially sustainable, even with Medicaid funding.
