Pegasus Senior Living has expanded its portfolio by assuming management of eight senior living communities in Texas and New Mexico previously operated by LifeWell Senior Living. This includes 652 assisted living and memory care units under LifeWell’s Legacy brand. The transition is scheduled to begin on September 1. The move brings Pegasus Senior Living’s total number of operated communities to 43 in 13 states.
CEO Chris Hollifield expressed that the growth in Texas is strategic, aiming to attract health care providers such as hospital systems, rehab facilities, hospices, and integrated care organizations. The communities acquired were noted to have strong foundations that align with Pegasus’ growth plans.
While LifeWell continues to manage active adult communities, a group of investors based in Houston owns the communities, with Pinpoint Commercial as the developer. Pegasus’ leadership team is evaluating the new properties for upgrades, with a focus on improving occupancy rates and reducing dependence on staffing agencies.
Looking forward, Pegasus plans to further expand in Texas through potential acquisitions. Their goal is to increase average occupancy to 90% by 2025, supported by their financial and operational stability. Hollifield is confident in the company’s ability to achieve this goal and maintain strong performance in the years ahead.
