BSL Acquires Four Assisted-Living Properties

MOUNT LAUREL, NJ-Brandywine Senior Living, based here, has completed the acquisition of a portfolio of four assisted-living properties in Monmouth and Ocean counties from Meridian Health System. Altogether, the portfolio totals 380 residential units. The sale price was not released.

“This acquisition is consistent with our strategy of owning and managing quality properties,” says BSL president and CEO Brenda Bacon. “We continue to evaluate other growth opportunities in New Jersey, the Northeast and the Mid-Atlantic. We intend to expand the Brandywine standard in assisted living services.”

BSL was acquired not quite two years ago by an affiliate of Warburg Pincus, which paid a group of investors $150 million for the company and its properties. Since then, Brandywine has more than doubled its community count and resident capacity to 18 communities in five states, with one community under construction in Delaware.

The newly acquired properties include Sycamore Assisted Living in Shrewsbury, located at 5 Meridian Way in that community, which has been renamed Brandywine Assisted Living at the Sycamore; and Colts Neck Village Assisted Living on Route 34 in Colts Neck, which is now called Reflections at Colts Neck.

The other two are Pinewoods Assisted Living at 100 Meridian Place in Howell, renamed Brandywine Assisted Living at Howell; and Rosewood Assisted Living at 1587 Old Freehold Rd. in Toms River, now known as Brandywine Assisted Living at Toms River.