New York City-based Trustwell Living has added 16 assisted living and memory care communities to its holdings, greatly expanding its five-community portfolio to 21 communities.
Management has transitioned, and the senior living communities — 762 units located across Florida, Illinois and Ohio — have been rebranded. The deal means that Trustwell now oversees a total of more than 1,000 units in six states.
“We are excited to announce these management transitions and welcome the residents, community team members and families to the Trustwell Living family,” CEO Lawrence Cohen said in a press release.
“The portfolio of communities, on-site leadership and community teams of caring and dedicated professionals are a perfect fit for our Trustwell Living brand and aligns very well with our growth strategies,” he added.
Trustwell Living, founded by Cohen in January 2021, announced its first acquisition in May 2022 with the acquisition and branding of Trustwell Living of Springfield, a 67-unit senior living community in Springfield, IL. That same month, Trustwell Living acquired and rebranded three Kansas City-area senior living communities. The company picked up an independent living community in Knoxville, TN, in December.
Trustwell says it is committed to rehiring all of the employees who work at its newly acquired communities.
“We believe that to best serve residents and families, we need to first serve our valuable community team members. We want to make sure that they feel appreciated and that their work is valued,” Cohen said. “Through this focus on community team members, we believe that we will better serve our residents and families and become an employer of choice in these markets.”
Cohen is former CEO of Capital Senior Living, which rebranded as Sonida Senior Living in 2021. He was CEO of the firm for 19 years before retiring Jan. 1, 2019.
Cohen is also a founding member and former chairman of the board of the American Seniors Housing Association and served on the operator advisory board of the National Investment Center for the Seniors Housing & Care. He is chairman of the Senior Living Hall of Fame Selection Committee, on which McKnight’s Senior Living Editor Lois Bowers also serves.
