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Hamister buys 10th nursing home with acquisition in Pennsylvania
Buffalo News - 11/22/2022
Nov. 22—Continuing the expansion of its portfolio, Buffalo-based Hamister Group has acquired a nursing home in Allentown, Pa.
Hamister did not say how much its Hamister Real Estate Equity Fund III LP paid to acquire DevonHouse Senior Living, which it described as a "personal care home."
Opened in 1989, DevonHouse features 42,446 square feet of space, with 80 units and 100 beds, a dining area, a courtyard, a family dining room, an activity room and a TV room. It's been expanded twice, in 2008 and 2013.
This is the 10th senior living community in Hamister's managed portfolio, and the sixth acquired by the investment fund that Hamister sponsors for investors.
"The community offers a great opportunity for us to expand our portfolio in Pennsylvania and implement our 45-years of experience," said Hamister Chairman and CEO Daniel Hamister.
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