Kisco Retirement Communities Acquires Transamerica Corporation’s Senior Living Assets. Combined company to be named "Kisco Senior Living" .
Kisco Retirement Communities ("Kisco"), an owner and manager of 13 full-service retirement communities, and Transamerica Corporation, a subsidiary of AEGON N.V. (NYSE: AEG), today announced that Kisco has acquired the senior living assets of Transamerica. The transaction is effective immediately.
Transamerica’s high-quality portfolio consists of 11 properties and 1,132 units located in California and Nevada. As a result of this transaction, Kisco has nearly doubled its portfolio, growing to 24 communities and 3,400 units.
A privately held company with a proven track record of financial strength and stability, Kisco owns and manages full-service rental retirement communities in five states: California, North Carolina, Florida, Georgia and Virginia. According to Kisco President & CEO Andy Kohlberg: "Transamerica Senior Living is an experienced, high-quality operator with very attractive properties and excellent staff. We are very pleased to have the opportunity to combine their business with Kisco’s to create a truly unique senior housing company. This combination will enable us to provide residents with superior quality living environments. "
We recognized that there were numerous synergies between both companies’ operating strategies and philosophies," Kohlberg continued. "To symbolize our commitment to combine the ‘best of both’ companies, I’m pleased to announce that, effective immediately, the combined company will be named Kisco Senior Living."
