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November 14, 2019
Merrill Gardens announced the pending acquisition of a 26-property senior housing portfolio from New Senior Investment Group of New York. Terms weren't announced. The deal will be a joint venture with Toledo-based ReNew, which invests in senior housing. If completed as planned in the first quarter of next year, that'll bring Merrill Gardens' national portfolio up to 65 communities in 17 states. About half the new acquisitions are already managed by Blue Harbor of Portland, which Merrill Gardens purchased earlier this month. (At Blue Harbor, Tana Gall will succeed Dave Eskenazy, who's retiring, as president.) R.D. Merrill Co.'s Bill Pettit said in a statement, “This agreement provides an important chance for us to expand our footprint and diversify our senior housing product by entering the more moderately priced market and offering quality senior living to residents who are focused on that price point.”