Genacross Lutheran Services has sold its Toledo Campus to Majestic Care
|Deal Type||Mergers & Acquisitions|
|Client & Transactional Partners||
Genacross Lutheran Services
MDG Real Estate Global Ltd.
|Our Role||Sell-Side Advisor|
Lutheran Homes Society, Inc. and Related Ministries (d/b/a/ Genacross Lutheran Services) announced the sale of its Toledo campus to Magestic Care, an affiliate of MDG Real Estate Global Ltd. The transaction received regulatory approvals and closed effective December 17, 2021.
Cain Brothers, a division of KeyBanc Capital Markets Inc., served as exclusive financial advisor to Genacross in connection with the sale of its Toledo Campus to Majestic Care, an affiliate of MDG Real Estate Global Ltd. The sale provides future financial flexibility and an improved financial position for Genacross. The Cain Brothers team brought deep domain expertise in the post-acute care industry, a strong understanding of the health care real estate market, and industry leading sell-side strategic advisory experience to Genacross for the successful execution of this divestiture transaction.
Headquartered in Toledo, OH, Genacross is an Ohio not-for-profit corporation that has been serving the needs of youth and the elderly in northwest Ohio and southeast Michigan for over 160 years. The Genacross network of services includes skilled nursing care, assisted living, inpatient and outpatient rehabilitation, respite care, home health care and affordable independent living for seniors, as well as community-based residential care and treatment programs for high-risk youth. Genacross currently operates three senior living campuses totaling over 465 units and 12 HUD/affordable housing properties totaling over 650 units.
Formed in 2018 and based in Westfield, IN, Majestic Care is a for-profit operator of skilled nursing facilities in Indiana, Kentucky, Ohio, and Michigan. The company currently operates over 30 facilities comprised of 4,000+ beds. Majestic Care is an affiliate of MDG Real Estate Global.
MDG Real Estate Global is a publicly listed real estate investment firm based in New York, NY. MDG has a portfolio of assets valued at over $1.0 Billion and is trading on Tel Aviv Stock Exchange. MDG holds a diversified portfolio of assets including office, hotel, multifamily housing, hospitality and senior living facilities.