Published on August 29, 2011 at 12:42 AM
Triad Senior Living, Inc., a Dallas based senior housing provider with offices now in Tulsa, announced the successful acquisition of the University Village retirement community in Tulsa. The 38 acre retirement campus offers rental cottages, independent & assisted living apartments and a dedicated healthcare center. The entire community is managed by Triad Aspen Partners, a newly formed management entity between Triad principals and local Tulsa businessman, Matthew R. Gawey.
"We're very pleased to now lead University Village and continue its strong legacy of providing excellent retirement options to Tulsa's seniors," stated Triad president, Blake N. Fail. The terms of the deal involved $5,500,000 in cash and the assumption of certain long term financial obligations. The new owners also plan to spend at least $2,000,000 in capital improvements on the community.
"While University Village has always had a great reputation for the quality, Christian care it provides, we're excited to bring in the resources needed to update the community for our residents and the Village's long term goals," added Matthew Gawey. The new owner group also includes Tulsa investor Keith A. Roberts and the University Village Trust, a non-profit corporation that will continue the non-profit legacy of University Village. The community will continue to have a full-time chaplain on staff and provide a wide variety of social and support services for its elderly residents.
Source: Triad Senior Living