Dallas-based Ally Senior Living has merged with Onelife Senior Living, a family-owned developer and operator, in a deal that will establish the new company in eight states across 19 senior living communities.
The companies said they began merger conversations last year and the deal closed this month. Financial details were not disclosed.
The new company will retain the Onelife Senior Living name and branding and will be led by partners Dan Williams, previously CEO of Ally Senior Living, and Zack Falk, previously CEO of Onelife. Executive team members from both companies will fill roles in the newly established Onelife Senior Living.
“Dan is inspiring. He resiliently built Ally during our industry’s darkest days. Not only did he secure trust from owners amidst financial turmoil, but he also thrived by prioritizing resident well-being and managing resources responsibly,” Falk said in a statement. “As we expand and embrace the responsibility of even more residents and team members, his proven track record of balancing growth with fiscal prudence makes him an invaluable asset. This merger isn’t just about increasing reach; it’s about ensuring we do so sustainably and with dedication to the people we serve.”
Williams built his previous senior-living company from the ground up, taking on management of 10 communities in his first 18 months. The company said he will spearhead the operational side of the business while Falk focuses his attention on real estate development and acquisitions.
Designed to accelerate growth
The company said that the merger is designed to accelerate growth while maximizing the strategic advantage of each company. Onelife is now uniquely placed in the market with development, construction, and operational capabilities.
“This takes us from two successful, but smaller, companies to a large actor in the industry with significant capital-backing,” said Dan Williams, partner of Onelife Senior Living. “We now have much broader capabilities and will focus on being a top-class operator while growing our portfolio selectively and astutely. As a company, we want to grow steadily over time rather than all at once, because quality care remains our top priority.”
The merger results in a company composed of 19 communities—nine previously existing Onelife communities, and 10 formerly operated by Ally.
Onelife recently entered several new markets, including San Jose, California and Happy Valley, Oregon.
It plans to acquire roughly five communities in the next 12 to 18 months and expects to announce additional projects within that time frame, the company said. Onelife also plans to continue offering third-party management services to select owners that have similar vision alignment.
Leadership and scope
Onelife said that as part of the merger, it named Elliott Westerman chief financial officer. Previously, he was CFO of Ally. Westerman brings varied experience to his position as CFO, with expertise in commercial real estate investment, valuations, asset management, operations, senior housing management, and more.
In the past few years, he has led various companies as CFO, including Ally Senior Living, Highgate Senior Living, The Hearthstone Retirement Living at Green Lake, and Stafford Health Services.
“Onelife’s roots go back 60 years to a six-story senior living community in Canyonville, Oregon founded by my father,” Greg Falk, co-founder and principal investor of Onelife Senior Living, said in a statement. “Partnering with Dan and his Ally team gives us an important opportunity to expand our footprint, enhance our operating platform and come together on new ideas in a market with huge demand projected for the next 30 years.”
With the completion of the merger, Onelife Senior Living is composed of 1,400 employees across eight states and 19 properties.
Its headquarters are in Denver, Colorado with management and support teams in Dallas, Arizona, and Oregon.
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