Dec. 20 -- GOSHEN -- Greencroft Communities Inc. announced this week the acquisition of the Windsor of Savoy from Carle Health.
The sale closed on Dec. 4, marking a significant expansion for Greencroft Communities into the Illinois market.
The Windsor of Savoy, a senior living community located in Savoy, Illinois, has been serving seniors for nearly 40 years. Greencroft Communities is committed to ensuring a smooth transition by retaining current team members and holding resident rates increases consistent for the next two years.
In addition, Greencroft Communities is dedicated to becoming an integral part of the Savoy community by committing $5 million for capital improvements for Windsor of Savoy over the next four years.
"We are thrilled to officially welcome Windsor of Savoy into the Greencroft family," said Hugh Davis, CEO of Greencroft Communities. "This acquisition allows us to further our mission in providing dynamic living communities that embrace the creativity, contributions, and challenges of aging for all. We look forward to building upon the strong foundation established by Carle Health, serving the residents with the same level of excellence they have come to expect, while fostering an environment that celebrates the unique journey of each individual."
The ownership transition was initiated by Carle Health with a focus on finding a buyer who aligned with the vision and mission for the residents of the Savoy community, prioritizing this alignment over the financial aspects of the deal. Carle Health conducted a selective buyer evaluation process to ensure a strong match in mission, values, and culture. Both parties completed a rigorous due diligence period, which included leadership integration planning and site visits.
The acquisition of Windsor of Savoy adds 176 independent living apartments and 42 licensed assisted living units to Greencroft Communities' portfolio.
Immediately following the sale closing, the Greencroft Communities team has been on-site in Savoy to facilitate open lines of communication with the residents and team members. Plans are already underway to host a community open house in early 2025.