Search
 

Senior Living Corporations Seal Merger; Eight Properties Bring In Nearly $97.6 Million

DALLAS-Capital Senior Living Corp. finalizes a merger with ILM Senior Living Inc. Capital pays nearly $97.6 million for eight ILM properties, but gets 75% interest in Villa Santa Barbara.

By Connie Gore | Updated on August 17, 2000

Dallas-based Capital Senior Living Corp. has secured seven senior living communities and 75% interest in Villa Santa Barbara with the closing of a previously announced merger with ILM Senior Living Inc. The total cash consideration for the eight properties is about $97.6 million.

Capital, one of the nation’s largest operators and developers of senior living communities, has been overseeing the properties for the past four years. James A. Stroud, Capital’s chairman, says the merger is “strategically important … aimed at increasing ownership of assets and enhancing cash flows.” Stroud estimates annual cash earnings to jump more than 20%, or 11 cents, over its present rate.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.