EAGLE, Idaho, Sept. 16, 2026 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of Pennant affiliated home health, hospice, home care and senior living companies, announced today that, effective September 3, 2026, it acquired the real estate of Mainplace Senior Living (“Mainplace”), a senior living community located in Orange, California. A Pennant affiliated subsidiary has operated Mainplace under a triple-net lease since our spin-off in 2019. This acquisition aligns with our disciplined approach of capital deployment in acquiring senior living real estate, at attractive pricing, to capture both the long-term value of the real estate that benefits from the strong cultural, clinical and operational results in the acquired community.
“We are thrilled to add Mainplace's real estate to Pennant's growing real estate portfolio,” said Brent Guerisoli, Chief Executive Officer of Pennant. “Our affiliated operators know this community, its team and the market well, making this a compelling opportunity to pair an established operating relationship with ownership of an attractive real estate asset. The transaction reflects our disciplined acquisition strategy and our conviction that selective real estate ownership can enhance alignment, strengthen long-term operating stability and create enduring value.”
Andrew Rider, President of Pinnacle Senior Living LLC, Pennant's senior living subsidiary, added, “Mainplace will continue to be supported by the same local leaders, caregivers and operating approach familiar to residents, families and employees. We are excited to build on that continuity and to invest in the additional long-term valuation creation in our real estate portfolio from a thriving senior living community that is strategically aligned with Pennant's vision for a durable, high-quality real estate portfolio.”
Pennant intends to continue pursuing real estate investments that complement its operating model while preserving financial discipline and balance-sheet flexibility.
About Pennant:
The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through home health, hospice, and home care agencies and senior living communities located throughout Alabama, Arizona, California, Colorado, Connecticut, Georgia, Idaho, Montana, Nevada, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own management, employees, and assets. References herein to the consolidated "company" and "its" assets and activities, as well as the use of the terms "we," "us," "its" and similar verbiage, are not meant to imply that The Pennant Group, Inc. has direct operating assets, employees or revenue, or that any of the home health and hospice businesses, senior living communities or the Service Center are operated by the same entity. More information about Pennant is available at www.pennantgroup.com.
Contact Information
The Pennant Group, Inc.
(208) 401-1400
ir@pennantgroup.com
SOURCE: The Pennant Group, Inc.
