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Waterton Takes Controlling Stake in Senior Living Operator

Waterton has acquired a controlling interest in senior living owner/operator Pathway to Living. Terms were not disclosed.

The two Chicago-based companies have partnered since 2015, when Waterton acquired a 50% stake in Pathway to Living, now increased to 80%.

“We have been making investment decisions alongside Pathway to Living for five years,” said David Schwartz, Waterton’s CEO, chairman and co-founder. “Pathway to Living’s vertically integrated operations and its steadfast commitment to a brand known for providing exceptional care to residents, have proven to be instrumental in its success.”

Pathway to Living owns and/or manages 29 communities comprising over 2,600 units in four Midwestern states, including Azipra of Lake Zurich in Lake Zurich, IL (pictured), one of nine assets jointly-owned with Waterton. Three more are under development.

Waterton and Pathway to Living will continue to focus on addressing middle-income demand in the sector through value-add acquisition and development.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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