Asbury Park announces sale
Asbury Park, Inc. a continuing care retirement community in Newton, announced Nov. 23 it had entered into an agreement to sell the Asbury Park assets and operations to Paramount Community Living and Rehab Inc. The transaction is anticipated to close in the fourth quarter of 2020.
"During this transition we will remain focused upon the continued excellent care and welfare of our residents. We look forward to working with the team at Paramount Community Living and Rehab to make this a successful and seamless transition for everyone involved," said William Young, Chairman of the Board of Trustees of Asbury Park
The transaction is subject to closing conditions, including the approval of the appropriate regulatory authorities.
Founded in 1958, Asbury Park is a not-for-profit retirement community affiliated with the Great Plains Conference of the United Methodist Church and is dedicated to providing a continuum of care for older adults. Asbury Park is situated on a 34-acre campus at the south edge of Newton.
"Having successfully transitioned similar properties across the Midwest into high-quality living and healthcare facilities, we are extremely pleased with this opportunity to expand our operations into Newton,“ said Jake Walden, CEO of Paramount Community Living. ”Clinical excellence coupled with customer satisfaction is the highest priority for us in ensuring the health and longevity of the community."