Kaufman Hall advised The Carle Foundation in the Divestiture of its Senior Living Community to Greencroft Retirement Communities, Inc.
Transaction Overview:
CHICAGO – January 21st, 2024 - The Carle Health system (“Carle”) has divested the Windsor of Savoy (the “Windsor”), a 174-unit senior living community located in Savoy, Illinois, to Greencroft Retirement Communities, Inc. The Windsor of Savoy has provided high-quality independent living and assisted living to its residents since its opening in 1988 and expanded its service offerings with the addition of memory care in 2022. The Windsor is highly regarded in its community with exceptional resident satisfaction survey results and strong historical occupancy rates.
Kaufman Hall’s Role:
Kaufman Hall served as the exclusive transaction advisor to Carle as it explored strategic options related to the Windsor. As the only senior living asset in the Carle portfolio, divesting this asset will allow Carle to devote additional resources to its core mission.

About the Companies Involved:
Kaufman Hall
Kaufman Hall provides management consulting solutions to help society's foundational institutions realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods, rigorous analytics, and industry-leading solutions into their strategic planning and financial management processes, with a focus on achieving their most challenging goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; revenue and operations improvement; treasury and capital markets management; mergers, acquisitions, partnerships, and joint ventures; and real estate.
Carle Health
Carle Health is a vertically integrated system with a bold but simple mission: to be the trusted partner in all healthcare decisions for everyone who depends on it. Combining clinical care, health insurance, medical research and higher education, Carle Health provides highly accessible, high-quality care and service to improve health in communities throughout central Illinois and beyond. Always focused on its North Star – providing the best care possible for patients and health plan members – Carle Health is driven by a deep philanthropic spirit to solve real-world health issues now and into the future.
The system includes eight, award-winning hospitals, multispecialty physician group practices with more than 1,500 doctors and advanced practice providers, provider-driven health insurance plans including Health Alliance™ and FirstCarolinaCare, Carle Illinois College of Medicine, the world’s first engineering-based medical school, Methodist College, Stephens Family Clinical Research Institute, and other associated healthcare businesses – all working together to get patients and health plan members the care they need at the right time and at every point in their healthcare journey.
Founded in Urbana, IL, Carle Health has more than 16,600 team members working across Illinois, Indiana and North Carolina.