Lifehouse Retirement Properties (LHRP)

[Dovegra]

Ok, so I have taken a little time out to figure out what this stock is about: Who are LifeHouse Retirement Properties and Westport Capital Partners, LLC.?

Quality of Life Health Care Corporation (QLHC) started operating its assisted living facilities in Michigan under LifeHouse Retirement Properties, Inc. on April 14, 2005.

The “acquisition” that was posted in the iBox was on December 4, 2008. (www.westportcp.com/press/WCP20081204rel.pdf).

Basically, they formed an entity called LifeHouse Holdings, LLC and sold the LifeHouse Retirement Properties, Inc. and LifeHouse Management Services, Inc. assets to it. LifeHouse Holdings, LLC is an affiliate of Westport Capital Partners, LLC. According to DLA Piper (www.dlapiper.com/files/upload/M&A_Newsletter_Dec08.html), the transaction was for $90.8 million in cash.

Under the agreement, LifeHOUSE will operate with the same senior executives and all communities will remain in place. LifeHOUSE also looks forward to continuing their quest to “create a new benchmark for quality-care” and “will be supported by additional renovation capital provided by Westport and other sources.”
Here is an article talking about LifeHOUSE Holdings, LLC Renovating a property: www.mlive.com/business/west-michigan/index.ssf/2009/01/lifehouse_completes_1_million.html

When searching under “LifeHouse” on the Corporation Division Business Entity Search, there were many results that came up:

www.dleg.state.mi.us/bcs_corp/sr_corp.asp

With regards to LifeHouse Retirement Properties, Inc. there are two listings. One is a Domestic Profit Corporation and the other is a Foreign Profit Corporation

Foreign: www.dleg.state.mi.us/bcs_corp/dt_corp.asp?id_nbr=650618&name_entity=LIFEHOUSE%20RETIREMENT%20PROPERTIES,%20INC.
Domestic: Under Type, it says “Prior Name” and Incorporated on 3-31-97 www.dleg.state.mi.us/bcs_corp/dt_corp.asp?id_nbr=462607&name_entity=LIFEHOUSE%20RETIREMENT%20PROPERTIES,%20INC.%20%20%20%20%20

This is what the state has for Foreign Profit Corporation in regards to a definition:

"A foreign limited liability company is one that is formed under the laws of another jurisdiction. Foreign limited liability companies that are "transacting business" in Michigan must first obtain a Certificate of Authority from this agency. The term "transacting business" is a technical term. The Michigan Limited Liability Company Act sets out particular activities, which in and of themselves do not constitute transacting business. In determining whether it is necessary to obtain a Certificate of Authority, the limited liability company should look at its proposed activities in this state, the statute, and applicable court decisions."

This is as far as I have gotten but I will try to visit different things such as past involvements and the names of the people listed with these companies and see if I can pull something up. Has anyone tried contacting the company directly?

Also, Westport looks like it is in the real estate businesses basically- acquiring properties in distress or needing work for the little time I spent reading about it.

to be continued...