Business View Magazine | March 2020

155 BUSINESS VIEW MAGAZINE MARCH 2020 it was a very profitable sale. Then, in 1996, he started purchasing home healthcare agencies. Between 1999 and 2003, he sold all except one for an internal return of 15.9 percent. We still have one agency we did not sell, which is in Potsdam, New York. Also, in 1999, Mark purchased five self-storage facilities and sold those in 2005 for an internal rate of return of 45.4 percent. Then, we purchased our first hotels in 2004, and we’ve been purchasing and selling hotels on an ongoing basis ever since.” Based in Buffalo, New York, the Hamister Group, LLC currently owns 10 hotels in three states (NY, Indiana, and Pennsylvania) for a total of 1,129 rooms and 18 apartments. The healthcare division continues to grow and now has six assisted living facilities with a total of 858 beds – of those, 131 beds are memory care. In March 2020, the company is also closing on a 68-bed memory care facility in Virginia, which will bring the total number of beds to 926. The segue from assisted living to hotels is not as surprising as HAMI STER GROUP , LLC Vice President & Chief Financial Officer, Alex Gress