Charlottesville-based Commonwealth Assisted Living is acquiring Stratford House, a senior living community in Danville.
Financial details of the transaction were not released. The deal is expected to close within the next 60 days.
Commonwealth plans to invest $3.5 million Stratford House, expanding its services and creating 25 new jobs.
Stratford House, which opened in 1990, has been owned and operated by the not-for-profit board since 2008.