HCN Buys More Fla. Senior Housing Properties from Royal Senior Care for $26.2 Million
Toledo, Ohio-based real estate investment trust Health Care REIT (NYSE:HCN) has been busy in recent weeks with its approximately $845 million acquisition of Sunrise Senior Living and a $65 million purchase of three senior housing communities, and now it has been reported that the REIT purchased three more properties for a total of $26.2 million.
The latest deal involves North Miami-based company Royal Senior Care, which has previously sold at least three other communities to the REIT. The company has sold three more: Heron East, at 2290 Cattlemen Rd., Palmer Club at Prestancia, at 3749 Sarasota Square Blvd., and Heron House, at 3221 Fruitville Rd., all in Sarasota, Fla., reports the Herald-Tribune.
HCN paid $11 million for Heron East, which has 112 units; $5.7 million for Palmer Club, which has 75 beds; and $10.3 million for Heron House, which has 90 beds.
Written by Alyssa Gerace
Category: Acquisitions, Assisted Living, Senior Housing
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