CNL Healthcare Properties, an investment firm focused on senior housing and healthcare real estate, has expanded its senior living portfolio with the purchase of six skilled nursing facilities (SNFs) in Arkansas.
The $56.4 million purchase from Senior Living Centers marks the company’s first acquisition in the post-acute care space.
“We continue to seek new opportunities to further diversify our investment portfolio,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Properties.
All bearing the name Healthcare Center, the purchased portfolio of 868 licensed beds includes Arkansas SNFs in Batesville, West Memphis, Jonesboro, Magnolia, Nashville and Searcy.
Senior Living Centers will manage the six properties under a long-term lease agreement. The company currently manages 17 other skilled nursing properties in Arkansas with more than 1,600 licensed beds.
“This acquisition provided a great opportunity to expand our relationship with CNL Healthcare Properties,” said Brian Reynolds of Senior Living Centers. “Each property in Arkansas is dedicated to providing residents with quality care, and we look forward to continuing that commitment of care with CNL Healthcare Properties.”
Since its launch in the summer of 2011, CNL Healthcare Properties has acquired interests in senior housing and healthcare assets valued at more than $560 million.
“The skilled nursing industry has and will continue to play a critical role in the delivery of care to seniors and these properties strategically complement our existing and growing portfolio of senior living and healthcare real estate,” said Mauldin.
Written by Jason Oliva