Cornerstone Real Estate Funds, and its strategic alliance partner and sub-advisor Servant Healthcare Investments, announced that the Cornerstone Healthcare Plus REIT has acquired Forestview Manor a stabilized 69 unit Assisted Living and Dementia Care Facility in Meredith, NH for $10,750,000. Servant Healthcare Investments has engaged Woodbine Senior Living to operate the facility. Woodbine is a regionally focused operator with properties under management in New Hampshire, New York, Pennsylvania and Virginia and 30 years of experience in the senior housing industry. Woodbine also operates Floral Vale, another recent Cornerstone Healthcare Plus REIT acquisition in Yardley, PA.
“Given their focused market approach and familiarity with the New Hampshire, we believe Woodbine matches the profile of this facility quite well,” says John Mark Ramsey, CEO of Servant Healthcare Investments.