REIT Affiliate Acquires Tennessee Senior Living Community for $16.9 Million

An affiliate of Ohio-based Health Care REIT (NYSE:HCN), listed as “6605 Quail Hollow Road LLC,” recently purchased a 160-bed senior living community located in Tennessee for $16.9 million, reports the Memphis Daily News.

Belmont Village-Memphis, located at 6605 Quail Hollow Road, is a 120-unit senior living center that was built in 1999 on 3.8 acres of land. It was appraised at $8.5 million in 2011 by the Shelby County Assessor of Property.

Belmont Village Memphis LLC sold the community in a transaction that includes “Belmont Village Landlord LLC” on file for borrowing a $36.5 million loan, with “6605 Quail Hollow Road LLC” as the mortgagor, and Health Care REIT as the lender.


Additionally, the Memphis Daily News reports that a lease was signed in conjunction with the purchase, with “Belmont Village Tenant LLC” leasing the property through January 2027 from five entities, including the REIT affiliate.

Written by Alyssa Gerace


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