On Feb. 3, Health Care REIT, Inc., (NYSE:HCN) closed its acquisition of a Belmont Village assisted living facility located in San Diego, Calif., for a purchase prices of approximately $67.5 million.
The 176,379-square-foot building was purchased from Belmont Village Sabre Springs LP, and follows the Ohio-based Health Care REIT’s November acquisition of another California assisted living facility, Belmont Village Senior Living, located in Cardiff by the Sea.
The REIT’s real estate portfolio is valued at more than $13 billion and includes senior living communities, medical office buildings, inpatient and outpatient medical centers, and life sciences facilities.
**Editors Note: A previous version of this article incorrectly stated that the facility was located in Scottsdale, Ariz. The facility is actually located in San Diego, Calif.; the facility’s seller is based in Arizona.
Written by Alyssa Gerace