CNL Lifestyle Properties Acquires Three Illinois Senior Living Communities

CNL Lifestyle Properties, Inc., a public, unlisted REIT based in Orlando, Fla., recently acquired two Illinois assisted and independent living properties from Wilkinson Corp. of Yakima, Wash., for a combined $21 million.

The Grand Victorian of Washington, located in Washington, Ill., sold for $11.1 million, and the Grand Victorian of Pekin, located in Pekin, Ill., sold for $9.9 million. They will continue to be operated by management company Good Neighbor Care.

CNL Lifestyle Properties also acquired a third senior living facility, Grand Victorian of Sterling, for an unknown amount. Each of the three communities has 61 residential units.

Written by Alyssa Gerace