Health Care REIT Buys Second ALF from Kisco Senior Living for $19.4 Million

Health Care REIT (NYSE:HCN) recently purchased a second North Carolina senior living community from Kisco Senior Living for $19.4 million, reports the Triangle Business Journal.

Abbotswood at Stonehenge is an assisted living community in Raleigh, N.C. HCN and Kisco are also partnering to develop a nearby retirement community after the original developer’s plans didn’t pan out. 

The senior housing investor recently purchased Magnolia Glen from Kisco for nearly $60 million and is currently in the process of acquiring Sunrise Senior Living’s (NYSE:SRZ) portfolio of communities. 

Written by Alyssa Gerace