A senior housing community in Lake Barrington, Ill. was recently sold by a joint venture between Chicago-based Senior Lifestyle Corp. and Walton Street Capital LLC to Health Care REIT (NYSE:HCN) in a $81.7 million transaction, according to Crain’s Chicago Business.
Lake Barrington Woods is a 192-unit property that provides both independent and assisted living.
The transaction was part of a larger 19-property portfolio sale to the Toledo, Ohio-based REIT. HCN recently entered a $459 million sale/leaseback transaction with Senior Lifestyle Corp. for the portfolio, says the article.
Private equity firm Walton Street, also based in Chicago, was Senior Lifestyle Corp.’s partner for seven of the 19 properties bought by HCN.
Written by Alyssa Gerace