Wednesday, April 8, 2015

Six Senior Housing Communities Sold for $54.5M

Care Investment Trust acquired six senior housing communities totaling 299 units across four states from The Hollinger Group for $54.48 million, or about $182,000 per unit.

The portfolio boasted an average occupancy of 94 percent, and includes:
The Gardens at Cross Keys in Glassboro, NJ;
Graysonview Harrisburg in Harrisburg, PA;
Allzwell Assisted Living in Chesapeake, VA;
Autumn AL at Bel Air in Bel Air, MD;
Autumn AL at Cockeysville in Cockeysville, MD;
Autumn AL at Hagerstown in Hagerstown, MD.

Last month, Care Investment Trust closed on the purchase of Hollinger Group's Southern Portfolio for $29.13 million. This brings the total portfolio value to $83.6 million.

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