Thursday, June 4, 2015

Watermark at Logan Square Sells for $72.5M

Fremont Realty Capital and The Freshwater Group have sold the 464-unit continuing care retirement community at 2 Franklin Town Blvd. in Philadelphia, PA to New Senior Investment Group, Inc. for $72.5 million, or roughly $173 per square foot.

The 24-story, 420,220-square-foot healthcare facility, known as Watermark at Logan Square, is comprised of 264 independent living units, 77 personal care, 14 memory care, and 109 rehab and skilled nursing units.

The facility is net-leased to the operator, Watermark Retirement Communities.

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