In the past two weeks, the REIT has done deals to acquire 45 properties valued at a total $376.8 million in 17 states. When completed, the deals will bring CNL's portfolio to 117 retirement properties with 12,000 units in 27 states. The deals also allow CNL to enter the New York market for the first time.
CNL Retirement CEO and president Thomas J. Hutchison III says the acquired properties are all in "demand-driven markets" and consist of "superior seniors' housing facilities."
In its latest closed deal, the REIT acquired 17 properties for $178.8 million, from McLean, VA-based Sunrise Senior Living Inc. CNL also has contracted to buy 28 additional properties totaling 1,913 units in two separate deals with affiliates of EdenCare Senior Living Services LP of Alpharetta, GA for $198 million.
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