In the Dec. 29 closings, the locally based company paid EdenCare Senior Living Services LP of Alpharetta, GA $172 million or $7.8 million per property for 22 facilities; another $27 million or $9 million per property to EdenCare in a separate deal for three properties; and $5.5 million for the 66-unit Dogwood Forest of Dunwoody facility in suburban Atlanta from 7400 Peachtree Dunwoody Road LLC.
Sunrise Senior Living Inc. of McLean, VA will manage the 22 properties CNL acquired in the first deal with EdenCare. Harbor Retirement Associates LLC of Vero Beach, FL will serve as the tenant.
In the second deal with EdenCare, Harbor Retirement will lease and operate the three properties for CNL. In the remaining deal, the acquired Georgia asset offers both assisted living and Alzheimer's care services. Sunrise will manage the property and Solomon Holdings II-Dogwood Forest LLC will be the tenant.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
