ORLANDO—After snapping up $84 million worth of senior living properties through its CNL Healthcare Trust brand in February, CNL Lifestyle Properties has acquired four more senior housing communities for $79.8 million.

CNL Lifestyle Properties bought the senior housing assets from affiliates of Solomon Holdings III Dogwood Four. That brings the total number of senior housing properties the REIT owns to 56.

“The number of people over the age of 65 is rapidly growing, fueling an increasing demand for senior housing options,” Joe Johnson, senior vice president and chief financial officer of CNL Lifestyle Properties, tells GlobeSt.com. “This demand continues to significantly outpace new supply of senior living facilities.”

It’s clear that investment in senior housing assets is an important part of CNL’s
demographically driven investment strategy. Johnson says the firm has witnessed tremendous growth and opportunity within the space. Over the last 18 months, CNL Lifestyle Properties has acquired interests in senior housing and healthcare assets valued at more than $1 billion.

In CNL’s latest senior housing acquisition, the communities total 347 units in four communities in the Greater Atlanta area. Specifically, the community names are Dogwood Forest of Alpharetta in Alpharetta, Dogwood Forest of Eagles Landing in Stockbridge, Dogwood Forest of Fayetteville, and Dogwood Forest of Gainesville.

“CNL Lifestyle Properties understands the challenges operators face and the environment they work in every day through their extensive senior housing operating knowledge,” Johnson says. “An important part of our strategy is to work with best-in-class operators, as we believe that's key to maximizing the value of these properties.”

Expect more from CNL Lifestyle Properties. Johnson says the REIT maintains a robust pipeline of new investment opportunities in the senior housing sector and will continue to invest in 2012. He says CNL also plans to continue to pursue additional opportunities in the ski and attractions sectors.