The price represents one of the highest per-unit and per-bed prices CNL has paid to date for acquired assets. The price of the 11 properties in six states equates to about $16.4 million per development and $119,840 per bed. The facilities are in California, Massachusetts, Maryland, Virginia, Connecticut and Virginia.
Sunrise Senior Living Services Inc. of McLean, VA will continue to manage the properties. Affiliates of Aureus Group will remain as tenants.
CNL Retirement Properties' CEO Thomas J. Hutchison III calls the acquisition and the quality of the properties "exceptional." The occupancy levels and age of the individual assets were not available.
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