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CHATTANOOGA, TN-Cornerstone Healthcare Plus REIT has acquired Terrace at Mountain Creek, a 110,000-square-foot senior living facility, for $8.5 million. Cornerstone Real Estate Funds and its strategic alliance partner Servant Healthcare Investments are the entities behind the REIT.

Terrace at Mountain Creek has 116 units, including 42 independent living, 61 assisted living and 13 memory care. The Irvine, CA-based Cornerstone acquired the property from Yakima, Wash.-based Wilkinson Corporation, which will continue to manage the facility under the Good Neighbor Care brand. Terrace at Mountain Creek is 96.6% occupied.

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