MISSISSAUGA, CA-Chartwell Seniors Housing Real EstateInvestment Trust, based here, has divested six USproperties to Harvest Facility Holdings, asubsidiary of Holiday RetirementCorp., for $165.5 million. The properties, totaling1,221 living suites, are in five states.

The deal is being partly settled by the assumption of existingmortgages with an aggregate outstanding balance, as of June 1, ofabout $106.8 million. The deal is expected to close in the fourthquarter.

The properties include Town Village VestaviaHills, AL; Town Village SterlingHeights in Sterling Heights, MI and Park atTrowbridge in Southfield, MI; Town VillageTulsa, OK; Waterford in Dayton, OH andTown Village Audubon Park, TN. All are managed byNashville, TN-based Brookdale Senior Living. Theproperties were purchased at part of two portfolios by Chartwell ina joint venture with ING Real Estate Australia in2006.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.