ORLANDO—CNL Healthcare Trust has closedon its purchase of seven seniorhousing communities valued at about $226 million. CNLacquired the assets through a joint venture agreement withSunrise Senior Living.
Under the terms of the agreement, CNL Healthcare Trust ownsabout 55% of the joint venture. Sunrise will continue to operatethe communities under a long-term management agreement.
“There are many solid types of assets in seniorhousing, however our focus is on assistedliving and memory care,” SharonYester, chief asset management officer for CNLFinancial Group, tells GlobeSt.com. “The markets for thistype of asset are very strong for the future and Sunrise does agreat job of caring for seniors within those kinds ofcommunities.”
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