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HFF Closes $569 Million Sale of Six Florida Senior Housing Properties

Wednesday, March 16, 2016

HFF recently closed the sale of a six-property senior housing portfolio in Florida known collectively as Aston Gardens. HFF exclusively marketed the offering on behalf of the seller, Kayne Anderson Real Estate Advisors. A joint venture between Welltower, Inc. and Canada Pension Plan Investment Board (CPPIB) purchased a 97.5 percent stake in the portfolio in an off-market transaction for $555 million. Welltower, Inc. holds a 55 percent stake in the joint venture while CPPIB owns the remaining 45 percent. The other 2.5 percent stake was purchased by Discovery Senior Living for nearly $15 million. Senior Housing Property Features The Aston Gardens portfolio, which comprises senior housing properties across the state of Florida, features: Six, private-pay, primarily independent-living multi-housing properties for seniors Total of 1,930 units across... [Read More]

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