News
Senior Wheelin' n' Dealing
June 7, 2010
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| On that topic, Dallas-based Capital Senior Living, which operates 66 senior living communities in 23 states with a total capacity of 10k residents, made a move last week. Midwest Portfolio Holdings II, a JV in which Capital Senior Living held a 15% partnership interest,sold three Indiana seniors living communities to Health Care REIT. Then, Capital Senior Living leased the communities from HCN. (We get the impression they're good at Monopoly.) The company previously managed the three communities in the JV under long-term management agreements. (Above is the Waterford at Pantego.) The three communities being leased have about 300 units and include 198 units of assisted living and 102 units of memory care, with enough room for nearly 350 residents. At the end of 2009, financial occupancy at the combined communities was 90%. |
