Source: Holliday Fenoglio Fowler / #Senior #Housing
TAMPA, FL - Holliday Fenoglio Fowler announced that it has closed the sale of a six-property seniors 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.
The Aston Gardens portfolio encompasses six, private-pay, primarily independent living seniors housing properties totaling 1,930 units. The Class A+, lifestyle-oriented assets have amenities such as heated swimming pools, spas, fitness centers, beauty salons, resident clubhouses and activity centers, arts and crafts studios, putting greens, walking paths and concierge services.
Discovery Senior Living consists of a family of companies specializing in and improving senior living services for America’s aging population. With experience and a reputation that spans 25 years, as well as a world-class team of experts at the helm, Discovery Senior Living develops and manages an array of senior living community brands across the Southeast, Mid Atlantic and Midwest regions, and provides Medicare-certified home healthcare services as well.