We are proud of our long-term client CNL Lifestyle Properties, Inc. (CLP) who has entered into an agreement to sell 38 senior living communities located in 16 states (Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Missouri, Montana, Nevada, North Carolina, Oregon, Rhode Island and Washington) to Senior Housing Properties Trust (NYSE:SNH) for $790 million, which includes the assumption of some debt. CLP is a real estate investment trust that invests in and sells income-producing properties with a focus on lifestyle-related industries. The agreement was made on 12/23/14 and the 38 communities have 3,466 total living units, including 826 independent living units, 1,860 assisted living units, 744 memory care units and 36 skilled nursing beds. Historically, more than 95% of revenues at these 38 communities came from residents’ private resources, and these combined 38 communities were approximately 93% occupied for the month of November 2014. We celebrate our client CNL Lifestyle Properties, Inc.!
December 24, 2014