Health Care REIT Inc. announced Tuesday that it had completed a leasing agreement with Emeritus Senior Living that was announced on June 27.
The transaction involves 38 senior housing communities previously owned in an 80/20 joint venture between the Toledo real estate trust and Merrill Gardens. As part of the deal, Health Care REIT acquired Merrill Gardens’ 20 percent interest in the joint venture for $173 million.
Health Care REIT’s stock fell about 1 percent Tuesday to $60.84.
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