BUSINESS BRIEF
REIT buys properties in England for $257M
8/15/2014Toledo’s Health Care REIT Inc. said Thursday that it has acquired 11 premium-quality housing communities for seniors located in southern England for $257 million from Gracewell Healthcare, a British health-care provider.
The Toledo-based real estate investment trust, which on Wednesday acquired 53 seniors complexes and the rights to 62 more under construction or planned, said Sunrise Senior Living LLC will buy Gracewell’s management company and operate the 11 housing communities. Health Care REIT owns 24 percent of Sunrise Senior Living.
The Toledo company said the 11 properties it acquired from Gracewell, of Watford, England, are all purpose-built, premium private-pay communities with a combined total of 767 units.
Most of the properties were built after 2012 and are still leasing space, Health Care REIT said.