SENIOR LIVING REIT PLANS TO INVEST $67.5 MILLION
Senior Housing Properties Trust (NYSE: SNH) has entered into a transaction with Five Star Quality Care Inc. (AMEX: FVE) valued at up to $67.5 million.
SNH purchased from Five Star for $24 million four assisted living facilities (ALFs) totaling 299 units which were leased back to Five Star.
The properties are in Tennessee (122 units), Nebraska (73 units), Georgia (62 units) and South Carolina (42 units). The ALFs are 92 percent occupied and 100 percent of revenues are paid by residents from their private resources.
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