Wednesday, 02 June 2010

Stakes in South Carolina Seniors Properties Sold for $27Mln

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Royal Senior Care sold an 80 percent stake in two seniors housing properties in South Carolina for $27 million to Cornerstone Healthcare Plus REIT.

The subsidiary of Israeli investment company Gazit-Globe will retain a 20 percent stake in and continue to manage the properties: Oakleaf Village at Greenville, which is near Greenville, and the Columbia area's Oakleaf Village at Lexington. Each facility has 66 assisted-living units and 24 memory care unitsCornerstone of Irvine, Calif., was formerly known as Cornerstone Growth & Income REIT

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Additional Info

  • Syndicate to Realpoint: No
  • States: South Carolina
  • Sector: Assisted Living/Health Care
  • Subject: Property Acquisitions (ACQ), Southeast Regional Digest (SEDIG)
  • Deal Name: Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12
  • Valuation: Between $25 million and $50 million
Read 24 times Last modified on Thursday, 10 June 2010

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