The asset traded just last year for $63.8 million.
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These acquisitions highlight steady demand for senior living and healthcare assets in South Florida, where an aging population continues to fuel resilience in the sector despite higher interest rates and inflation.
Royal Senior Care and MG3 developed the 220-bed facility in 2017.
Real estate investment trust Welltower purchased Jacksonville, Fla.-based CenterOne Surgery Center’s medical office building for $25.7 million from CNL Healthcare Properties, the Jacksonville Daily Record reports.
What you should know:
1. The three-story medical office building is around 100,000 square feet.
2. CNL sold the medical office building to Welltower as part of a $1.25 billion property bundle.
3. CNL Healthcare Properties President and CEO Stephen Mauldin said, “The sale of our 55-building, class A medical office portfolio to Welltower represents a strong, early-value realization step for CNL Healthcare Properties.”
Source: Becker’s ASC Review
Welltower Inc. (NYSE: WELL) and CNL Healthcare Properties announced yesterday that Welltower has completed the purchase of a Class A health care facilities portfolio for $1.25 billion.
“We are extremely excited to close on this transaction and are pleased with the progress we have made to date that further enhances the value of these high-quality assets,” said Keith Konkoli, Senior Vice President and leader of Welltower’s Medical Office and Outpatient segment. “By leveraging the strength of our platform, we have made substantial progress in extending ground leases, have experienced increased leasing velocity, and have identified additional opportunities to deploy capital that helps our health system partners improve care delivery to the communities they serve, further demonstrating our unique ability to drive long-term value through meaningful collaborations with the nation’s premier health systems.”
“The sale of our 55 building, Class A medical office portfolio to Welltower represents a strong, early value realization step for CNL Healthcare Properties and our approximately 45,755 stockholders,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Properties. “This is the first sizeable transaction in our carefully orchestrated strategic alternatives process to provide liquidity to investors, and we are very pleased with the outcome.”