CNL Healthcare Properties, a publicly registered non-traded real estate investment trust, purchased a five-property senior housing portfolio from AEW Capital Management L.P., a global real estate investment management firm, for $195 million.
The portfolio totals 709 units and is located in the southeastern United States. It comprises a mix of independent living, assisted living and memory care units, which are 93 percent leased overall.
The properties in the portfolio include Parc at Duluth in Duluth, Georgia; Parc at Piedmont in Marietta, Georgia; The Blake at Gulf Breeze in Gulf Breeze, Florida (now known as The Beacon at Gulf Breeze); Pavilion at Great Hills in Austin, Texas; and The Hampton at Meadow Place in Stafford, Texas.
CNL Healthcare Properties Inc., is a real estate investment trust that focuses on acquiring properties in the seniors housing and healthcare sectors, including stabilized, value-add and development assets, as well as other income-producing properties, real-estate related securities and loans. CNL Financial Group LLC is the sponsor of CNL Healthcare Properties.