Senior Housing Investments & Transactions: CNL Healthcare Properties II, Vitality Senior Living
April 5, 2017 | by
CNL Healthcare Properties II Makes Its First Acquisition
CNL Healthcare Properties II, Inc., a non-traded real estate investment trust (REIT) focused on seniors housing and health care properties, made its first acquisition by purchasing Summer Vista Assisted Living Community, a newly-constructed senior living community located in Pensacola, Florida.
SRI Management, LLC, the company that has managed Summer Vista since it opened in February 2016, will continue to manage the community under a five-year agreement. SRI manages 15 other senior living communities throughout Florida and Louisiana, including two for CNL Healthcare Properties, Inc., a related REIT.
Summer Vista sits on 3.5 acres and consists of 67 assisted living units and 22 memory care units. The community features a 24-hour emergency response system, on-site therapy, beauty salon, bistro, fitness center, nature walking trail and chauffeured transportation.
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