Benchmark Senior Living, Wellesley, Mass., and Health Care REIT, Toledo, Ohio, closed on a deal to form a partnership that bought the real estate assets of 34 senior housing communities operated by Benchmark.
Benchmark, Health Care REIT close deal
The assets were purchased for $890 million from GPT Group, Sydney, Australia, according to a GPT news release announcing the Feb. 15 deal. Health Care REIT, a real estate investment trust, takes ownership of 95% of the partnership and Benchmark owns 5%, with Benchmark continuing to provide management services to the communities, according to a news release from Health Care REIT. The facilities in the deal are in six New England states.
Late last month, Health Care REIT signed a definitive agreement to buy substantially all of the real estate assets of post-acute-care provider Genesis HealthCare, Kennett Square, Pa., for $2.4 billion.
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