Friday , 22 March 2019
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CNL Healthcare Properties Buys Seniors Portfolio for $195 Million

ORLANDO – CNL Healthcare Properties, a Florida-based REIT, purchased a five-property seniors housing portfolio, which includes a facility located near Houston, totaling 709 units for $195 million.

Holliday Fenoglio Fowler marketed the portfolio on behalf of the seller, AEW Capital Management.  AEW sold the property on behalf of AEW Senior Housing Investors.

The portfolio encompasses a mix of independent living, assisted living and memory care units, which are 93.1 percent leased overall.

Properties in the portfolio are: 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 Meadows Place, in the city of Meadows Place, Texas at 11919 W. Airport Blvd.

The HFF team representing the seller was led by managing directors Ryan Maconachy and Chad Lavender.

CNL Healthcare Properties has acquired a number of seniors and healthcare properties this year for $540.7 million, including:

  • Novi Orthopaedic Center, a medical office building in Novi, Michigan, acquired on Feb. 13 for $30.5 million.
  • The UT Cancer Institute Building, a medical office building in Knoxville, Tennessee, purchased on Feb. 20 for approximately $33.7 million.
  • Fieldstone Memory Care, a seniors housing community in Yakima, Washington, acquired on March 31 for $12.4 million.
  • Bend Memorial Clinic Medical Office Building in Bend, Oregon, purchased on May 11 for approximately $34.6 million.
  • Primrose Retirement communities in Wausau, Wisconsin, Lancaster, Ohio, and Anderson, Indiana, acquired on May 29 for a total of approximately $67 million.
  • The Stoneterra Medical Plaza in San Antonio, Texas, acquired May 29 for approximately $15 million.
  • A portfolio including the North Carolina Specialty Hospital in Durham, North Carolina, and four medical office buildings in the Triangle communities of Roxboro, Oxford and Chapel Hill acquired on June 29 for approximately $63.1 million.
  • Two medical office buildings in Chula Vista, California, acquired on June 30 for a combined price of $15 million.
  • Superior Residences of Panama City in Panama City Beach, Florida, acquired on June 17 for $20 million.
  • The medical office building 540 New Waverly Place in Cary, North Carolina, acquired July 20 for $15 million.
  • The MedHelp Medical Office Building in Birmingham, Alabama, acquired July 31 for $15 million.
  • The Liberty and Patriot Professional Centers medical office buildings in Frederick, Maryland, acquired July 31 for $24.25 million.
  • Five seniors housing communities were acquired July 31 for a total of $195 million. The portfolio includes The Hampton at Meadows Place in Meadows Place, Texas, The Pavilion at Great Hills in Austin, Texas, The Beacon at Gulf Breeze in Gulf Breeze, Florida, Parc at Duluth in Duluth, Georgia, and Parc at Piedmont in Marietta, Georgia.


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