MINOT, N.D. — IRET (NYSE: IRET), a REIT based in Minot, has sold a portfolio of eight seniors housing communities totaling 313 units, all located in Idaho. The current tenants, all affiliates of Edgewood Senior Living, purchased the properties for $43.9 million.
News
TOLEDO, OHIO — A joint venture between Cindat Capital Management Limited and Union Life Insurance has purchased a 75 percent interest in a Welltower-owned portfolio of seniors housing properties for $930 million. The acquisition represents Cindat’s first foray into U.S. health care real estate investment.
CBRE Arranges Acquisition Financing for 102-Unit Independent Living Community in California
by Jeff Shaw
REDDING, Calif. — CBRE has arranged an undisclosed amount of financing for Ray Stone Inc., which will use the capital to acquire River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento.