KENNETT SQUARE, Pa. — Genesis HealthCare, a seniors housing owner-operator based in Kennett Square, has sold 18 of its Vintage Park Assisted Living properties in Kansas. The seller and purchase price were not disclosed.
The sale proceeds will be used to repay $54.2 million of an existing bridge loan from Welltower, with residual proceeds used to repay other debts.
Genesis acquired the properties in February of 2015. The 18 assets include 807 beds.