Saturday, March 5, 2016

$569 million sale of 6 Florida seniors housing communities closed by HFF

Aston Gardens Seniors Housing Portfolio, Florida

Ryan Maconachy
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a six-property seniors housing portfolio in Florida, known collectively as Aston Gardens.

HFF exclusively marketed the offering on behalf of the seller, Kayne Anderson Real Estate Advisors.  A joint venture between Welltower, Inc. and Canada Pension Plan Investment Board (CPPIB) purchased a 97.5 percent stake in the portfolio in an off-market transaction for $555 million. 

Welltower, Inc. holds a 55 percent stake in the joint venture while CPPIB owns the remaining 45 percent.  The other 2.5 percent stake was purchased by Discovery Senior Living for nearly $15 million.

The Aston Gardens portfolio encompasses six, private-pay, primarily independent living seniors housing properties totaling 1,930 units.  The Class A+, lifestyle-oriented assets have amenities such as heated swimming pools, spas, fitness centers, beauty salons, resident clubhouses and activity centers, arts and crafts studios, putting greens, walking paths and concierge services.

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

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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