Summit Healthcare REIT, Inc. announced that it has acquired an interest in 14 skilled nursing/assisted living facilities throughout Indiana on March 13, 2019. The facilities, acquired for $125 million, consist of a total of over 1,100 licensed beds and will be leased back to the seller on a triple net basis. The acquisition was made through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. Summit holds a 15% membership interest in the joint venture.
“The new joint venture will continue to focus on quality regional operators, but on a larger scale,” said Kent Eikanas, President & Chief Operating Officer.
Date: March 25, 2019
Source: Summit Healthcare REIT. INC
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