Survival of Action.ĭiscussion of the equitable remedy of a bill for discovery. Due Process of Law, Statute of limitations. Practice, Civil, Discovery, Amendment of complaint, Moot case, Motion to dismiss, Statute of limitations, Survival of action. 572 NovemOctoCourt Below: Superior Court, Worcester County Present: Rubin, Wolohojian, & Henry, JJ.Īssisted Living Residence. The company also transitioned 11 California-based RIDEA Silverado Senior Living assets to a triple-net lease with Silverado that has an initial 10-year term.ATCHUE vs.
Benchmark senior living llc pro#
Meanwhile, Welltower formed a new joint venture with Clover Management and acquired a total of 32 communities, including four under development, for a pro rata investment of $343 million.Īt the end of the second quarter, Welltower transitioned 20 properties to a newly formed RIDEA joint venture with Oregon-based Frontier Management.
Through the transaction, Welltower gained exclusivity on Balfour's future acquisitions and development pipeline, along with an option to acquire up to a 34.9% interest in the management company. The acquisition includes Balfour's 203-unit Riverfront Park community. Welltower also said it acquired a six-community portfolio in downtown Denver at a pro rata investment of roughly $293 million from Balfour Senior Living. Sunrise will continue to manage the communities under an incentive-based management contract.
Welltower previously funded 34% of the development cost for the communities. San Francisco and San Diego metropolitan statistical areas for $218 million. Through another joint venture with Sunrise Senior Living, the REIT acquired the remaining 66% interest in five purpose-built, private pay seniors housing properties in the Washington, D.C. Welltower is also under contract to invest $92.7 million in three newly opened Discovery assets in Florida. The companies have signed a $1 billion exclusive development agreement, under which they are reviewing two new projects. The in-place occupancy throughout the portfolio, excluding the last phase of the Alliance Town Center, was 72% upon acquisition.Īs part of the deal, Discovery will manage the acquisition portfolio and its existing portfolio with Welltower. The total cost of the property will be $237.0 million after the completion of the last phase of Alliance Town Center development in Dallas-Fort Worth. The properties in the Dallas-Fort Worth and San Antonio metropolitan statistical areas were recently developed by South Bay. Welltower, along with its joint venture partner Discovery Senior Living, acquired three infill seniors housing campuses for $216.0 million through an off-market deal. The deal is expected to close in the third quarter, subject to customary closing conditions. The six-building campus will be master leased by Summit Medical Group under a new 20-year, absolute net lease. The portfolio's $24 million of secured debt was extinguished at closing.ĭuring the same month, the healthcare real estate investment trust struck a deal to buy a 43-acre, 270,000-square-foot medical office campus in Berkeley Heights, N.J., for $140 million.
The portfolio comprises 48 assisted living properties spread across Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. said it has fully exited its Benchmark Senior Living LLC portfolio with a sale in July for a gross price of $1.8 billion, with a potential to receive a further $50 million in earnout proceeds subject to certain future sale hurdles.
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