CNL-Goldman Sachs Affiliate Deal Valued at $562M

ORLANDO-Locally based CNL Retirement Properties Inc., which has vaulted to the top of the national seniors housing acquisition market in only five years, is contracting to buy 20 properties totaling 3,600 units in two deals from affiliates of WHSLH Realty LLC for $156,111 per unit. The Whitehall Street Real Estate Funds, managed by New York-based Goldman Sachs & Co., owns WHSLH.

The acquisition grows CNL’s portfolio to 139 properties in 29 states. When the deals close later this quarter, 19 properties will be acquired in one transaction and one property in a separate transaction. All of the properties are managed by Tampa, FL-based Horizon Bay Senior Communities which will continue to oversee the assets for CNL.

“This strategic opportunity will enable CNL to further its position as one of the nation’s largest and most dynamic REITs in the seniors housing industry, with the addition of an impressive mix of independent and assisted living communities in a number of strong, demand-drive markets,” says Thomas J. Hutchison III, CEO and president of CNL Retirement Properties.