Senior Housing Trust Acquires 35 Properties for $165M

NEWTON, MA-Senior Housing Properties Trust committed to purchase 35 senior-living properties from Five Star Quality Care Inc. for $165 million. This commitment was made in connection with Five Star’s recently announced agreement to acquire LTA Holdings Inc.–formerly known as LifeTrust America, Inc.–privately owned company that owns and operates senior living communities in the southeastern US.

Upon completion of Five Star ‘s acquisition of LTA, Senior Housing Properties, a locally based REIT, will purchase 35 independent- and assisted-living communities from Five Star that were previously owned by LTA. Concurrent with the purchase, Senior Housing Properties will also enter a long-term triple-net lease arrangement with Five Star for the same properties.

The 35 communities that SHP will acquire have 1,880 independent- and assisted-living units. In Tennessee the firm acquired eight communities totaling 477 units; in Virginia, there are four communities totaling 396 units; in South Carolina there are eight communities totaling 346 units; in Georgia there are seven communities totaling 287 units; in Kentucky there are four communities totaling 193 units; and, in Alabama there are four communities totaling 181 units.