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Wellington Healthcare Sheds 10 Facilities for $167M

WILTON, CT-Westport Capital Partners LLC, which holds a majority interest in Wellington with Reichmann International Development Co., orchestrated the sale to Griffin-American Healthcare REIT II.

By Miriam Lamey | Updated on February 01, 2012

WILTON, CT-The underlying commercial real estate in Wellington Healthcare Services’ skilled nursing facilities portfolio went for nearly $167 million in a transaction with Griffin-American Healthcare REIT II. It was sold by Westport Capital Partners and the Canadian-based Reichmann International Development Co. According to Westport, the medical office portfolio encompasses 1,364 beds at 10 facilities in the Southeast. Wellington affiliates entered into a master lease, which has an initial term of 15 years. Subsidiaries of Wellington will continue to operate the 10 facilities.

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