One of Summit Healthcare REIT's holdings is Pennington Gardens, an assisted living facility in Chandler, AZ
LAKE FOREST, CA—Summit Healthcare, REIT, Inc. reports today it has paid $125 million for an interest in 14 skilled nursing/assisted living facilities in the State of Indiana.
The deal, which closed on March 13, was for a total of more than 1,100 licensed beds. The respective properties were acquired 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. The properties will be leased back to the seller on a triple-net basis.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
