Care Investment Trust Acquires Another Six Hollinger Communities for $54.5M

by Jeff Shaw

Care Investment Trust has acquired six communities throughout the Northeast from The Hollinger Group for $54.5 million in a transaction brokered by Senior Living Investment Brokerage.

This is the second time in as many months that Care Investment Trust purchased a multi-community piece of Hollinger’s portfolio as Hollinger attempts to exit the seniors housing sector.

The total Northeast portfolio includes 299 assisted living units with a capitalization rate of 7.48 percent and average occupancy of 94 percent.

The communities acquired are: Gardens At Cross Key in New Jersey, 59 units constructed in 2000; Graysonview Harrisburg in Pennsylvania, 80 units constructed in 1997; Allzwell Assisted Living in Virginia, 50 units constructed in 1986; Autumn AL at Bel Air in Maryland, 48 units constructed in 2002; Autumn AL at Cockeysville in Maryland, 30 units constructed in 1999; and Autumn AL at Hagerstown in Maryland, 32 units constructed in 1999.

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