LAKE FOREST, Calif. — Summit Healthcare REIT Inc., a non-traded REIT based in Lake Forest, has acquired partial interest in two skilled nursing facilities in the Northeast for $27 million.
The specific facilities, locations and sellers were not disclosed. The portfolio totals 318 licensed beds. In both cases, the existing operators will continue to manage the facilities.
Summit made the acquisitions through Summit Fantasia Holdings II LLC, a joint venture between Summit and Fantasia Holdings Group. This is the second acquisition for the partnership.