Healthcare Trust Buys In San Diego

September 11, 2019, Ben Swett, SeniorCare Investor - It’s been a while since we’ve seen Healthcare Trust Inc. as a buyer in the seniors housing market.  Well, the public, non-traded REIT has acquired a 91-unit/117-bed senior living community in San Diego, California, for an undisclosed price.

There are 53 assisted living and 38 memory care units (64 beds) in the two-story building, which was built in 2015 on a 4.3-acre site.  The quality of the building is apparently quite high, and the community was over 90% occupied.

Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker, Tim Hosmer and Bailey Nygard made up the Cushman & Wakefield team that served as exclusive advisor to the seller, Torrey Pines Development Group.