Greystone Real Estate Advisors Closes Five-Property Senior Living Portfolio
NEW YORK–Greystone Real Estate Advisors announced it closed the sale of a five-property senior living portfolio in September 2018. The properties, which include independent living, assisted living, and memory care units, are located in New Mexico and Washington state.
Chevalier International Holdings Limited, a publicly listed company based in Hong Kong, purchased the portfolio from a publicly-traded REIT. Companies within the Avamere family of companies will lease the properties from Chevalier. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction.
The five properties comprise a total of 570 units and were built or renovated between 1989 and 2003, and represent part of a larger portfolio, for which the sale of 4 properties closed in July 2018. An additional property in the portfolio is anticipated to close for sale in November 2018.
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.