CPPIB partners in $555 mln buy of Florida seniors housing
Canada Pension Plan Investment Board (CPPIB) and Welltower Inc (NYSE: HCN) have formed a joint venture to buy a 97.5 percent interest in a portfolio of seniors housing properties in Florida, known as Aston Gardens. The purchase price for the interest was US$555 million. With the deal's closing, CPPIB owns 45 percent of the joint venture, while Welltower owns the rest. Ashton Gardens, which consists of six private-pay, primarily independent-living senior living communities, is operated by Discovery Senior Living (DSL). DSL holds a 2.5 percent stake in the properties.
18 February 2016•3 mins read
