Investors - MAY 15, 2014

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Health Care REIT invests $386m in 10-property portfolio

by Andrea Waitrovich

Health Care REIT has invested $386 million to acquire a 47 percent joint venture interest in a premier-quality, West Coast senior housing portfolio managed by Senior Resource Group. The announcement was made on May 8.

The 10-property portfolio is concentrated in Southern California and also includes properties in Phoenix, Tucson and Portland, Ore. The majority of the units are independent living. Many of the properties also offer assisted living and/or memory care services.

The joint venture partners are the Senior Resource Group management team and the Public Sector Pension Investment Board, one of Canada's largest pension investment managers. The Senior Resource Group management and PSP ar

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