Pramerica Sells Five UK Retirement Facilities
Pramerica Real Estate Investors has sold a portfolio of five retirement housing facilities to a subsidiary of HealthCare REIT Inc, a US-REIT, for £154 million (€191 million).
Totalling 522 beds, the final five communities were held in two separate joint ventures between Sunrise Senior Living Inc and institutional funds managed by Pramerica. All opened in 2009, after they were set up in January 2005 and January 2007.
Pramerica Real Estate Investors is the property investment arm of US-based Prudential Financial.