The Real Deal Miami

Wellington nursing facility trades in sale-leaseback deal

New York REIT pays $41 million for NuVista Living community
October 22, 2014 12:30PM

NuVista Living at Wellington Green

NuVista Living at Wellington Green

The NuVista Living at Wellington Green community in Palm Beach County changed hands for about $41 million in a sale-leaseback.

A New York company tied to American Realty Capital Healthcare Trust acquired the 10330 NuVista Avenue facility in a transaction recorded on Wednesday, according to Palm Beach County records. The real estate investment trust already owns the Aventura Medical Plaza. No financing was recorded.

Chatsworth Real Estate Investors of Wellington is the seller. The company paid $483,381 for the 2.4-acre property in May 2009 and opened the 172-bed facility two years later.

As part of the deal, the buying company and Chatsworth agreed to a 15-year lease with three renewal options at five years apiece. — Eric Kalis