The Real Deal Miami

HFF handles $569 million sale of senior housing

The commercial broker handled the sale of six properties including one in Parkland
March 05, 2016 12:00PM

Aston Gardens senior housing center in Parkland

Aston Gardens senior housing center in Parkland

Holliday Fenoglio Fowler, L.P. (HFF) announced the $569 million sale of six senior housing communities in Florida, including one in Parkland, that operate under the Aston Gardens brand.

HFF marketed the portfolio of properties behalf of  the seller, Kayne Anderson Real Estate Advisors.

A joint venture of the Canada Pension Plan and Welltower Inc. bought a 97.5 percent stake in the portfolio in an off-market transaction for $555 million.

Discovery Senior Living paid almost $15 million for the remaining 5 percent of the portfolio.

The Aston Garden portfolio includes six properties with a total of 1,930 units that serve primarily as independent living facilities for senior citizens.

The amenities at the properties include heated swimming pools, beauty salons, resident clubhouses, spas and fitness centers.

The six portfolio properties are located in Naples, Parkland, Sun City Center, Tampa and Venice.