CNL Healthcare Properties II has acquired the newly constructed Summer Vista Assisted Living Community in Pensacola, Florida, for $21.4 million. The center consists of 67 assisted living units and 22 memory care units. Community amenities include a 24-hour emergency response system, on-site therapy, nature walking trail and chauffeured transportation. SRI Management, which has managed the facility since its opening in February 2016, will continue managing the community under a five-year management agreement. The purchase marks the first acquisition for CNL Healthcare Properties II.
“We are pleased to make such a high-quality investment, with a trusted operating partner, as the first addition to our portfolio,” says Stephen H. Mauldin, president and CEO of CNL Healthcare Properties II. “It is exciting to begin executing on our strategic plan and thoughtfully deploy our shareholders’ capital in a dynamic healthcare real estate environment.”
