Formation-Shelbourne Senior Living Services has disposed of two Class A seniors housing communities for a combined $98.25 million. The Solana Roseland in Roseland, New Jersey encompasses 118 assisted living and 53 memory care units and is located at 345 Eagle Rock Avenue just off Interstate 280 in northern New Jersey. The second property, The Solana Willistown in Willistown, Pennsylvania is located at 1713 West Chester Pike. The facility was completed in 2013 and was 94 percent leased at the time of the sale with an overall total of 74,222 rentable sqf. Holliday Fenoglio Fowler assisted the new owner, an unnamed institutional client, in securing a $63.86 million acquisition loan through Cornerstone Real Estate Advisers.
