{"id":1004025744,"date":"2011-01-12T06:13:17","date_gmt":"2011-01-12T14:13:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004025744"},"modified":"2022-12-09T02:05:37","modified_gmt":"2022-12-09T10:05:37","slug":"cnl-acquires-29-senior-housing-communities","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cnl-acquires-29-senior-housing-communities\/","title":{"rendered":"CNL Acquires 29 Senior Housing Communities"},"content":{"rendered":"<p>January 12, 2011<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004025745\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004025745\" data-attachment-id=\"1004025745\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cnl-acquires-29-senior-housing-communities\/patrick-doheny\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg\" data-orig-size=\"500,349\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Patrick Doheny\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Patrick Dohney&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg\" alt=\"\" title=\"Patrick Doheny\" width=\"300\" height=\"209\" class=\"size-medium wp-image-1004025745\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/Patrick-Doheny.jpg?resize=300,209 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004025745\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Patrick Dohney<\/p><\/div>\n<p>CNL Lifestyle Properties has made its entry into the senior housing market, having closed on of a 29-property portfolio spread across 12 states. The transaction, which was valued at $630 million, was made through a joint venture with Sunrise Senior Living Inc.<\/p>\n<p>Per the agreement, CNL will own 60 percent of that joint venture, while Sunrise will own the remaining 40 percent and operate the communities under a long-term management agreement. <\/p>\n<p>According to CNL president &amp; CEO Byron Carlock, the transaction creates a total $3.1 billion portfolio of assets that appeal to individuals at all stages of life. He added that it further enhances the firm\u2019s investment profile at a time when demand for senior communities is increasing.<\/p>\n<p>With the Baby Boomer generation nearing retirement, Carlock\u2019s assertion may well be correct. As the oldest members of the generation turn 65, more and more will be seeking senior housing in the coming years.<\/p>\n<p>A real estate investment trust, CNL has a 151-property portfolio in the United States and Canada in the lifestyle and recreation sectors. Sunrise Senior Living operates approximately 320 communities in the United States, Canada and United Kingdom, with a unit capacity of 31,200 units.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate investment trust marks its entry into the market with a transaction valued at $630 million.<\/p>\n","protected":false},"author":936,"featured_media":1004025745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,21808,37775,21754,21742,37776,37777,37778],"tags":[],"class_list":["post-1004025744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-dividend-yield","category-featured","category-rc-forward-affo-payout-ratios","category-medical-office","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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