{"id":1004089031,"date":"2013-12-27T07:13:35","date_gmt":"2013-12-27T15:13:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004089031"},"modified":"2022-12-06T03:07:05","modified_gmt":"2022-12-06T11:07:05","slug":"capital-senior-living-acquires-4-properties-for-65m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-senior-living-acquires-4-properties-for-65m\/","title":{"rendered":"Capital Senior Living Acquires 4 Properties for $65M"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

Capital Senior Living Corp. has acquired four seniors housing properties for a combined purchase price of nearly $65 million. The properties are in Indiana and South Carolina, and total 388 units, consisting of 48 independent living units, 257 assisted living units, and 83 memory care units.<\/p>\n

The company hasn\u2019t disclosed detailed information about the individual properties yet, but did say that the four properties, in aggregate, were financed with about $49.3 million of 10-year fixed-rate non-recourse debt with an interest rate of 5.56 percent.<\/p>\n

Also, Capital Senior Living expects the properties to generate annual revenue of about $14.7 million. The properties are more than 95 percent occupied, with average rents of about $3,100 a month. The sales will be closed during the first quarter of 2014.<\/p>\n

Dallas-based Capital Senior Living, which currently owns 112 seniors housing properties, has been a major buyer in the segment in 2013, spending about $150 million for that purpose. Before the four aforementioned properties, the company bought a 64-unit assisted living property in Oakwood, Ga., for $11.8 million, and a 61-unit assisted living property in Middletown, Ohio, for $9.9 million, among others this year.<\/p>\n

Seniors housing remains a hot property type among investors because of generally strong fundamentals. According to the National Investment Center (NIC) for the Seniors Housing & Care Industry, during the third quarter of 2013, seniors housing fundamentals experienced steady absorption, increased construction activity — mostly focused on assisted living properties — but somewhat slower rent growth, driven by independent living properties.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Senior Living Corp. has acquired four seniors housing properties for a combined purchase price of $65 million. <\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742],"tags":[],"class_list":["post-1004089031","post","type-post","status-publish","format-standard","hentry","category-investment","category-medical-office","category-latest"],"acf":[],"yoast_head":"\nCapital Senior Living Acquires 4 Properties for $65M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capital-senior-living-acquires-4-properties-for-65m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Senior Living Acquires 4 Properties for $65M\" \/>\n<meta property=\"og:description\" content=\"Capital Senior Living Corp. has acquired four seniors housing properties for a combined purchase price of $65 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/capital-senior-living-acquires-4-properties-for-65m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-12-27T15:13:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T11:07:05+00:00\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Capital Senior Living Acquires 4 Properties for $65M\",\"datePublished\":\"2013-12-27T15:13:35+00:00\",\"dateModified\":\"2022-12-06T11:07:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/\"},\"wordCount\":246,\"commentCount\":0,\"articleSection\":[\"Investment\",\"Medical Office\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/capital-senior-living-acquires-4-properties-for-65m\\\/\",\"name\":\"Capital Senior Living Acquires 4 Properties for $65M - 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