Apple Blossom Special
by January 20, 2014 12:00 am 80 views
Here’s a price tag that caught our attention: $491 million.
That was the purchase price paid by National Health Investors Inc., a publicly traded REIT based in Murfreesboro, Tenn., for 25 independent living facilities owned by Holiday Retirement Corp., a privately held company in Lake Oswego, Ore.
The deal was finalized just before the end of the year. All of the facilities, according to NHI, will still be operated by affiliates of Holiday Retirement.
One of the assets in that deal? Apple Blossom Retirement Residence at 2501 N. 22nd St. in Rogers, which changed hands for $27.75 million.
Apple Blossom opened in 2003 and has 119 separate living quarters comprised of studio, one-bedroom and two-bedroom units.
Butterfield Place, a 117-unit community at 8410 Phoenix Ave., in Fort Smith, was also part of the deal, which involved properties in 12 states.