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Ventas Sells Centers To Pay Down Debt.(Commercial)
Chicago-Health care real estate investment trust Ventas here has closed on the sale of four seniors housing units to affiliates of Benchmark Assisted Living for an aggregate sale price of $58.7 million. The assets are located in Massachusetts and contain 403 units.
According to Ventas, the purchase price represents an 8.5% capitalization rate on cash rent.
The sale was made pursuant to a purchase option that Benchmark held, which was in place prior to Ventas's ownership of the properties.
Prior to the sale, ...
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Source: HighBeam Research, Ventas Sells Centers To Pay Down Debt.(Commercial)