Senior Housing News October 22, 2024
Viva Senior Living has acquired eight communities formerly managed by Commonwealth Senior Living in a “significant step” for the company’s growth plans, COO Chris Metternich told Senior Housing News.
The newly acquired communities are located in Maryland, Tennessee and Virginia; and were previously owned by health care real estate company Invesque (TSX: IVQ.U and IVQ), which recently agreed to sell its interest in Commonwealth Senior Living and more than two-dozen communities operated by the company. Invesque first acquired the senior living operator in 2019 for $340.4 million.
The first seven communities as part of the deal were sold for $65.4 million total, which equated to $184,000 per apartment. Viva is also still finalizing the acquisition details of the eighth community,...
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