Healthpeak Properties is selling one of its Atria Senior Living-operated communities to a regional owner/operator acquiring its first Kentucky property. Located in Louisville, where Atria is headquartered, this community was developed in 2001 and features 203 units of independent living, assisted living and memory care. Ownership has changed over the years from Horizon Bay Retirement Living to CNL Retirement Properties to HCP to Healthpeak Properties. It has also seen a number of operators in its history, starting with Horizon Bay, and then Brookdale Senior Living took over in 2011.
That deal saw Brookdale acquire 100% of the equity interest in Horizon Bay and enter into agreements with the former HCP (the existing landlord at 33 of Horizon Bay’s 90 communities) to form a joint venture with the REIT to own and operate 21 communities, and lease the remaining 12 communities.
Finally, more recently HCP brought in Atria Senior Living to operate the community, although this property does not appear to have been a part of the 24-property operational transfer from Brookdale to Atria in March 2018.
Wickshire Senior Living, an owner/operator of seven communities in Indiana, Wisconsin, Ohio and Georgia, submitted a letter of intent on July 1 to acquire the community, with an anticipated closing date of October 1. No purchase price was disclosed.