May 14, 2020
Parkland FL Senior Housing Propco, an affiliate of Kayne Anderson Real Estate Advisors, has acquired Aston Gardens at Parkland Commons, a 325-unit senior living facility in Parkland. The sales price was $55.7 million.
The seller was a subsidiary of Welltower, which had acquired the property for $78.6 million in 2015. The Toledo, Ohio-based REIT has recently felt pressure on its national senior living portfolio as the Covid-19 pandemic has made it difficult to secure new residents. Occupancy rates have recently declined.
Built in 2002, the 349,250-square-foot facility was constructed in 2002 and has independent living, assisted living and memory care units.
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