Bedell Cristin acts on acquisition by Health Care Reit, Inc.
Bedell Cristin has acted for new client Health Care REIT, Inc. on the acquisition of a portfolio of five residential care homes in the UK.
Health Care Reit, Inc ("HCN") is a leading US real estate investment trust with a $15.8 billion portfolio spanning the full spectrum of health care real estate.
The acquisition represents a significant addition to the HCN senior housing brand.
The homes were held by two joint ventures between a subsidiary of Sunrise Senior Living and subsidiaries of an institutional investor. HCN acquired 100% of the shares in the UK and Jersey holding companies which own and operate each of the homes. The acquisition is linked to the US$1.9 billion acquisition by HCN of Sunrise Senior Living in the US.
The team was led by corporate partner Bruce Scott with lead associate Andreas Elofs.
Bedell Cristin acted alongside Nabarro in the UK.