CNL Healthcare Trust Invests $21.5 Million in a Georgia Senior Housing Development
Investment strengthens the company’s growing senior housing portfolio
(ORLANDO, Fla.) Dec. 20, 2012 — CNL Healthcare Trust, a real estate investment offering focused on senior housing and healthcare real estate, will invest $21.5 million in the development of Dogwood Forest of Acworth, a senior housing community planned for Acworth, Ga., about 30 miles northwest of Atlanta.
Solomon Senior Living Holdings, LLC will serve as the project’s developer. Trinity Lifestyle Management, Solomon’s affiliated management company, will manage the community under a long-term agreement with CNL Healthcare Trust, which will own the facility.
“Dogwood Forest of Acworth aligns with our strategy to build a diversified portfolio that includes targeted ground-up development of needs-based senior housing in markets with attractive supply and demand fundamentals,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Trust. “We are excited to work with Solomon/Trinity, a proven developer and manager of high-quality senior housing communities with whom we have established a deep relationship.”
This is the second senior housing development project for CNL Healthcare Trust, which has also invested in a community now under construction in Lady Lake, Fla. Since February 2012, CNL Healthcare Trust has invested in 17 senior housing communities with a total value of more than $370 million.
Dogwood Forest of Acworth will be a three-story building totaling nearly 85,000 square feet. The 92-unit community will contain 46 assisted living units and 46 memory care units. Twenty-two of the 46 memory care units will be designated for residents in the earlier stages of Alzheimer’s disease, with the remaining 24 units serving residents requiring specialized memory care. The senior housing community will feature a bistro, barber/salon and media room, along with a dining room, common area living room and sitting areas located throughout the facility.
“We are very pleased to be working with CNL Healthcare Trust on this senior housing development,” said Alfred S. Holbrook III, chairman of Solomon. “We believe that, with CNL Healthcare Trust, we can create a community that will provide residents with the best possible care and service, while also creating an enjoyable living environment.”
Financial advisors can contact the managing dealer of the CNL Healthcare Trust, CNL Securities, member FINRA/SIPC, at (866) 650-0650 (www.CNLSecurities.com).
About CNL Healthcare Trust
CNL Healthcare Trust, Inc. is an investment offering that will seek to acquire properties in the senior housing and healthcare sectors, although it may also acquire other income-producing properties. The company intends to qualify as a non-traded real estate investment trust. CNL Financial Group, LLC is the sponsor of CNL Healthcare Trust. For more information, visit www.CNLHealthcareTrust.com.
About CNL Financial Group
CNL Financial Group (CNL) is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $26 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit www.cnl.com.
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