Senior Living REIT Buys 13 Facilities In $141.7M Deal

Law360, New York (March 25, 2013, 6:24 PM EDT) -- Health care property developer Mainstreet Property Group plans to acquire 13 senior housing properties in North Carolina, Pennsylvania and Virginia for a total of $141.7 million, the company announced Monday.

Indiana-based Mainstreet, which is one of the largest senior housing developers in the country, said it will purchase the properties for its affiliated real estate investment trust HealthLease Properties REIT.

The deal is in line with the firm's strategy of acquiring "best-in-class" facilities and comes as the market for smaller health care facilities heats up....
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