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Commercial Real Estate
Business Observer Friday, May 17, 2019 1 week ago

HCP buys pair of Discovery Village senior housing communities

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Senior housing giant expands footprint throughout the Gulf Coast
by: Kevin McQuaid Commercial Real Estate Editor

Senior housing giant HCP Inc. has invested nearly $85 million for a pair of Discovery Village communities in Fort Myers and Bradenton, according to county property records.

The Irvine, Calif.-based company, which in all owns some 750 senior housing communities, hospitals and medical office buildings nationwide valued at nearly $13 billion, acquired the Discovery Village at The Forum and Discovery Village at Sarasota Bay from entities controlled by Kayne Anderson Capital Advisors L.P., of Boca Raton.

Discovery Village at The Forum, in Lee County, is a 272-unit complex with independent living, assistewd living and memory care facilities. HCP valued the 272,000-square-foot complex, which opened in 2017 at 2619 and 2631-2645 Forum Blvd., at $60 million.

Discovery Village at Sarasota Bay, at 1414 69th Ave. W, in Manatee County, contains 126 units of independent and assisted living along with memory care. HCP valued that property at $24 million.

Officials from HCP, the first-ever healthcare-oriented real estate investment trust on the Standard & Poor’s stock index, did not return telephone calls for comment.

In addition to the Bradenton and Fort Myers’ projects, HCP along the Gulf Coast also owns senior housing projects or hospitals in Clearwater, St. Petersburg, Sarasota, Venice, Naples, Tampa, Punta Gorda, Port Charlotte and Sun City Center, according to its website.

 

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