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Blackstone Group's recent acquisition of a portfolio of senior housing communities from Welltower includes a handful of Gulf Coast properties, property records indicate.
With the early April purchase, New York-based Blackstone entities now control the Heron House, Heron East and Heron Club at Prestancia assisted-living communities in Sarasota County and the Lake Howard Heights complex, in Winter Haven.
Combined, the four properties cost $61.2 million, records show. In all, Blackstone bought 25 senior living properties containing in excess of 3,600 units from Welltower for $747 million.
Blackstone officials declined to comment on the Welltower purchase, though a spokeswoman did say the investment firm continues to be interested in senior housing as an asset class.
Earlier this year, following the purchase of 60 senior living properties from Brookdale Senior Living, the nation's largest assisted-living operator, media reports speculated that Blackstone might acquire all of Brookdale's holdings. To date, however, that has yet to come to pass.
Institutional investors like Blackstone have been drawn to senior housing — especially in places like Florida — as a result of America's aging population and health care improvements that are causing many to live longer lives.
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