The Bridges at Warwick has been sold to National Health Investors, a real estate investment trust specializing in senior housing, for $50.2 million, writes Paul Schwedelson for the Philadelphia Business Journal.
The 107-unit assisted living and memory care community, located at 1600 Almshouse Road in Jamison, was previously owned by an affiliate of Orlando, Florida-based Bridge Senior Living.
Developed in 2016, the facility is currently operated by Priority Life Care under a five-year lease.
As part of the sale, the buyer and Priority Life Care agreed that the new owner would take over day-to-day operations at the property. NHI is able to both own and operate senior living facilities under a 2008 law.
Based in Murfreesboro, Tennessee, NHI concentrates on sale-leasebacks, joint ventures, and mezzanine financing within the senior housing and medical facility sectors.
The firm deployed roughly $400 million into property investments last year and had around $214 million in signed letters of intent in place by mid-last month.
The Bucks County acquisition was part of the REIT’s $89.2 million investment in four properties, which also included acquisitions in Alabama, South Carolina, and Texas.
Read more about National Health Investors’ purchase of Bridges at Warwick in Jamison in the Philadelphia Business Journal.
_______
