Senior Housing Trust buys Lexington Manor

BUYER: SNH SE Properties Trust (Senior Housing Property Trust), Newton, Mass.

SELLER: Lexington Manor LLC

PROPERTY: 20480 Veterans Blvd., Port Charlotte

PRICE: $12.33 million

PREVIOUS PRICE: $6.8 million, December 2006

LAW FIRM ON DEED: Schell Bray Aycock Abel & Livingston PLLC, Greensboro, N.C.

PLANS, DESCRIPTION: Newton, Mass.-based Senior Housing Properties Trust purchased the 82-unit Lexington Manor assisted-living facility for $12.33 million.

The price equated to $150,412 per unit.

The Port Charlotte facility was purchased as part of a 20-facility portfolio acquired by Senior Housing Properties Trust.

“It was a package deal on that property, but in particular [this facility] was doing really well,” says David Hegarty, president and chief operating officer of Senior Housing Properties Trust. “Its occupancy was running in the low- to mid-90s.We will just try to build upon what the residents already have had there. We're a long-term investor.”

The real estate investment firm has hired Five Star Senior Living to manage the property.

As of June 30, Senior Housing Properties Trust owned 339 properties with 27,500 total units in 37 states.