Healthcare REIT Ventas buys The Carlisle Naples

BUYER: Ventas Carlisle LLC (principals: Sheli Rosenberg, Douglas Crocker II, Debra Cafaro, Richard Riney, Ronald Geary and Brian Wood), Chicago

SELLER: Naples Club LLC

PROPERTY: 6961 Carlisle Court, Naples

PRICE: $82.25 million

PREVIOUS PRICE: $47.5 million, September 2005

LAW FIRM ON DEED: White & Case LLP, Miami

PLANS, DESCRIPTION: Chicago-based Ventas Inc. purchased the more than 300-unit The Carlisle Naples senior living community for $82.25 million.

The price equated to $4.63 million per acre.

The 17.78-acre highly amenitized senior community features assisted and independent living. It includes a restaurant-style dining facility with a private dining room, several activity rooms, a fitness facility, theaters, a business center, pool, spa and beauty salon. The community also features health care programs and services.

Its occupancy rate averages in the mid- to upper-90% range.

The property, which was previously owned by the private equity firm Starwood Capital, will continue to be leased and managed by Solana Beach, Calif.-based Senior Resource Group LLC.

“I think Ventas recognized it as a wonderful community in an excellent market and location,” says Tim Fox, executive vice president of Senior Resource Group. “It's found a niche in the market and people like what it offers. Naples doesn't have a high a barrier to entry as some other markets, but it is one of the better markets.”

Fox says the sale will have no impact on residents.

Ventas, an S&P 500 company, is one of the largest publicly traded real estate investment trusts and the largest health care REIT by equity value. Its holdings include seniors housing communities, skilled-nursing facilities, hospitals and medical office buildings.