San Diego Business Journal

REIT Acquires Local Care Facility for $69.2 Million

Wednesday, November 23, 2011

Belmont Village Senior Living, an assisted living facility in Cardiff, has been purchased by an Ohio-based real estate investment trust for approximately $69.2 million.

According to CoStar Group, the facility was acquired on Nov. 7 by Health Care REIT Inc. of Toledo. The seller was Belmont Village LP of Houston.

The approximately 100,000-square-foot building is at 3535 Manchester Ave.

Health Care REIT has a real estate portfolio of more than $13 billion, including senior living communities, medical office buildings, inpatient and outpatient medical centers and life sciences facilities, according to its website. The company trades under the symbol HCN on the New York Stock Exchange.

— Lou Hirsh