Prudential unit buys Chester County senior community as part of $98.3M package
A unit of Prudential Financial Inc. has acquired a pair of senior housing communities, including one in Chester County's Willistown Township, from a venture involving Radnor-based Shelbourne Capital L.L.C.
A unit of Prudential Financial Inc. has acquired a pair of senior housing communities, including one in Chester County's Willistown Township, from a venture involving Radnor-based Shelbourne Capital L.L.C.
PGIM Real Estate purchased The Solana Willistown, along with The Solana Roseland in the New York suburb of Roseland, N.J., Prudential spokesman Brendan Duffy said in an e-mail on Tuesday.
Formation-Shelbourne Senior Living Services sold the communities as a package for $98.3 million, according to a release from commercial real-estate services firm HFF, which marketed the properties.
HFF also assisted the new owner in securing a $63.9 million acquisition loan through Cornerstone Real Estate Advisers, it said.
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