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Real Estate
Jax Daily Record Monday, Nov. 25, 201905:20 AM EST

Welltower pays $34.3 million for Inspired Living center

The assisted living community was completed this year near James Island.
by: Scott Sailer Staff Writer

Ohio-based Welltower Inc., a health care real estate investment trust, paid $34.3 million Nov. 15 for Inspired Living at Jacksonville at 10520 Validus Drive.

Inspired Living at Jacksonville is an assisted living, memory care and independent living community near the James Island community.

Welltower acquired the facility through affiliate DSL Landlord II LLC.

The seller, St. Petersburg-based Senior Care Living of Jacksonville LLC, developed the 15-acre property with a 127,234-square-foot, three-story building and a one-story wing.

The facility comprises 109 assisted-living units, 43 memory-care units, wellness and fitness areas, restaurant-style anytime dining, a dog park, putting green, swimming pool, a pond with a pier and health care related services.

The facility was completed this year and is unoccupied.

The base building was constructed for $22 million.

Senior Care Living of Jacksonville LLC bought the property for $2.68 million from the Skinner family.

Welltower, a publicly traded company based in Toledo, says it invests with senior housing operators, post-acute care providers and health care systems to offer lower-cost treatment and fewer hospital stays.

Welltower owns senior housing, rehabilitation and outpatient facilities in the United States, Canada and United Kingdom.

Tara Gallagher, manager of media and communications at Welltower, said the company will not comment on the specifics of the transaction.

Mark Bouldin with Senior Care Living and president of Kronos Capital Inc. of St. Petersburg was unavailable for comment.

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