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.
Source: Philly.com
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