REIT buys Clifton Park memory-care residence for $15 million
Beacon Pointe Memory Care Community, a 52-bed residence in Clifton Park, New York, for people with Alzheimer’s disease, sold for $15 million. The facility at 1 Emma Lane, off Route 146, was bought by HCP Inc. (NYSE: HCP), a real estate investment trust based in Long Beach, California. Beacon Pointe is one of 133 senior housing communities that HCP acquired for $1.7 billion from a joint venture between Emeritus Corp. (NYSE: ESC) and Blackstone Real Estate Partners VI. The acquisition, which was…
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