FOREST CITY DISPOSES OF $70 MILLION SENIOR HOUSING PROPERTY

by admin

RYE BROOK, N.Y. — Cleveland-based Forest City Enterprises has disposed of Sterling Glen of Rye Brook, a supported-living senior housing facility located in Rye Brook. The 168-unit community traded at a price of $70 million. It was acquired by Atria Senior Living Group as part of a larger transaction, agreed upon in 2007, in which Atria has agreed to acquire a majority of Forest City’s supported living portfolio.

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