CNL Healthcare Properties buys Sparks senior facility
A 240-unit senior housing community in Sparks sold for $55.2 million, the buyer says in a filing with the Securities and Exchange Commission.
Bonaventure of Sparks, a community of independent living, assisted living and memory-care suites at 2360 Wingfield Hills Road, was purchased by CNL Healthcare Properties Inc., a real estate investment trust headquartered in Orlando, Fla.
It will be managed by MorningStar Senior Living LLC, a Denver company that has about 1,400 units under management or development in 16 communities.
The Sparks community will be rebranded as “MorningStar of Sparks,” the new owners said in an announcement last week.
It was acquired from a unit of Mountain West Senior Housing LLC of Salem, Ore.
The property built in 2009 was 48.3 percent occupied at the end of October, CNL Healthcare Properties said in its filing with the SEC.
The new owner of The Crossing at Tahoe Valley is Second Bay Holding Tahoe, LLC, based in Redwood City, Calif. The 46,041-square-foot center was originally constructed in 1973.