Aviv REIT Buys 3 Assisted Living Facilities In Florida For $13 Mln - Quick Facts

(RTTNews) - Aviv REIT, Inc. (AVIV) has acquired three assisted living facilities or ALFs in Florida for $13.0 million. The properties are triple-net leased to new Aviv operator Better Senior Living Consulting, an operator of ALFs with nine facilities in Florida.

The triple-net lease has an initial cash yield of 10 percent, initial lease term of 10 years and annual compounded escalators based on CPI.

Craig Bernfield, Chairman and CEO, of Aviv, "We are pleased to add another new operator relationship and to further diversify our portfolio by opportunistically adding three assisted living facilities."