Greystone Real Estate Advisors closed the sale of a two-property senior living portfolio in Rhode Island, effective Dec. 20, the firm announced. Financial terms were not disclosed.
The properties are Chapel Hill in Cumberland and Smithfield Woods in Smithfield, both in Providence. They offer memory care, skilled nursing and assisted living.
The seller was a publicly-traded REIT, and the buyer was a partnership of GMF Capital, a New York-based private equity firm, and Meridian Senior Living LLC, which will operate the properties.
The buildings have a total of 272 units.
