JV to Close on $39.5M Acquisition of Frisco Senior Living Facility in February

NorthStar Healthcare Income, Inc., through a subsidiary of its joint venture with The Freshwater Group, Inc., has assumed the purchase and sale agreement with Parkview Frisco, L.P. for the purchase of a 202-unit independent living facility in Frisco, Texas.

The purchase price Is $39.5 million, plus closing costs and credits for certain capital expenditures.

The Joint Venture must close the acquisition of the Parkview Facility on or before March 3, 2014. Although there can be no assurance that the transaction will be completed, the Joint Venture says it expects to complete the acquisition of the Parkview Facility in February 2014.

The Parkview Facility is the third asset to go under contract through the Joint Venture, which has acquired a 125-unit independent living facility located in Milford, Ohio for $15.6 million, plus closing costs, and entered into a purchase and sale agreement to acquire a 184-unit independent and assisted living facility located in Denver, Colorado for $31.5 million, plus closing costs.