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Highlights
Blackstone sold its Lake Barrington Woods senior living facility to Sabra Health Care REIT for $50 million, representing a significant discount from the $73 million it paid in 2017.
The 192-unit property, which Blackstone renovated in 2019, struggled with occupancy and revenue (debt service coverage ratio of 0.79) after the pandemic hit in 2020.
The sale is part of a broader selling spree by Blackstone in the Chicago suburbs, which also included a Joliet distribution center and The Streets at Woodfield shopping center, also sold at a deep discount.