Stephen A. Schwarzman Of Blackstone Acquires Senior Housing In Lake Barrington For $50M

The property asset involved in this transaction is a 192-unit senior housing community located at 22320 Classic Court in Lake Barrington, which has a sale price of $50,000,000. This senior living community is noted for its location in the Lake Barrington market.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $50,000,000
• Buyer: Stephen A. Schwarzman
• Buyer's Company: Blackstone
• Seller: Rick Matros
• Seller's Company: Sabra Health Care REIT, Inc.
• Units: 192
• Price Per Unit: $260,417

Rick Matros represented Sabra Health Care REIT, Inc. in the sale of the property, which was previously acquired by Blackstone for $73 million in 2017. This transaction reflects significant market shifts, as it occurred following occupancy struggles after the pandemic.