(ORLANDO, FL) September 29, 2015 - Sentio Healthcare Properties, Inc., ("Sentio" or the "REIT"), a real estate investment trust focused on healthcare-related real estate, announces significant growth in the company's senior housing portfolio, investing in the acquisition and development of nine, state-of-the-art projects in late 2014 and 2015. The new development assets include:
In addition to new development, Sentio has also acquired several new properties that include independent living, assisted living, and memory care communities in Massachusetts, Florida, Maryland and Ohio. Encompassing 549 units, several of these acquisitions are the result of repeat business with Sentio's operating relationships.
John Mark Ramsey, Sentio's President and CEO, described the Company's development growth this way, "While we continue to acquire stabilized properties, one of our main initiatives has been ground-up development and lease-up opportunities, many of which have been completed with existing partners. One example of this is Armbrook Village, a 118-unit independent, assisted living and memory care community, located in Westfield, MA, which opened in 2013. This is the third property owned and managed in partnership with Senior Living Residences. We believe that by aligning ourselves with superior assets and best-in-class operating partners, we will continue to achieve strong results for our shareholders."
About Sentio Healthcare Properties
Sentio Healthcare Properties, Inc. is a public, non-listed, real estate investment trust, which invests exclusively in healthcare-related real estate, and is committed to delivering strong and reliable returns to investors. The Company features a diversified portfolio of senior housing and medical properties throughout the United States. Their portfolio offers diversity in many areas including asset type, geographic location, operators and payor mix. The REIT is led by a team of healthcare real estate industry veterans at Sentio Investments, LLC, the REIT's advisor. Their core industry objective is to tailor a capital structure that complements the operating platform of developers and owner/operators, recognizing that each is unique in its approach and service to the healthcare industry.
Forward-Looking Statements and Securities Act Legends
Certain statements in this release containing the words "believes, "expects, and similar words, are "forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from results expressed or implied by forward-looking statements. Such factors include, among others: economic and business conditions, nationally and in regions in which Sentio will operate, relating to healthcare-related real estate; the availability of suitable investments at the relevant time; and whether all conditions to any drawdown of the committed funding can be satisfied at the relevant time. Given these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. Sentio disclaims any obligation to update any of the forward-looking statements contained herein to reflect future events or developments.
The securities referenced in this release have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release is not an offer to sell, or a solicitation of an offer to buy, any security.