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JV Picks Up La Jolla Retirement Condo Tower

A joint venture between NorthStar Healthcare Income Inc. and The Freshwater Group have acquired the retirement community Pacific Regent La Jolla as part of a $640-million portfolio deal. The asset is 188,005 square feet, 19 stories, and was previously owned by Health Care REIT Inc.

The total sale was a collection of properties that spanned 11 states.

Pacific Regent is part of University Towne Center. Watermark Retirement Communities Inc. will remain the operator of the asset, as well as other buildings in the newly acquired portfolio.

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