Orlando, Fla., Sept. 14, 2017 (GLOBE NEWSWIRE) --
CNL Healthcare Properties, a non-traded real estate investment trust (REIT) invested in seniors housing and healthcare properties, continues its focus on maximizing operating performance across its portfolio and completing its most recent expansion project. Reflecting these efforts, the same-store net operating income across the portfolio rose 8.3 percent during the quarter ended June 30, 2017, as compared to the quarter ended June 30, 2016. Overall, same-store net operating income for the six months ended June 30, 2017, increased by approximately $6.6 million as compared to the same period in the prior year.
As of June 30, 2017, CNL Healthcare Properties had invested more than $3 billion, building a portfolio of 142 assets in 34 states, including 71 seniors housing communities, 54 medical office buildings, 12 post-acute care facilities and five specialty hospitals.
“CNL Healthcare Properties has acquired a young, dynamic and diversified portfolio of seniors housing and healthcare properties, and we have complemented our portfolio meaningfully through targeted ground-up development and expansion projects,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Properties. “We are now focused on turning our full attention to the seasoning of our holdings and completing our last, planned construction project as we seek to drive incremental value for shareholders.”
CNL Healthcare Properties declared more than $18.5 million in distributions for the quarter ended June 30, 2017, 100 percent of which were covered by operating cash flows. The company also recently raised its cash distributions by 10 percent to $0.11639 per share, effective for the third quarter of 2017.
Over the last 15 years, CNL Financial Group has been especially active in the seniors housing and healthcare sector. As of June 30, 2017, CNL-sponsored companies have invested in seniors housing and healthcare real estate investments valued at more than $10 billion collectively.
About CNL Healthcare Properties
CNL Healthcare Properties, Inc., is a real estate investment trust (REIT) that focuses on acquiring properties in the seniors housing and healthcare sectors, including stabilized, value-add and development assets, as well as other income-producing properties, real-estate related securities and loans. CNL Financial Group, LLC is the sponsor of CNL Healthcare Properties. For more information, visit cnlhealthcareproperties.com.
About CNL Financial Group
CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.
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