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Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Health Care REIT purchases Spotsylvania facility

A real estate investment trust that owns senior-living and healthcare-related properties all over the U.S. last month purchased the real estate at a Spotsylvania County retirement community.

Health Care REIT Inc. bought the real estate at Chancellor’s Village for $16.3 million, according to Spotsylvania property records. Chancellor’s Village offers assisted and independent living to senior citizens.

The trust purchased the facility from an entity of Chicago-based private equity real estate investment firm Walton Street Capital, which paid $16.68 million for it in 2005 according to Spotsylvania property records.

Senior Lifestyle Corp. will continue to operate the facility, and the sale isn’t expected to affect Chancellor residents. Senior Lifestyle will now lease the facility from a different landlord.

Senior Lifestyle has run Chancellor’s Village since 2005. The company that is now named Mary Washington Healthcare had owned and operated the facility prior to the 2005 sale.