20 Aug 2014
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Bristal in Massapequa to be Sold

Former owner buys back senior housing facility.

Bristal in Massapequa to be Sold

at Massapequa and four other senior housing properties have been sold back to the ownership group that parted with them five years ago.

The Engell Burman Group paid $290 million for the assisted living facilities to Chartwell Seniors Housing Real Estate Investment Trust of Ontario and ING Real Estate of Australia, according to Chartwell's website.

Engell Burman had previously managed the properties for Chartwell and ING since selling it to them in 2007.

They're expected to assume about $200 million of the seller's debt and sale is expected to close in the fourth quarter of 2012.

The Bristal in Massapequa opened in 2006. They provide studio, one bedroom and two bedroom apartments as well as some suites.

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