MBK to Acquire Westliving Portfolio For $382 Million.
Irvine, CA-based MBK Real Estate will spend $382 million to buy nine senior living communities from Carlsbad, CA-based WESTliving.
MBK's parent company, Tokyo-based Mitsui & Co., announced the news on Wednesday. The transaction is expected to close late next month.
Mitsui said MBK will realize efficiencies in operating the nine WESTliving communities. The properties are located in Arizona, California and Washington, three of the six states where MBK already owns or manages communities as MBK Senior Living. MBK also has a presence in Colorado, Oregon and Utah.