HealthLease Properties Real Estate Investment Trust recently announced the completion of three development properties that were acquired from the Smith Packett Portfolio I earlier this year.

The properties consist of two assisted living/Alzheimer facilities and one Alzheimer facility located in North Carolina. There are 191 beds between the three properties.

The portfolio is triple-net leased to tenants affiliated with leading national operators of assisted living, memory care and skilled nursery facilities. Saber Health Care Group, LLC, will manage the 54-bed Alzheimer facility in Youngsville and the 77-bed combined assisted living/Alzheimer facility in Clayton. The 60-bed combined facility in Greensboro has been fully leased on a long-term triple-net basis to Meridian Senior Living.