Aviv REIT acquires 28 properties for $305 million from Diamond Senior Living

Aviv REIT, Inc. ("Aviv" or the "Company") (NYSE: AVIV) announced today that it acquired 28 properties (plus an office building) for $305 million from Diamond Senior Living, LLC, a subsidiary of General Electric Credit Corporation of Tennessee (itself a subsidiary of General Electric Capital Corporation). All of the 28 properties are currently triple-net leased to new Aviv operator Laurel Health Care ("Laurel") at an initial cash yield of 8.5%, for a remaining term of 15 years. Laurel is headquartered in Westerville, Ohio and has been in the business of operating skilled nursing facilities ("SNFs") and other healthcare facilities for over 20 years. Laurel operates 42 facilities in five states, 28 of which Laurel will now lease from Aviv.