Newcastle Investment Corp. (NYSE:NCT), which made waves last year by acquiring 52 Holiday Retirement communities for $1 billion, has officially solidified its focus on senior housing. The real estate investment trust last week spun off its media-related investments into New Media Investment Group Inc. (NYSE:NEWM), which began trading on the New York Stock Exchange on February […]
Category: Acquisitions
Sabra Health Care REIT, Inc. (NASDAQ: SBRA) announced Tuesday its breakthrough into the Nebraska senior housing market with the acquisition of six properties for $90 million. The sale/leaseback transaction with Nebraska-based Nye Senior Services, LLC, comprises a total of 673 beds and units covering the continuum of care—292 skilled nursing beds, 213 independent living units […]
Ventas, Inc. (NYSE:VTR) is taking a ‘hakuna matata’ approach to its ability to compete with a growing number of non-traded real estate investment trusts entering the senior housing and healthcare market. “Our sector is large, it’s growing, it’s highly fragmented, and there are lots of opportunities,” said Ventas CEO Debra Cafaro during the REIT’s fourth quarter […]
Senior Housing News will be taking a brief pause in observance of President’s Day, but will return Tuesday, February 18. In the meantime, here are the top five stories grabbing Senior Housing News readers’ attention this week: Health Care REIT, Revera Overhaul Sunrise Management in Buyout Deal—Private equity is out when discussing the ownership of […]
Brookdale Senior Living says it’s actively seeking acquisitions in the fragmented senior housing industry via a “small, tactical” buying strategy or partnering up for larger portfolios. “We remain active in seeking acquisitions in a fragmented industry that has considerable potential for consolidation opportunities,” said CEO Andrew Smith during the company’s fourth quarter earnings call. The company […]
Private equity is out, and a senior housing operator is in for ownership of Sunrise Senior Living’s management company. Health Care REIT (NYSE:HCN) has agreed to recapitalize the management company and will move from owning a 20% interest in Sunrise to 24% once the deal closes. Terms of the deal were not disclosed. Revera Inc., […]
Senior Housing Properties Trust (NYSE: SNH) today agreed to acquire two Boston medical office buildings (MOBs) for $1.125 billion, following an announcement last month that the company would strengthen its focus on private-pay assets. The acquisition agreement includes SNH acquiring two 15-story biotech MOBs, which include a connected, three-level parking garage in Boston’s burgeoning Seaport […]
Fresh off the acquisition of senior living management company Encore Senior Living, LCS is beefing up activity outside of its traditional continuing care retirement community sweet spot. One of LCS’s top strategic objectives is to achieve diversification within the senior housing space, says executive vice president and chief development officer Joel Nelson, a strategy the […]
Senior living non-profit Presbyterian Senior Living is seeing opportunity to bring new life to an affordable senior housing community through a recent acquisition and forthcoming rebranding. Presbyterian Senior Living acquired The Shepherds in Monroe County, Pennsylvania in a deal that closed January 1, and will complete the transition to the new ownership by April, its […]
Housing & Healthcare Finance Closes $58M in HUD Loans During November and December Housing & Healthcare Finance closed a total of $58,789,000 in HUD loans. The loans included a total of $22.5 million in HUD Section 232/223(f) loans to refinance four skilled nursing facilities in Missouri. Another $19.4 million of loans were through the HUD […]
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