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 […]
Category: Acquisitions
Despite smaller transactions by dollar amount on average, 2013 showed a greater number of senior housing transactions than ever before, according to data compiled by NIC-MAP. The total dollar count for 2013, at #14.6 billion “pales in comparison” to the industry’s 2011 total of $27.4 billion, yet NIC points to the transaction count as marking […]
Nontraded real estate investment trusts have made a splash in the senior housing and healthcare real estate market in the last few months, with some investors pointing to their impact as 2014’s biggest deal driver. Similar to REITs that trade on public exchanges, nontraded REITs also invest in real estate and must also distribute at […]
LCS announced an agreement to acquire Encore Senior Living, a management company based in Portland, Ore. that operates nine communities across the country. Under the deal, Peter Muhlbach, Encore’s principal and several other key employees will join LCS and continue to manage the communities under the Encore brand. The acquisition becomes effective February 1, 2014, […]
The recently departed former CEO of senior housing and healthcare REIT HCP (NYSE: HCP) is making a new foray into health care real estate through a burgeoning partnership with NorthStar Realty Finance. Jay Flaherty, HCP’s former CEO who left the position abruptly in October, will work with NorthStar in a “long-term partnership to build a […]
Interwest Capital Corporation along with Angelo, Gordon & Co. recently purchased a Las Vegas senior housing portfolio out of foreclosure in an approximately $150 million transaction. The 2,113-unit Destination Living portfolio includes eight senior communities, among them the 344-unit Destinations at Valley View, the 416-unit Destinations at Pebble, the 271-unit Destinations at Spring Valley, and […]
Capital Health Group acquired a regional portfolio of seven senior housing communities on December 31, 2013. The eighth asset in the portfolio will close upon the successful assumption of the Department of Housing and Urban Development loan currently encumbering the community. The portfolio was sold by joint ventures composed of private investors and public REITs […]
Griffin-American Healthcare REIT II has acquired four continuing care retirement communities located in the Midwest from West Loop Holdings, LLC in a RIDEA-structured deal. The purchase price was about $300 million, according to unnamed sources close to the deal. The involved parties did not disclose the purchase price in documents filed with the Securities and […]
Skilled nursing mergers and acquisitions in 2014 are likely to be fueled by ongoing regulatory and reimbursement uncertainty and its impact on small operators, brokers and investors agree. “Our pipeline is deeper on the nursing home side because of the uncertainties,” says Jeremy Stroiman, CEO of brokerage firm Evans Senior Investments. The 2014 M&A opportunity lies with […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers’ attention this week: Freddie Mac Unveils New Senior Housing Product, Greystone First to Market—Freddie Mac released a revolving credit product specific for senior housing borrowers. Greystone was the first to secure the credit facility for a developer client, in […]
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