Senior Housing Properties Trust’s (NYSE: SNH) sale this week of two hospitals for $90 million looks to further reduce the company’s Medicare and Medicaid footprint and focus in on private pay senior housing assets in its portfolio. SNH announced December 31, 2013 that it closed the sale of two rehabilitation hospitals to a joint venture […]
Category: Acquisitions
Newcastle Investment Corp. (NYSE:NCT), a real estate investment trust managed externally by Fortress Investment Group (NYSE:FIG), made a major foray into the senior housing market with the $1 billion acquisition of a chunk of Holiday Retirement’s portfolio, and they’re gearing up for more. The REIT previously concentrated investments in CDOs (collateralized debt obligations) along with […]
Capital Senior Living Corporation (NYSE:CSU), recently announced it has completed the acquisition of four senior living communities in two transactions for a total of about $64.9 million. Located in Indiana and South Carolina, the communities have an aggregate 388 units, consisting of 48 independent living units, 257 assisted living units, and 83 memory care units. […]
Newcastle Investment Corp. (NYSE:NCT) announced today it has completed its acquisition of 51 independent living properties from an affiliate of Holiday Retirement for $1 billion. Total transaction costs amounted to $1.04 billion—the purchase price funded with $720 million of non-recourse, fixed-rate mortgage debt and $320 million of equity. The debt has a weighted average coupon […]
National Health Investors (NYSE: NHI) today completed the previously announced purchase of 25 former Holiday Retirement properties from Holiday Acquisition Holdings for a total of $491 million plus transaction costs. NHI initially announced the acquisition in November, following an announcement by Newcastle Investment Corp. (NYSE: NCT) that it would acquire a 52-property portfolio of senior housing […]
CNL Lifestyle Properties Acquires Colo. Senior Housing Community Senior living real estate investment trust CNL Lifestyle Properties has acquired MorningStar at Dayton Place in Aurora, Colo., for approximately $29.9 million. The senior housing community will continue to be managed by its current operator, MorningStar Senior Living, which currently has 21 properties under management or development […]
Similar to 2011 and 2012, the senior housing industry was no stranger to mergers and acquisitions in 2013, with transactions ranging in size from one or two properties to chunks of high-profile portfolios and even entire companies. We’ve gathered the top 10 U.S.-based transactions that were announced or closed throughout the past year, starting with […]
Contemporary Healthcare Capital Provides Acquisition Financing Contemporary Healthcare Capital, LLC has provided a $6,850,000 senior mortgage loan, a $1,250,000 mezzanine loan, and a $800,000 preferred equity loan to finance the acquisition of a 120 bed licensed assisted living and memory care facility located in Sumter, S.C. The funds will also be used for the renovation of the […]
In case you missed it, here at the top five stories grabbing Senior Housing News readers’ attention this week: AT&T Makes Entry Into Senior Care With New Product Launch—The international communications giant is rolling out a monitoring device supported by its national wireless network that is being marketed to senior care businesses including assisted living […]
Next year’s senior housing acquisition landscape is looking more favorable for company-to-company deals compared to the past year, but time for sellers to arrange favorable blockbuster deals is running low, some analysts say. Financial services firm Stifel Nicolaus met with management-level executives for 11 publicly traded REITs and two nontraded REITs all focused on the […]
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