Category: Finance and Development

From Five Star to Startup: Evrett Benton, Stellar Senior Living

Evrett Benton, former president, CEO and co-founder of Five Star Quality Care, Inc. (NYSE: FVE), has always been an acquisitions guy. That’s how he helped one senior care company grow to more than 33 times its original size. That’s how he and existing real estate Read More »

Ventas Names SNF Spin-Off, Details Portfolio

The skilled nursing real estate investment trust (REIT) spin-off of Ventas, Inc. (NYSE: VTR) now has a name: Care Capital Properties, Inc. (CCP). Chicago-based Ventas announced the naming of the new REIT in a Form 10 filing with the U.S. Securities and Exchange Commission Thursday Read More »

NorthStar to Acquire $640 Million CCRC Portfolio

The Fountains at the Carlotta in Palm Desert, Calif.

NorthStar Healthcare Income Inc., a public, non-traded real estate investment trust, has agreed to purchase 15 continuing care retirement communities (CCRCs) from subsidiaries of Fountains Senior Living Holdings, LLC, in a deal totaling approximately $640 million. National senior living operator Watermark Retirement Communities Inc. will Read More »

In the Pipeline: Senior Housing Construction Projects (4/23/15)

Construction: Planned Legend Senior Living Proposes $80 Million Project for Golf Club Redevelopment Wichita, Kan.-based Legend Senior Living recently submitted a proposal to build an $80 million community as part of a 136-acre redevelopment of the Meadowbrook Golf & Country Club in Prairie Village, Kan., Read More »

Pharmacy Giant Omnicare Seeks Buyer: Reports

Omnicare Inc. (NYSE: OCR), the nation’s largest long-term care pharmacy, is rumored to be seeking a buyer, according to news reports. Company representatives declined to comment to Bloomberg, which originally reported on the potential sale Wednesday afternoon, citing unnamed sources with knowledge of the matter. Read More »

Distress Deals Present Growing Opportunity for Senior Living Buyers

Mid-sized senior living providers that are looking to grow have opted to build rather than buy lately, in part because they’ve been priced out of the acquisition market. But these operators soon could be seeing more opportunities to expand their footprints by purchasing — if Read More »

Wells Fargo Creates New Senior Housing Finance Group

Increasing demand to finance senior housing facilities has prodded Wells Fargo & Company (NYSE: WFC) to establish a new speciality group solely dedicated to the space, the company announced Tuesday.  Housed within Wells Fargo’s Commercial Real Estate Group, the company’s new Senior Housing Finance team Read More »

Senior Lifestyle Corp. Launches New Brand With $650 Million Pipeline

Development is booming for many existing senior living operators across the country. One top-10 operator is targeting growth not only across its current product offering, but also in rolling out an entirely new development pipeline aimed at a slightly higher price point. Two years ago, Read More »

Re-Setting the Stage for Senior Living Development

Feasibility studies. They’re conducted day in and day out by prospective builders, financiers and expansion hopefuls in real estate generally, and in senior living specifically. Factors such as population growth, density, concentration of potential adult children and competition are all considered, among other considerations. With Read More »

Senior Housing Investments & Transactions: Greystone, Avamere

Greystone Real Estate Advisors Close Sale on 180-Unit Property in Texas Greystone, a real estate lending, investment and advisory company, recently announced its Real Estate Advisors group has closed the sale of Aspens at Twin Creeks in Allen, Texas. Kayne Anderson Real Estate Advisors of Read More »