Ventas, Inc. (NYSE:VTR) saw its normalized funds from operations (FFO) skyrocket 114% to $259.3 million for the fourth quarter ended Dec. 31, 2011, thanks to acquisitions made in the period. “Ventas delivered excellent results in 2011, as our portfolio performed well while we successfully integrated over $11 billion of accretive acquisitions,” Ventas Chairman and CEO [...]
Following its announcement of expanding into Canada with a 42-property portfolio, Health Care REIT, Inc. (NYSE:HCN) released its earnings results for the fourth quarter ended Dec. 31, 2011, reporting a net income of $42.3 million. This represents an 8% decrease from 2010′s $46 million and may stem from the REIT’s rigorous recent acquisition activity. The [...]
GE Capital, Healthcare Financial Services announced in late January that it had financed more than $7 billion to customers in 2011 in more than 200 transactions, with a significant portion of that going toward financing senior housing and care. Last year was a good year for the company, according to senior managing director and head [...]
Lancaster Pollard Structures Financings for Four Ohio Senior Living Communities Lancaster Pollard recently facilitated $36 million of financing for four Ohio nonprofit senior living communities, led by senior vice president Kass Matt out of the firm’s Columbus, Ohio office. “We were successful in providing historically low interest rates while utilizing flexible and efficient financing vehicles [...]
The Ensign Group, Inc. (NASDAQ:ENSG) saw its net income drop 11.3% to $10.4 million, or $0.48 per diluted share, compared to the previous year’s $11.7 million for the quarter ended Dec. 31, 2011. The decrease was attributed to the 11.1% reduction in Medicare rates to skilled nursing facilities that went into effect on Oct. 1, [...]
Brookdale Senior Living, Inc. (NYSE:BKD) announced on Feb. 14 that it had recently completed the acquisition of nine senior living communities with a total of 1,295 units for an aggregate purchase prices of $121.3 million, as well as customary transaction expenses. Brookdale previously operated these communities, which were under long-term leases accounted for as operating [...]
There have been several stories in the news about continuing care retirement communities (CCRCs) landing in bankruptcy court to file for Chapter 11 protection and citing the economy as a reason for low censuses, but it’s possible the segment now has nowhere to go but up, the National Real Estate Investor reports. Bankruptcies in the [...]
HCP, Inc. (NYSE:HCP) saw its funds from operation per common diluted share plunge 40% to $0.37 in the fourth quarter ended Dec. 31, 2011 compared to the previous year’s $0.67, after the company agreed to pay Ventas, Inc. (NYSE:VTR) a $125 million settlement. In the fourth quarter, HCP reported total revenues of $461.6 million, a 35% increase from [...]
With healthcare real estate investment trusts (REITs) having such a low cost of capital, it’s often difficult for private equity firms to compete when it comes to stabilized, “Class A” senior housing and care assets, but there’s room for investment when it comes to turnaround deals and development. REITs are grabbing the “lion’s share” of [...]
