Health Care REIT Acquires Wisc. Senior Housing Community for $38 Million

Health Care REIT, Inc. recently bought a senior housing community from a subsidiary of Senior Lifestyle Corporation for $38 million, reports CoStar.  The community consists of two apartment buildings located in Greendale, Wisc., with a total of approximately 250,300 square feet.  The properties were under contract for about two months prior to closing and were […]

Senior Housing Finance Activity: Health Care REIT, LTC Properties, Cambridge Realty (5/31/2012)

Health Care REIT Closes New $250 Million Canadian Loan with Accordion Feature Health Care REIT, Inc. (NYSE:HCN) announced on Thursday, May 24 that it had closed on a $250 million Canadian denominated unsecured term loan (approximately $244 million in U.S. dollars). The loan is coterminous with the REIT’s $2 billion (USD) unsecured revolving credit facility, […]

Five Star to Manage 10 SNH Properties After Sunrise’s Early Lease Termination

Senior Housing Properties Trust (NYSE:SNH) announced on Wednesday that it had entered into agreements for early terminations of leases for 10 senior living communities currently managed by Sunrise Senior Living (NYSE:SRZ). The senior housing REIT plans to lease the communities to its taxable REIT subsidiaries with Five Star Quality Care, Inc. (NYSE:FVE) as the new manager. […]

Harrison Street and Engel Burman to Buy Back Assisted Living Chain, Build More

Chicago-based private equity firm Harrison Street Real Estate Capital, LLC and development company The Engel Burman Group have agreed to purchase five senior living communities for $290 million from a Canadian-Australian joint venture partnership. Canadian REIT Chartwell Seniors Housing (TSX:CHS.UN) and ING Real Estate Australia Pty are selling the five-property Bristal-branded portfolio, all located in New […]

On the Record: Steven Insoft, CFO & COO of Aviv REIT

While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of […]

REIT Advisor: Ditch Debt for Best Multifamily Investment Returns

Real Estate Investment Trusts have been a major player in the senior housing acquisition and finance industry in recent years, having a low cost of capital and funds to invest in the sector. Whether REITs will stick around is another question, as they have comprised the vast majority of transactions over the past two years. […]

NHI to Purchase Texas Skilled Nursing Facility for $13.4 Million

Healthcare real estate investment trust National Health Investors, Inc. (NYSE:NHI) announced on Tuesday it has exercised an option to purchase and lease a new, stabilized skilled nursing facility located in Texas for a purchase price of $13.4 million. The facility opened at the end of 2010 with 125 beds and is operated by affiliates of […]

Crain’s: Sam Zell, Founder of Equity LifeStyle Properties, is a ‘Grandma Gouger’

Real estate investment trust Equity LifeStyle Properties’ founder and chairman, Sam Zell, can add a new epithet to his list, which includes ‘failed newspaperman’ and, perhaps most famously, ‘Grave Dancer’—he’s now being called a grandma gouger, reports Crain’s.  Zell’s company, ELS, owns or has ownership interest in nearly 400 resort communities across the United States, […]

Ventas Realty Suing Assisted Living Concepts for Lease Violation

On April 26, Ventas Realty, Limited Partnership, filed a lawsuit against Assisted Living Concepts, Inc. and its assorted entities, alleging the defendants are in violation of their lease with Ventas Realty due to several ALC entities facing state regulatory actions for violations of regulatory statutes. Ventas Realty, whose sole general partner is Ventas, Inc. (NYSE:VTR), is the landlord […]