A newly formed private equity firm made its initial foray into senior housing, and sees an opportunity to work with the operator to unlock value in what is a mostly stable collection of communities. Twin Light Capital acquired 10 Diamond Willow Assisted Living communities across Minnesota, as well as Keystone Bluffs Assisted Living in Duluth, […]
NorthStar Realty Finance Corp.
James F. “Jay” Flaherty III may be making a return to senior living, if Land & Buildings Investment Management has its way. The Stamford, Connecticut-based real estate investment firm will nominate Flaherty, along with L&B founder and Chief Investment Officer Jonathan Litt, to the board of directors of Brookdale Senior Living (NYSE: BKD) at the […]
Chinese investors have played major roles in recent blockbuster senior housing deals in the United States, and now the action is spreading north of the border. Beijing-based Anbang Insurance Group is poised to buy a majority stake in Vancouver-based Retirement Concepts for a reported $744 million. While confirming the deal is underway, Retirement Concepts has […]
Another activist shareholder has come out strongly against the planned merger between Colony Capital Inc. (NYSE: CLNY), NorthStar Realty Finance Corp. (NYSE: NRF) and NorthStar Realty’s current external manager NorthStar Asset Management Group Inc. (NYSE: NSAM), citing concerns about the combined company’s governance and value to shareholders. Real estate investment trust (REIT) NorthStar Realty Finance, a […]
CareTrust REIT Buys $34.4 Million Portfolio in California CareTrust REIT, Inc. (Nasdaq: CTRE) acquired two senior housing communities and two skilled nursing facilities (SNFs) in California’s Central Valley for approximately $34.4 million. The portfolio includes 79 assisted living units and 293 skilled nursing beds. It is currently leased to affiliates of California-based Covenant Care, LLC. […]
It’s been a busy week in the senior living industry. Our coverage included a recently released report that noted how emotional labor takes its toll on senior living’s frontline staff, and how a merger between NorthStar and Colony is set to create a $17 billion real estate investment trust (REIT). Readers were eager to learn […]
One activist shareholder is slamming the “management cronies” involved in the $17 billion merger of three major real estate companies, saying there is “woefully inadequate” value to shareholders in the transaction. Jonathan Litt, founder and chief investment officer of New York-based hedge fund Land & Buildings, slammed special committee members of NorthStar Asset Management […]
It’s starting to feel like summer at our Chicago headquarters, and we were eager to bring our readers the latest buzz from the industry this week. Everyone was interested in the latest news from the nation’s largest senior housing provider, including its upcoming plans for the year and a new wellness program for brain health. […]
NorthStar Realty Finance (NYSE: NRF), a real estate investment trust that is a major owner of senior housing real estate, will be merging with its current external manager, NorthStar Asset Management (NSAM), and private equity firm Colony Capital Inc. (NYSE: CLNY). The all-stock merger is expected to create a diversified global equity REIT with a […]
NorthStar Realty Finance (NYSE: NRF), a significant owner of senior housing properties, could merge with Colony Capital Inc. (NYSE: CLNY) and NorthStar Asset Management Group (NYSE: NSAM) into a single real estate investment trust if talks currently underway result in a deal, the three companies recently confirmed in a joint statement. The news comes several […]
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