Cambridge Announces Two Refinancing Transactions, See Strong Start to Q4 2010
Cambridge Realty Capital recently announced the completion of two refinancing transactions for facilities located in Illinois totaling over $7.5 million dollars. The company refinanced the Crystal Pines, a 114 bed skilled nursing home facilities located in Crystal Lake, Illinois and also reported closing a $1.62 million FHA-insured HUD first mortgage loan for Villa Vianney Apartments, a 54-unit age-restricted, market-rate elderly apartment building in Sherman, Ill.
The company also is seeing a strong surge in loan requests during the first part of the fourth quarter as it processed 27 loan origination requests totaling $505.7 million during the month of October.
Health Care REIT, Inc. Completes $503.1 Million Common Stock Offering
Health Care REIT, Inc. (NYSE:HCN) announced this week that it has completed its public offering of 11,500,000 shares of common stock at a price of $43.75 per share for total gross proceeds of $503.1 million. HCN stated that it intends to use the net proceeds from this offering for general corporate purposes, including investing in health care and senior housing properties.
IPC The Hospitalist Company Acquires Long-Term Care Provider Group in Colorado
IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) has acquired Senior Care of Colorado, PC (SCOC) headquartered in Aurora, Colorado. SCOC provides geriatric care at more than 200 facilities in the Denver metro area and has annualized volume of more than 200,000 patient encounters. This acquisition represents an expansion of operations for IPC in Colorado, where the company has provided acute care hospitalist services since 2003.
"The acquisition of SCOC represents continued expansion for IPC into the long-term care arena, providing IPC with the opportunity to further improve the management and coordination of care for seniors that move between different types of facilities as their condition warrants. Working in concert with IPC’s acute care hospitalist practices, we believe the providers at SCOC will be able to deliver an improved and more comprehensive care experience for patients and their families," said Adam Singer, MD, Chairman and CEO of IPC.