In case you missed them, here are the top headlines grabbing Senior Housing News readers’ attention this week.
Brookdale and HCP to Acquire 35 Chartwell Communities for $849 Million—The senior living operator-owner duo agreed to purchase Chartwell’s entire U.S. senior living portfolio for $849 million. The portfolio will be acquired using a RIDEA joint venture structure with HCP and Brookdale owning 90% and 10%, respectively, of the 5,025 units. The properties are located in eight states with 46% of the portfolio being assisted living, 45% independent living, 5% memory care and 4% skilled nursing.
Brookdale Shareholders Push for Spin-Off Through Board Shake-Up—Following pressure from some shareholders to spin off the company’s real estate, Brookdale received more heat this week with the nomination of three new board members who spoke out about shifting the company’s course in favor of the spin-off.
Are CCRCs Doubling Down On Assisted Living, Memory Care?—CCRCs are largely scaling back on skilled nursing beds to make way for assisted living and memory care residents, according to findings from a recent Holleran Insight poll. Of more than 3,000 senior living industry members surveyed, 59% said they agree that CCRCs are moving in this direction.
The Biggest Opportunities, Threats for Nonprofit CCRCs—The economic outlook is leading to favorable tailwinds for nonprofit CCRCs, industry members agree, but while optimism has increased significantly, according to industry players Ziegler and Greystone Communities, there are still some remaining factors threatening future success: namely, competition from for-profit organizations.
American Realty Capital To Take REIT Public—An American Realty Capital, LLC-sponsored non-traded real estate investment trust (REIT) with senior housing at the core of its portfolio announced its intent Wednesday to go public. American Realty Capital Healthcare Trust II, Inc. (Healthcare Trust II) filed an application to list its common stock on a national stock exchange under the symbol “HTI,” after closing a $2.1 billion non-listed public offering earlier this year.
Written by Elizabeth Ecker