MidCap Financial Arranges $7.9 Million Loan for Skilled Nursing Facility in Arizona Commercial finance company MidCap Financial recently arranged a $7.9 million, fixed-rate HUD 232/223(f) loan to refinance a 137-bed, 69-room skilled nursing facility in Sun City West, Arizona. The financing was arranged by MidCap Financial Housing Capital Inc. Managing Director Brett Patrick. Ziegler Closes […]
The busiest senior housing underwriter in the country last year wasn’t a large, multinational financial corporation—instead, it was an investment bank a fraction of that size. Chicago-based specialty investment bank Ziegler was the top health care/senior living municipal underwriter by number of financings in 2016, with 80 bond issues worth about $4.46 billion, according to Thomson […]
Happy Monday! Here’s last week’s most-read news: HCP Inc. (NYSE: HCP) hired Scott Brinker as its new chief investment officer, and Welltower (NYSE: HCN) responded to the appointment with a lawsuit. Not-for-profit post-acute providers in Illinois have a plan to go up against Symphony Post Acute Care Network—and other for-profits— and win. Tana Gall, CEO […]
The words “Symphony Post Acute Network” can send shivers down the spines of many not-for-profit post-acute providers, and for good reason. The Chicago-based, for-profit post-acute care operator poses fierce competition for several not-for-profits in the Chicagoland area, where it operates most of its 28 buildings—including some newer properties that are state-of-the art. Now, however, not-for-profit […]
Competition seems to be ramping up among senior housing owners seeking deals, and an expected shift in pricing might be why. In fact, executives at Murfreesboro, Tennessee-based National Health Investors (NYSE: NHI) have been “in a trance” over senior housing cap rates—and they believe other senior housing owners have been, too. “We’ve been in a trance […]
Ziegler Closes $54.05 Million Financing for CCRC Operator in California Chicago-based speciality investment bank Ziegler recently announced the closing of the $54,045,000 tax-exempt, fixed-rate Series 2017 financing for Channing House, a California not-for-profit 501(c)(3) company that operates a continuing care retirement community (CCRC) in Palo Alto, California. The CCRC has 191 residential living units, 26 […]
HCP Inc. (NYSE: HCP) has added a familiar face as its chief investment officer—but a former employer of the new executive has responded to the appointment with a lawsuit. HCP’s plans are for Scott Brinker to join the Irvine, California-based real estate investment trust (REIT) as its executive vice president and CIO, effective Jan. 4, 2018. Brinker will report […]
Following its planned $7.4 billion merger with Care Capital Properties (NYSE: CCP), Sabra Health Care REIT (Nasdaq: SBRA) will be the eighth-largest health care real estate investment trust (REIT) in the country—but that’s not the company’s end goal. Rather, the Irvine, California-based REIT aims to eventually become a far more competitive player in the senior housing deal […]
Welltower Inc. (NYSE: HCN) sees big opportunities for medical office and senior housing real estate. In fact, the $2.75 billion sale of Duke Realty’s medical office building portfolio, announced this week, was a major topic of discussion Friday on Welltower’s first quarter 2017 earnings call. Thomas DeRosa, CEO of the Toledo, Ohio-based real estate investment trust, admitted that Welltower had been interested […]
Happy Monday! It’s a busy time in the senior housing industry as public companies begin to share their latest financial results. It’s also a busy time in “funny hat” news, due in part to one half of an athletic elderly couple. Here’s what you may have missed last week: HCP Inc. (NYSE: HCP) is on […]
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