Evans Senior Investments, headquartered in Chicago, Ill., recently announced the sale of a Colorado senior housing community for $28 million, or $225,000 per unit, to VTR Vistas Longmont LLC, which was formed by Chicago-based REIT Ventas, Inc. (NYSE:VTR). Built in 2009, The Vistas, located in Longmont, Colo., is a 124-unit independent and assisted living community […]
Category: Acquisitions
CNL Lifestyle Properties, Inc., based in Orlando, Fla., plans to add four assisted living communities to its portfolio for $80 million, excluding closing costs. The REIT will acquire the Georgia properties in May from Solomon Holdings II Dogwood Four LLC. The deal is still subject to due diligence and includes Dogwood Forest communities in Alpharetta, […]
Brookdale Senior Living recently purchased Grand Court retirement home from Ventas Realty Limited Partnership for $15.95 million, reports the Business Review. The buyer is listed as BLC Fort Myers-GC LLC, with Chicago-based law firm Barack Ferrazzano Kirschbaum & Nagelberg LLP listed on the deed. Grand Court is a 183-unit independent living facility that features a […]
The Ensign Group (NASDAQ:ENSG) announced on Wednesday that it had acquired Hillcrest Haven Convalescent Hospital, a 113-unit skilled nursing facility in Pocatello, Ida. The asset acquisition was effective on Thursday, March 1. “We look forward to enhancing the quality of skilled nursing care services provided to Hillcrest Haven’s present and future patients, and helping them […]
The Ensign Group, Inc. (NASDAQ:ENSG) announced on March 5 that its urgent care joint venture, Immediate Clinic LLC, has acquired Doctors Express, a national urgent care franchise system, effective Thursday, March 1. “The combination of the Doctors Express franchise system with Immediate Clinic’s company-owned walk-in clinics broadens our reach into the urgent care business,” said […]
CNL Lifestyle Properties, Inc., a public, unlisted REIT based in Orlando, Fla., recently acquired two Illinois assisted and independent living properties from Wilkinson Corp. of Yakima, Wash., for a combined $21 million. The Grand Victorian of Washington, located in Washington, Ill., sold for $11.1 million, and the Grand Victorian of Pekin, located in Pekin, Ill., […]
The seniors housing market enjoyed a blockbuster year in 2011, with merger and acquisition activity reaching its highest level since the sector’s peak years of 2006 and 2007. The $25 billion worth of transactions were conducted primarily by real estate investment trusts (REITs), which were responsible for almost $20 billion of those deals, according to […]
StoneGate Senior Living announced on Feb. 10 that it had completed the $1,894,080 purchase of approximately 6.7 acres of land on which it plans to construct a skilled care and rehabilitation center. The land is located in the Norman Regional Health System’s Medical Park West project, and is immediately adjacent to Normal Regional Health System’s […]
ARA National Seniors Housing Group, based in Atlanta, Ga., brokered the sale of The Blake at Gulf Breeze, an assisted living and memory care community located in Gulf Breeze, Fla. AEW Capital Management, a global real estate investment manager, acquired the 107-unit property for $24 million on behalf of AEW Senior Housing Investors, L.P. The […]
Health Care REIT, Inc.’s recent RIDEA-structure partnership with a Canadian REIT for a 42-property portfolio makes sense, says the U.S. company, considering extremely favorable market demographics of a large senior population and a growing demand for senior housing. “We have spent some time over the last year or so looking at different marketplaces and Canada we […]
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