HCP (NYSE: HCP) reported strong operating results for the third quarter with funds from operations adjusted per share up 14% to $0.79 and FFO per share up 9% to $0.73 per share. Net income attributable to common shares was $233 million during the quarter, up from $196 million in the third quarter of 2012. The company […]
Category: Acquisitions
While future strategy is generally a motivating force when two parties enter a joint venture, shared vision is crucial for RIDEA-structured deals between senior-housing focused real estate investment trusts and operators. “A RIDEA structure aligns the interests of both parties—the owner and operator are both invested in the operations of the community, and can leverage […]
CNL Healthcare Properties announced today it has secured a $120 million corporate credit line that will fuel future acquisitions in the senior housing and medical office building sectors. The credit line includes an accordion feature that allows CNL the option to expand the credit line to $325 million, through an arrangement made by KeyBank N.A. […]
A majority of senior housing executives believe interest rates will be the biggest driver for cap rates going forward, indicates a new survey conducted leading up to the 2013 National Investment Center (NIC) for the Seniors Housing & Care Industry conference, but investors are keeping an eye on new construction as well. For 2014, executives […]
CNL Healthcare Properties announced it entered into an agreement to acquire 21 senior living communities for $457.3 million. The communities are located in five states throughout the Pacific Northwest according to a filing from the Securities and Exchange Commission (SEC). The portfolio includes 2,186 residential units, comprised of 664 independent living units, 1,366 assisted living units, and […]
Two Assisted Living Homes Sell for $19 Million Senior Living Investment Brokerage, Inc., facilitated the sale of two assisted living properties for $19.1 million located in Ellijay and Canton, Georgia. The personal care homes sold in the deal, Cameron Hall Canton and Cameron Hall Ellijay, comprise 153 units of assisted living and memory care services, with […]
American Realty Capital has agreed to purchase a nine-property portfolio of assisted living communities and development land for a total of $143 million The eight communities and one development parcel are all based in the southeast, spanning three communities in Georgia; three in Florida; and one in each North Carolina and Tennessee. The development parcel […]
A Florida-based operator and developer of senior housing has acquired six properties in the Sunshine State under its newest partnership with a private equity firm. Through a new partnership between Discovery Senior Living and Kayne Anderson Real Estate Advisors (KAREA), the companies have acquired six Class A properties comprising 1,930 units of senior housing, formerly […]
Brookdale Senior Living (NYSE: BKD) has completed the acquisition of seven communities from Chartwell Retirement Residences for $80.9 million. The communities, based in Alabama, Arizona, Georgia, Louisiana and Oklahoma comprise assisted living and memory care units. The deal was first announced in May, 2013. Brookdale has been managing each of the communities with the exception […]
LTC Properties to Buy Skilled Nursing Property for $14.4 Million LTC Properties, Inc. (NYSE:LTC) recently announced an agreement to purchase a 120-bed skilled nursing facility in Trinity, Fla. for $14.4 million. The property was built in 2008 and will be added to a master lease at an incremental initial cash yield of 8.75%. The operator […]
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