Private equity firm TPG has announced the completion of its acquisition of Assisted Living Concepts in a deal reportedly valued at $280 Million. Shareholders initially voted on the acquisition in May, and have agreed to receive $12 in cash for each share of Class A common stock and $12.90 cash per share of Class B common […]
Category: Acquisitions
Through the acquisition of a distressed Massachusetts independent living property in a deal that closed this month, Benchmark Senior Living is solidifying its position in the market for continuing care retirement communities. The second CCRC operated by Benchmark in its 46-property portfolio, the company says it is interested in the product type and is seeking opportunities […]
While the largest week-over-week uptick in interest rates seen in decades sent many markets plummeting—including the share prices for publicly held REITS—the short term impact on senior housing finance is minimal, analysts say. Yet a few potential long term scenarios could play out should the rate rise continue further, making it more difficult for REITs […]
Formation Capital announced today the acquisition of a 36-property senior housing portfolio for approximately $400 million with investment partner SAFANAD, a global principal investment house, from an undisclosed seller. Senior Lifestyle Corp., based in Chicago, will continue to manage a portion of the communities, while Frontier Management, Prestige Senior Living, and other senior living management […]
Health Care REIT (NYSE:HCN) today announced it has completed the final phase of its acquisition of Sunrise Senior Living, a landmark deal valued at aggregate $4.3 billion. The acquisition, announced in August 2012, for an initial purchase price of $1.9 billion, includes 120 wholly-owned properties and five additional properties owned in joint ventures with third […]
Sabra Health Care REIT (NASDAQ:SBRA) announced on Monday the origination of a mezzanine loan investment for $12.4 million with an affiliate of Chai Facilities Acquisition Company, LLC that carries an up to $50 million acquisition option for several senior care properties. Chai Facilities Acquisition Company is the indirect owner of 12 skilled nursing facilities with […]
National Health Investors, Inc. (NYSE: NHI) announced today that its RIDEA joint-venture with Bickford Senior Living has acquired 17 assisted living and memory care communities for a total purchase price of $135 million. The 17 communities are comprised of 14 communities purchased from a subsidiary of Care Investment Trust, Inc. (OTCQX: CVTR) for approximately $123 […]
On Thursday, Health Care REIT announced it was buying out Merrill Gardens’ equity stake in 38 senior housing properties for $173 million and entering a triple-net lease with Emeritus Senior Living to manage the portfolio, leaving Merrill Gardens with 26 communities and big reinvestment plans. The move to sell its interest in more than half […]
Health Care REIT (NYSE:HCN) announced on Thursday an agreement to buy out Merrill Gardens’ equity interest in a 38-property portfolio of senior housing communities for $173 million. The REIT already owns 80% of the equity interest in the properties through a joint venture with Merrill Gardens and has now agreed to acquire the remaining 20%. […]
NorthStar Realty Finance Corp. (NYSE:NRF) recently acquired an assisted living portfolio located in Minnesota for $51 million at a 9.5% cap rate. The 11-property portfolio has 292 beds and was 95% occupied as of March 2013. The communities were built between 2000 and 2012 and were sold by someone who is retiring and divesting his […]
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