Prudential Real Estate Investors Buys Senior Housing Community Prudential Real Estate Investors recently purchased a senior housing community in Alpharetta, Ga. in a transaction brokered by ARA Seniors Housing Group. Arbor Terrace at Crabapple is a 93-unit “Class A” assisted living and memory care community sold by AEW Capital Management on behalf of one of […]
Category: Acquisitions
Mainstreet Property Group has sold a newly constructed 100-unit senior living community based in Hamilton County, Indiana to HealthLease Properties Real Estate Trust (TMX:HLP.UN) for $17.86 million. The fully occupied facility is leased on a triple-net basis to Life Care Services. The community, Wellbrooke of Westfield, includes 70 skilled nursing and rehabilitation units and 30 assisted […]
Benchmark Senior Living has received approval to acquire senior living community the Groves of Lincoln for a sum of up to $35 million, following the community’s default on more than $88 million of tax-exempt bonds. Plans to expand upon the existing campus would effectively turn the property into a Continuing Care Retirement Community, the second […]
Regional senior housing operators with real estate investment trust (REIT) ties may be the best match for owners looking to exit the market, according to national brokerage firm Evans Senior Investments. Compared to other possible suitors such as a local operator, a national chain, a REIT, or a private equity firm, regional buyers often pay […]
Much ado is made about the blockbuster deals made in recent quarters by the Big 3 REITs, but while Ventas, HCP, and Health Care REIT fight for the large, high-quality senior housing portfolios, smaller-cap REITs are quietly snatching up their own deals at more stable—and reasonable—cap rates. Senior Housing Properties Trust (NYSE:SNH), for example, is […]
Health Care REIT (NYSE:HCN) has been busy making big investments in 2013, already amounting to more than $5 billion during the year. The company announced in May that it was making a $1.01 billion investment in Canadian senior housing operator Revera’s $1.35 billion portfolio using a RIDEA structure on the deal. In January, the company […]
Manor Village Life Centers Sells Senior Housing Property for $31 Million An affiliate of Rauls Convalescent Home Inc., based in Macon, Ga., recently purchased Manor Village at Preston, a senior housing apartment complex, for $31 million, reports the Triangle Business Journal. The new owner is changing the name of the 166-unit community to Preston Pointe. […]
The Affordable Care Act is sure to impact the senior housing space, and the Big Three healthcare REITs expect their capital will be a crucial component for operators to stay in the game. “The winners from the operating standpoint will be able to create new operating models or paradigms to lower the cost of care,” […]
Senior housing and medical office buildings are poised to continue their upward trend as a result of the demographics and improving economies according to Debra Cafaro, chairman and CEO of Ventas, Inc. (NYSE: VTR). Speaking with REIT.com, Cafaro said being a REIT has provided the company with a flexible business model, allowing it to focus on […]
CNL Healthcare Properties, an investment firm focused on senior housing and healthcare real estate, has expanded its senior living portfolio with the purchase of six skilled nursing facilities (SNFs) in Arkansas. The $56.4 million purchase from Senior Living Centers marks the company’s first acquisition in the post-acute care space. “We continue to seek new opportunities […]
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