Care Investment Trust Inc. (OTCQX:CVTR) has entered an agreement to purchase a seven-property senior housing portfolio from affiliates of Juniper Communities, LLC for $106.5 million. The assisted living and memory care assets are located in desirable markets in New Jersey, Pennsylvania, and Colorado and have a total of 410 units with an average occupancy rate […]
Category: Acquisitions
Irvine, Calif.-based MBK Senior Living recently announced the acquisition of Oakmont Gardens, a senior living community in Santa Rosa, Calif., for an undisclosed amount. Oakmont Gardens offers four newly-remodeled one- or two-bedroom floor plans, with community amenities that include swimming pools, spas, a golf course, tennis, a new fitness center, a library, and lawn bowling. […]
Two Ohio senior living providers have bought a stake in a regional home healthcare agency as part of a move to expand service offerings and invest in a growing—but consolidating—home care market, reports Cincinnati.com. Life Enriching Communities, the operator of Twin Lakes in Montgomery and Twin Towers in College Hill, and Episcopal Retirement Homes, the […]
Several companies feature prominently as rapid changers in terms of growth on the 2012 LeadingAge Ziegler 100 of the nation’s top not-for-profit senior living organizations, effectively changing the face of the industry through expansions, acquisitions, and new development, and many organizations topping the list of those with the most growth in 2011 also grew substantially—and […]
Toledo, Ohio-based Health Care REIT (NYSE:HCN) recently acquired Magnolia Glen, a retirement community in Raleigh, N.C., for $59.96 million, reports the News & Observer. The property was sold by Kisco Senior Living, based in Carlsbad, Calif. The community has independent living cottages and apartments and was built in 2002. “The deal is further proof that […]
Life Care Services recently announced that it will provide management services to two Milwaukee, Wisc.-area continuing care retirement communities (CCRCs) and will acquire one of them. The senior living operator will take on management of Newcastle Place in Mequon, Wisc. and Eastcastle Place in Milwaukee, Wisc. beginning around the first of October. LCS and The […]
The CEO of Sunrise Senior Living (NYSE:SRZ) appeared on a segment of CNBC’s Mad Money following the acquisition of his company by Health Care REIT (NYSE:HCN), and host Jim Cramer hailed the executive as the “King of the Comeback.” “There are still some terrific executives out there who are working their butts off 24/7 to […]
CNL Healthcare Trust, Inc. announced on Wednesday its plans to invest $40.4 million into senior housing projects, including new development and the acquisition of three Iowa assisted living and memory care communities. The senior housing and healthcare-focused real estate investment offering will invest $21.6 million into the development of an assisted living and memory care […]
Real estate investment trusts (REITs) specializing in the health care and senior housing sectors can yield a lot of buying power, but while some may be in the position to take advantage of their lower cost of capital to buy up distressed properties, most are very selective regarding the types of assets they want to add […]
Long-term care services provider Advocat Inc. (NASDAQ:AVCA) recently agreed to sell one of its skilled nursing centers in Arkansas to an unrelated party for an undisclosed sum. The facility’s operating margins didn’t meet the company’s long-term strategic goals, said Advocat in a statement, as it contributed revenues of $2.59 million and a pre-tax net loss […]
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