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 […]
Category: Acquisitions
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 […]
In the wake of Sunrise Senior Living (NYSE:SRZ) agreeing to be bought by Health Care REIT (NYSE:HCN), senior living investors are riding a wave of interest in the industry as boosted stock prices reflect favorable occupancy trends and payment rates along with other factors, according to the Tenneseean.com. The senior living industry—including independent living, assisted […]
Griffin-American Healthcare REIT II, Inc., announced on Wednesday the acquisition of a 13-property portfolio of senior care communities along with seven medical office buildings (MOBs) located in Illinois, Texas, Tennessee, and Georgia for a total of approximately $103 million. “We seek to acquire properties that provide multiple levels of diversification to Griffin-American Healthcare REIT II,” […]
Toledo, Ohio-based real estate investment trust Health Care REIT (NYSE:HCN) has been busy in recent weeks with its approximately $845 million acquisition of Sunrise Senior Living and a $65 million purchase of three senior housing communities, and now it has been reported that the REIT purchased three more properties for a total of $26.2 million. […]
Long-term care provider AdCare Health Systems, Inc. (NYSE:ADK) has agreed to purchase a South Carolina skilled nursing facility for $4.2 million. The 84-bed facility generations an estimated $3.8 million in gross annualized revenues, according to its most recent financials. The acquisition is expected to close in the fourth quarter of 2012 and will be financed […]
And so it begins: Backed with financing from Health Care REIT (NYSE:HCN), Sunrise Senior Living (NYSE:SRZ) is starting to buy out its joint venture partners’ interests in some senior living portfolios, according to an 8-K that was filed today. Two of the national chain’s entities have entered into purchase and sale agreements, one with HVP Sun […]
Health Care REIT Inc. (NYSE:HCN) recently purchased three Florida assisted living facilities from Royal Senior Care LLC for $64.6 million, report the South Florida Business Journal and the Jacksonville Business Journal. The Sunrise Atrium was bought for $31.54 million by HCN affiliate HCRIX Royal from RSC Atrium. The 160-unit community is located on 2.3 acres in […]
When Toledo, Ohio-based Health Care REIT (NYSE:HCN) announced on Wednesday that it was acquiring all of the approximately 58.3 million outstanding shares of national senior living provider Sunrise Senior Living (NYSE:SRZ) for $14.50 a share, it didn’t exactly get a bargain—but it did make a smart long-term investment, analysts agree. Despite the steep price tag, […]
Gazit-Globe, a leading multi-national real estate company, announced last week that its private subsidiary, Royal Senior Care, LLC and its members have completed a transaction to sell the majority share of its wholly-owned senior housing communities. Gazit Senior Care, Inc., a private subsidiary fully-owned by Gazit-Globe, holds a 60% interest in Royal Senior Care, LLC, […]
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