Gentiva Health Services, Inc. (NASDAQ:GTIV) announced on Thursday that it had acquired Advocate Hospice, located in Danville, Ind., for an undisclosed price. Advocate was founded in 2006 and is a leading provider of end-of-life care in its community. “The addition of Advocate Hospice to the Gentiva family enables us to expand our coverage in central […]
Category: Acquisitions
Toledo, Ohio-based Health Care REIT recently acquired a Florida assisted living and memory care community for $30 million in a sale-leaseback transaction, reports the Herald-Tribune. The REIT purchased the operation, the Windsor at Lakewood Ranch, from companies belonging to Timothy J. Buchanan and Stephen D. Russell. The acquisition includes two buildings, one that is 70,000 […]
Private equity firm JLM Financial Investments, based in Austin, Tex., acquired a 10-property portfolio of senior care facilities last month for an undisclosed sum. The portfolio consists of 1,553 beds in both skilled nursing and intermediate care facilities, all of which are located in Illinois. JLM acquired the portfolio from Irvine, Calif.-based Granite Investment Group. […]
Holiday Retirement recently announced its acquisition of two new retirement communities, located in Wisconsin and Oregon. “We are thrilled with our two most recent acquisitions, which enable us to serve a growing number of seniors seeking a fulfilling, independent lifestyle,” said Holiday Retirement CEO Jack R. Callison, Jr., in a statement. “Holiday Retirement is in […]
Care.com, an online service that connects families with care providers, announced on Wednesday it has created the world’s largest online care destination after acquiring Besser Betreut GmbH, Europe’s largest online destination for care and service providers. Betreut is based in Berlin, Germany and will become one of Care.com’s operating units. It will continue under its […]
AdCare Health Systems, Inc. (NYSE MKT:ADK) announced on Tuesday it had completed a previously announced agreement to purchase a skilled nursing facility located in Glennville, Ga. for $8.2 million. The Glenview Health and Rehabilitation center has 134 beds and generates an estimated $6.4 million in annualized gross revenues, according to its most recent financials. AdCare […]
Newton, Mass.-headquartered Five Star Quality Care, Inc. (NYSE:FVE) announced on Monday its agreement to sell its pharmacy business to Omnicare (NYSE:OCR) for $30.7 million. The senior living and healthcare services company anticipates the sale of this business will result in a capital gain to Five Star of approximately $23.5 million. The senior living company’s pharmacy […]
Real estate brokerage firm Marcus & Millichap recently brokered the sale of five senior housing properties in three separate transactions with an aggregate sales price of $70.1 million. Ben Firestone and Jacob Gehl, out of the firm’s Chicago office, brokered the sale of three properties, Caley Ridge Assisted Living Community in Englewood, Colo., The Mansion […]
Senior housing and care REIT LTC Properties, Inc. (NYSE:LTC) announced on Monday that it had acquired a skilled nursing facility located in Brownwood, Tex. for $6.5 million. The facility has 90 licensed beds and has been added to an existing master lease with Senior Care Centers at an initial cash yield of 9.0% and an […]
Grace Management in partnership with an investor group recently assumed operations of a Florida independent living community, The Commons on Pretty Pond (formerly called Bentley Commons at Zephryhills). Through a negotiated bid process, Grace Management, along with PRN Capital, LLC and TPG Credit Management, L.P., acquired $20 million worth of defaulted tax-exempt bonds for $11 […]
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