Greystone Closes Over $210 Million in Seniors Housing Financing Since August Greystone, a real estate lending, investment and advisory company, announced it has closed more than $210 million in financing for seniors housing properties since August 2015. The financing spanned 11 transactions and includes a range of loan products and debt placements, including Fannie Mae, […]
Category: Finance & Development
Major buyers have been more cautious to invest in large senior housing portfolios due to high prices, raising the question of whether the market has peaked. Some top executives say that it has, and that 2016 could see the completion of bigger deals. Despite a record-high transaction volume in the senior housing sector, real estate investment trusts […]
NorthStar, Griffin-American Close on $1 Billion Trilogy Acquisition It’s official—the $1.125 billion acquisition of Trilogy Health Services LLC has been finalized. NorthStar Healthcare Income, Inc. on Tuesday announced the completion of the acquisition, pursuant to a joint venture with Griffin American Healthcare REIT III, Inc. Under the agreement, Griffin-American will own 70% of the joint […]
Another big player in multifamily housing is entering the senior housing sector, with plans to stay. The Wolff Company, a middle-market real estate private equity firm based in Scottsdale, Arizona, recently announced its plans to develop several senior living apartment communities during the first quarter of 2016. The first six developments, located in Washington, California, Nevada and […]
After stuffing ourselves for Thanksgiving last Thursday, we at Senior Housing News were happy to be back in the newsroom this week. Our readers were into the latest edition of CEO Fresh Take and caught up with ACTS Retirement-Life Communities. We were interested in Elmcroft’s sale of its skilled nursing units to Signature and the […]
Construction: Planned Summerlin Asset Management Plans 2016 Groundbreaking for 135-Unit IL Project Summerlin Asset Management, a real estate investment company with offices in Lake Havasu City, Ariz. and Irvine, Calif., plans to break ground on a 135-unit independent living community in Houston during the first quarter of 2016. Architectural plans include 160,000 square feet of […]
Louisville, Kentucky-based Signature HealthCare LLC has acquired the skilled nursing assets of Elmcroft Senior Living, effectively adding 18 skilled nursing and rehabilitation centers to Signature’s holdings, Louisville Business First reported. Financial terms of the transaction were not disclosed. “This strategically works better for us,” Elmcroft CEO Pat Mulloy tells Senior Housing News. “The largest portion of […]
ACTS Retirement-Life Communities is in the midst of a $300 million project to revamp its CCRCs—but the company’s strongest investments might be in a different area. While he acknowledges how important the facility upgrades are, ACTS CEO J. Mark Vanderbeck speaks especially forcefully about the nonprofit provider’s commitment to its workers. Cultivating satisfaction and longevity at every level […]
A popular financing program is under fire as a Congressional deadline looms. Lawmakers could extend the EB-5 investment and visa program or enact changes that could make it more difficult for U.S. developers to fund projects, including in senior housing. The EB-5 Regional Center Program allows foreign citizens to qualify for a U.S. residency visa […]
It’s still too early to tell whether changes in cost of capital and the anticipated uptick in interest rates will influence senior housing asset prices and cap rates, according to HCP, Inc. (NYSE: HCP) President and CEO Lauralee Martin. Martin sat down with REIT.com at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at […]
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