KKR to Provide $150 Million of Equity to Sentio Healthcare Properties Real estate investment trust Sentio Healthcare Properties, Inc. announced the signing of a definitive agreement with an affiliate of global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) for a commitment to provide $150 million of convertible preferred equity to Sentio in the […]
Category: Finance & Development
HCP Inc. (NYSE:HCP) saw its profits more than triple to $239.9 million, or $0.53 per share, for the fourth quarter ended Dec. 31, 2012 compared to the previous year, when net income was affected by a $125 million legal settlement. Net income applicable to common shares for all of 2012 totaled $812.3 million, up nearly […]
REIT Buys N.C. ALF for $9.7 Million in Sale-Leaseback Transaction with Meridian Meridian Senior Living recently sold an assisted living community to Cornerstone Core Properties REIT Inc., an investment fund of Irvine, Calif.-based Cornerstone Real Estate Funds, for $9.7 million in a sale-leaseback transaction, reports The Business Journal. Danby House is a 100-bed, 27,129-square-foot community […]
Care Investment Trust Inc. (OTCQX:CVTR) announced on Friday it had entered a joint venture with affiliates of Calamar Enterprises, Inc., owned 75% by affiliates of Care and 25% by affiliates of Calamar, for the acquisition of two senior apartment communities from affiliates of Calamar valued at $23.3 million. Simultaneously with the acquisition, Care entered into […]
Lancaster Pollard Closes $63.4 Million Refinance for Trilogy Health Services Lancaster Pollard recently closed on a $63.4 million portfolio refinance for Trilogy Health Services, LLC, which operates multiple senior care communities throughout Kentucky, Illinois, Indiana, Ohio, and Michigan. The transaction refinanced eight of Trilogy’s facilities, comprising a total of 568 skilled nursing beds and 340 […]
Construction: Planned The Tutera Group Plans $50 Million Kansas Retirement Community The Tutera Group, a diversified senior living and real estate investment company, is planning a $50 million senior living community on 18 acres near the former Mission Valley Middle School in Kansas City, Kans., reports The Kansas City Star. Mission Chateau would feature independent […]
Berkadia Originates $14.4 Million Acquisition Loan for Chevalier Berkadia Commercial Mortgage LLC recently originated a $14.4 million, three-year floating rate acquisition loan to finance Chevalier International Holdings Limited’s acquisition of an 18-property portfolio of assisted living communities operated by Meridian Senior Living. Christopher Fenton, vice president at Berkadia, arranged the loan through the firm’s proprietary […]
Despite the impending “silver tsunami” headed toward the U.S. as the baby boomers approach old age, two related factors are making lenders wary of lending to the skilled nursing industry: declining occupancy rates and competition from increased senior care options. That hesitancy is increasingly forcing skilled nursing operators having trouble getting traditional financing for mortgages […]
Construction: Planned Trilogy Health Services, Silvercrest Plan $20 Million Indiana Project Trilogy Health Services LLC is partnering with real estate developer Matt Chalfant, dba Silvercrest LLC, in a previously announced project to convert the former Silvercrest Children’s Development Center into a senior living complex. The project, located in New Albany, Indiana, would reportedly cost about […]
Sunrise Announces Changes to 5.00% Junior Notes Sunrise Senior Living, LLC announced Friday that in connection with the closing of the transactions by among Health Care REIT, Sunrise Senior Living, Brewer Holdco, Inc., Brewer Holdco Sub, Inc., and Red Fox, Inc., Sunrise delivered a notice to holders of its 5.00% Junior Subordinated Convertible Notes due […]
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