Ziegler Closes $12 Million Financing for Ind. CCRC Ziegler recently announced the closing of a $12,175,000 non-rated, fixed-rate Series 2012 Bond issue for Westminster Village Terre Haute, a not-for-profit, single-site continuing care retirement community (CCRC) located in Terre Haute, Ind. The CCRC has 309 units comprised of 173 independent living apartments, 20 independent living cottages, […]
Category: REIT
Sunrise Senior Living Investments, Inc. (SSLII), a wholly-owned subsidiary of Sunrise Senior Living (NYSE:SRZ), has completed two buy-outs of joint venture holdings for a total $171 million, according to an 8-K filed Wednesday. On Oct. 1, 2012, SSLII completed its approximately $53 million purchase of an 80% interest held by HVP Sun Investor II LLC, […]
National Health Investors, Inc. (NYSE:NHI) recently announced the $12 million acquisition of a 181-unit senior living campus in Loma Linda, Calif. The community has 98 independent living units and 83 skilled nursing beds. The transaction was funded from available cash and from borrowings on NHI’s revolving credit facility. Chancellor Health Care, LLC, will lease and […]
Private equity and public capital drive the majority of senior housing financing transactions, but because of the different asset types each “heavyweight” generally prefers, there’s room in the industry for both. It’s similar to comparing Oscar De La Hoya to George Foreman: Both were boxing champions in their respective weight classes, but you didn’t see […]
Healthcare real estate investment trust Sentio Healthcare Properties recently acquired a four-property portfolio of assisted living communities located in Illinois and Texas for $49 million. The acquisition is structured as a joint venture with an affiliate of Vancouver, Wash.-based JEA Senior Living, which will continue to operate the communities on behalf of the venture. The […]
Here’s a collection of some smaller acquisitions and investments made in the past few days by senior healthcare providers and investors. Ensign Acquires Two California Senior Care Facilities The Ensign Group, Inc. (NASDAQ:ENSG) recently announced the acquisition of Atlantic Memorial Healthcare Center, a 104-bed skilled nursing facility, and Shoreline Healthcare Center, a 75-bed skilled nursing […]
Healthcare real estate investment trust (REIT) acquisitions and financing deals in senior housing are forcing Fannie Mae to adapt its business strategy and put a focus on working with small to mid-size players in the industry. “In the past, we’ve done business with larger operators, but not many with middle market borrowers,” said Bob Simpson, […]
Health Care REIT’s $845 million acquisition of Sunrise Senior Living at a 60% premium may have opened the door to a whole world of senior living industry-changing acquisition activity, reports Bloomberg, and Emeritus and Brookdale might be next. The takeover of Sunrise Senior Living Inc. at the biggest premium ever paid for an operator of […]
The senior housing industry considers 2011 as the Year of the REIT, but despite this year’s sharp decline in acquisition activity, it could just be a digestion period functioning as a calm before the next storm, said executives from several healthcare real estate investment trusts during NIC’s National Conference. It’s possible many big players are […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two senior care communities in separate transactions for a combined $42.5 million. The first is a 48-unit memory care community in Aurora, Colo., purchased for $16 million from an affiliate of New Dawn Holding Company. The REIT also entered into a triple-net lease agreement with the New […]
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