With new senior housing and care construction still challenging to finance, investors and operators have a great opportunity to reposition aging stock to meet the demand of future residents, said panelists at the National Investment Center for the Seniors Housing & Care Industry’s National Conference earlier this week. There has been a “dramatic” change in […]
Category: REIT
Health Care REIT (NYSE:HCN) recently purchased a second North Carolina senior living community from Kisco Senior Living for $19.4 million, reports the Triangle Business Journal. Abbotswood at Stonehenge is an assisted living community in Raleigh, N.C. HCN and Kisco are also partnering to develop a nearby retirement community after the original developer’s plans didn’t pan […]
Health Care REIT to Offer 22 Million Shares of Common Stock Health Care REIT (NYSE:HCN) is offering 22 million shares of its common stock along with granting underwriters a 30-day option to purchase up to an additional 3.3 million shares. The REIT will use the net proceeds from the offering to repay advances under its […]
Healthcare real estate investment trust National Health Investors, Inc. (NYSE:NHI) has entered an agreement with operator Bickford Senior Living to combine their ownership in the real estate and operating assets of 10 stabilized assisted living and memory care communities. The deal is expected to close by the end of 2012’s third quarter. NHI will contribute […]
Construction: Planned Kisco Senior Living & HCN to Build N.C. Senior Living Community Carlsbad, Calif.-based Kisco Senior Living is taking over the development of a N.C. senior living community, reports the News Observer, in a joint venture project with Toledo, Ohio-based Health Care REIT (NYSE:HCN). Kisco is scaling back original plans made by Kane Realty […]
Accelerated joint venture buy-outs have increased the real estate value of the Sunrise Senior Living (NYSE:SRZ) acquisition by Health Care REIT (NYSE:HCN) from about $1.9 billion to $3.2 billion, the investment trust announced on Tuesday. “We are extremely pleased with our initial success in reaching agreements to purchase additional Sunrise joint venture partner interests,” said […]
Kohlberg Kravis Roberts & Co. L.P., Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC will acquire the management company business of Sunrise Senior Living (NYSE:SRZ) for approximately $130 million, Health Care REIT (NYSE:HCN) announced on Friday, Sept. 14. For its part, HCN will invest approximately $26 million for a 20% interest in […]
Toledo, Ohio-based Health Care REIT (NYSE:HCN) recently acquired Magnolia Glen, a retirement community in Raleigh, N.C., for $59.96 million, reports the News & Observer. The property was sold by Kisco Senior Living, based in Carlsbad, Calif. The community has independent living cottages and apartments and was built in 2002. “The deal is further proof that […]
The CEO of Sunrise Senior Living (NYSE:SRZ) appeared on a segment of CNBC’s Mad Money following the acquisition of his company by Health Care REIT (NYSE:HCN), and host Jim Cramer hailed the executive as the “King of the Comeback.” “There are still some terrific executives out there who are working their butts off 24/7 to […]
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 […]
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