Ventas Completes Previously-Announced Cogdell Spencer Acquisition Ventas, Inc. (NYSE:VTR) announced on Monday, April 2 that it had completed its previously announced acquisition of Cogdell Spencer (NYSE:CSA). “With the closing of the accretive Cogdell acquisition, Ventas is now the largest owner of medical office buildings (“MOBs”) in the U.S. with over 21 million square feet of […]
Category: REIT
Ventas, Inc. (NYSE:VTR) has agreed to acquire a 100% interest in 16 private-pay senior living communities from affiliates of Sunrise Senior Living, Inc. (NYSE:SRZ) and its institutional joint venture partner for $362 million. Sunrise will receive approximately $28 million for its 20% ownership in the portfolio and will remain the manager of the communities under […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two skilled nursing facilities located in Pennsylvania for $29.9 million, and also funded a mezzanine loan investment for Meridian Equity Investors. The nursing facility acquisitions were a sale-leaseback transaction with affiliates of the sellers; the purchase prices was funded with available cash. Each facility has 60 licensed […]
LTC Properties, Inc. (NYSE:LTC) recently acquired a 144-bed skilled nursing property located in Red Oak, Texas for $18.6 million from an undisclosed buyer. The REIT funded the acquisition through its unsecured revolving line of credit, and added the property to an existing master lease with an unrelated third-party operator at an initial cash yield of […]
CNL Lifestyle Properties, Inc., based in Orlando, Fla., plans to add four assisted living communities to its portfolio for $80 million, excluding closing costs. The REIT will acquire the Georgia properties in May from Solomon Holdings II Dogwood Four LLC. The deal is still subject to due diligence and includes Dogwood Forest communities in Alpharetta, […]
There’s been some buzz recently around the accountable care organization (ACO) model found within President Obama’s healthcare reform bill, as the senior care industry looks into partnering up with other providers in the continuum of care to provide the best possible outcomes for patients. Even though much of the bill won’t go into effect until […]
Ventas, Inc. (NYSE:VTR) announced on Feb. 23 that it’s looking for new tenants for 64 healthcare assets that are currently leased to Kindred Healthcare, Inc. (NYSE:KND) under four master leases, after the healthcare services company opted not to renew the majority of its leases with the REIT. “We believe these assets will be attractive to […]
Construction for seniors housing is still very low, according to the National Investment Center for the Seniors Housing & Care Industry, but if the most recent round of quarterly earnings calls are any indication, it looks like some real estate investment trusts (REITs) are cautiously beginning to finance some development projects. HCP, Inc.: Partnering with Brookdale for […]
Beech Street Capital Closes $8.9 Million Refinance for New Jersey SNF Beech Street Capital, LLC announced that it provided an $8.9 million HUD Section 223(a)(7) loan to refinance Arcadia Nursing & Rehabilitation Center, a 128-bed skilled nursing facility in Hamilton Square, New Jersey. The borrower had 28 years left on an existing $9 million FHA-insured […]
Health Care REIT, Inc.’s recent RIDEA-structure partnership with a Canadian REIT for a 42-property portfolio makes sense, says the U.S. company, considering extremely favorable market demographics of a large senior population and a growing demand for senior housing. “We have spent some time over the last year or so looking at different marketplaces and Canada we […]
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