Real estate brokerage Grubb & Ellis Co. recently filed for bankruptcy, reports the LA Times, and will sell its assets to the parent company of its rival, Newmark Knight Frank, as part of a prepackaged bankruptcy, according to the firms. BGC Partners Inc., a New York financial services firm that acquired Newmark Knight Frank in […]
Category: REIT
Ventas, Inc. (NYSE:VTR) saw its normalized funds from operations (FFO) skyrocket 114% to $259.3 million for the fourth quarter ended Dec. 31, 2011, thanks to acquisitions made in the period. “Ventas delivered excellent results in 2011, as our portfolio performed well while we successfully integrated over $11 billion of accretive acquisitions,” Ventas Chairman and CEO […]
Following its announcement of expanding into Canada with a 42-property portfolio, Health Care REIT, Inc. (NYSE:HCN) released its earnings results for the fourth quarter ended Dec. 31, 2011, reporting a net income of $42.3 million. This represents an 8% decrease from 2010’s $46 million and may stem from the REIT’s rigorous recent acquisition activity. The […]
Health Care REIT, Inc. (NYSE:HCN) announced on Feb. 15 that it will use a RIDEA structure to partner with Chartwell Seniors Housing REIT (TSX:CSH.UN) to own and operate a 42-property portfolio of high-quality seniors housing and care communities located in “attractive” Canadian markets. The portfolio, which has approximately 8,200 units, is primarily made up of […]
HCP, Inc. (NYSE:HCP) saw its funds from operation per common diluted share plunge 40% to $0.37 in the fourth quarter ended Dec. 31, 2011 compared to the previous year’s $0.67, after the company agreed to pay Ventas, Inc. (NYSE:VTR) a $125 million settlement. In the fourth quarter, HCP reported total revenues of $461.6 million, a 35% increase from […]
Healthcare real estate investment trusts (REITs) such as the Chicago-based Ventas, Inc. participated heavily in M&A activity in 2011, and with their low costs of capital, they effectively cornered the market. And with cap rates falling, these types of deals are getting more expensive and might not end up being very profitable, reports Crain’s, which could […]
Senior Housing News recently got the chance to speak with John Cobb, the senior vice president and chief investment officer of Chicago-based Ventas Healthcare REIT (NYSE:VTR). Although he’s only been with Ventas for about a year and a half, Cobb has a longstanding relationship with Ventas president Ray Lewis, with whom he’s worked for about […]
Griffin-American Health Care REIT II (formerly known as Grubb & Ellis) announced this week it has acquired 10 skilled nursing facilities and an additional medical office building for a total of $174.3 million. The properties span five southern states and comprise a total of 1,364 beds added to the healthcare REIT’s portfolio. The skilled nursing […]
There’s been a growing spotlight on medical-related real estate in the past couple of years, especially considering the activity of real estate investment trusts (REITs) who took the healthcare industry by storm with mega million- and even billion-dollar deals. While most of those deals were for skilled nursing facilities and assisted living communities, medical office […]
Griffin-American Healthcare REIT II, formerly known as Grubb & Ellis Healthcare REIT II, announced on Jan. 9 that it has successfully transitioned its advisory and dealer manager agreements from Grubb & Ellis Company and its affiliates to co-sponsorship by American Healthcare Investors and Griffin Capital Corporation. The U.S. Securities and Exchange Commission’s declaration of the […]
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