Ventas (NYSE: VTR) is flush with a new $2 billion unsecured revolving line of credit that can be expanded by $500 million using an “accordion feature”. Priced at 125 basis points over LIBOR, the facility replaces the company’s old $1 billion line that was priced at 280 basis points. “Our NHP acquisition resulted in a […]
Category: REIT
Despite HCP, Inc. (NYSE:HCP) agreeing to pay approximately $102 million judgment to Ventas, Inc. (NYSE:VTR) for compensatory damages, the battle between the two Health Care REIT powerhouses rages on. In September 2009, a jury verdict awarded Ventas with the judgment after they filed a suit accusing HCP of tortious interference with business expectations concerning Ventas’ acquisition […]
The number of senior housing acquisitions and transactions are expected to increase according to 70% of respondents in a survey conducted by National Real Estate Investor and Senior Housing Investment Advisors Inc. The survey, which attracted 240 industry participants, found that almost half (45% of respondents) expect independent living and assisted living to see the greatest […]
Grubb & Ellis Healthcare REIT II said it entered into an agreement to acquire the Southeastern Skilled Nursing Facility Portfolio for $166.5 million last week. The portfolio includes 10 SNFs located in Alabama, Georgia, Louisiana, and Tennessee. The properties total nearly 460,000 sq. ft. and include 1,364 beds. Built between 1969 and 1999. The 10 […]
Sabra Health Care REIT (NASDAQ:SBRA) announced on Tuesday the acquisition of two skilled nursing facilities for $18 million. The first is Manokin Manor & Rehabilitation Center, a 135 bed skilled nursing facility built in 1987 and located in Princess Anne, Maryland. The second property is Honey Hill Care Cetner, a 150 skilled nursing facility that was […]
One of the hottest topics in senior housing is the new RIDEA structure available to REITs looking to make acquisitions. The structure allows operators and the REITs to share both the operating profits of the facilities and also any downside, should performance deteriorate. RIDEA, which comes from and is an acronym for the REIT Investment […]
Acquisitions made by Real Estate Investment Trusts over the last year have pushed transactions volumes in seniors housing to record levels in 2011. During the first half of the year, transaction volume reached $16.4 billion, 55% more than volume from 2008 to 2010 according to the National Investment Center for Seniors Housing & Care Industry. […]
Health Care REIT, Inc. (NYSE:HCN) announced it has been awarded LEED® Platinum status and the launch of its Green Arrow Energy Management Program. “We are honored to be recognized by the U.S. Green Building Council for our commitment to identifying and implementing the most effective energy management and sustainable business strategies for our Toledo corporate campus,” […]
National Health Investors (NYSE:NHI) closed on a $5.4 million purchase of Willow Run Retirement Center, a private pay 60 unit assisted living community with four independent living cottages in Greensboro, GA. As part of the transaction, NHI is renaming the property as Savannah Court of Lake Oconee, which will be leased to Senior Living Management. […]
Senior Housing Properties Trust (NYSE: SNH) announced it has agreed to purchase nine senior living rental communities for $478 million from Vi as Classic Residence by Hyatt. As part of the deal, SNH assumed $164 million of mortgage debt on certain communities. The nine communities include 2,226 living units: 1,708 independent living apartments, 471 assisted […]
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